FEATURED – St. Louis Business Journal

St. Louis Business Journal Article

One of last year’s biggest dealmakers scoops up more retail with $21M buy

Oct 17, 2019, 5:30am CDT

Cincinnati-based Select Strategies has acquired Ballwin Plaza for $20.9 million.

The 204,859-square-foot regional shopping center is anchored by Schnucks, Hobby Lobby, Marshalls and Buffalo Wild Wings at 15425 Manchester Road. Ballwin Plaza is 93% occupied and has a weighted average lease term of 11 years, according to Pace Properties, whose Scott Seyfried represented the seller, Ohio-based Viking Partners, along with Joe Girardi of Mid-America Real Estate Corp.

Viking Partners acquired the center in 2014 for $10.6 million, according to St. Louis County records.

Select Strategies is a privately held real estate investment company that specializes in the development, acquisition, management and leasing of retail and mixed-use property in the Midwest and Southeast.

It had one of the largest commercial real estate deals in St. Louis last year when it acquired seven properties from Kimco Realty for $78.4 million. Select Strategies now owns more than 1.3 million square feet of retail property in the region.

West St. Louis County had a vacancy rate of 5.8% and average lease rate of $16.60 per square foot in the third quarter of 2019, according to research from Gershman Commercial Real Estate.

“The market is very strong. St. Louis is still seen as an opportunistic buy because of more yield,” Pace’s Seyfried said.

Looking ahead, Seyfried said active buyers in the St. Louis market are likely to remain that way in 2020.

Ballwin Plaza – St. Louis | Select Strategies announces leasing and management

October 3, 2019 – Select Strategies Realty announces the management and leasing of Ballwin Plaza in St. Louis, MO.

Ballwin Plaza is a 204,859 SF shopping center situated on Manchester Road which serves as the dominant retail corridor for the western suburbs of St. Louis.  Ballwin offers excellent regional access given its convenient location near Highway 141, Interstate 270 and Interstate 44.

Ballwin Plaza is anchored by Schnucks, the leading grocery retailer in the St. Louis market. Additionally, Ballwin features a diverse national credit tenant line-up including Hobby Lobby, Marshalls, and Buffalo Wild Wings.

Ballwin Plaza features an outstanding upper-middle-class suburban demographic profile, as approximately 155,727 residents with household incomes of $139,807 live within the center’s trade area.  Residents in this market enjoy a low cost of living and in turn, retailers in this trade area benefit from a strong consumer base with ample disposable income.

There are several available spaces currently at Ballwin Plaza ranging from 560 SF – 11,438 SF.

Leasing Contact: Brian Neltner

RealCrowd – Real Estate Investing Podcast

Andrew Modrall, CFO of Select Strategies Realty was recently a guest on RealCrowd, a popular podcast focusing on the Fundamentals of Commercial Real Estate Investing.  Andrew walks through the purpose of the pro forma including the roles of rental income, vacancy allowance, operating expenses, reversion cash flows and more.

The episode can be downloaded on iTunes: CLICK HERE TO DOWNLOAD.

Select Strategies Realty Secures Financing for 5-Property Retail Portfolio in St. Louis

5 Properties St. Louis

Select Strategies Realty announces the acquisition of a five-property retail portfolio in St. Louis.

Read Press Release Here

Click below to learn more about each property:

King’s Highway Shopping Center

Overland Crossing

Lemay Shopping Center

Fairview Heights Center

Creve Coeur Shopping Center

 

Updated Elevation (09.22.17)_website

NEW DOWNTOWN ORLANDO DEVELOPMENT – PRIME, CLASS A SPACE ON LAKE EOLA WATERFRONT

Select Strategies Realty has been retained to act as the exclusive leasing agent for retail space located at the new Cambria Hotel & Suites located at 170 East Washington Street, Orlando, FL.

Located on the only remaining parcel on the shores of Lake Eola, Cambria Hotel & Suites will be an unrivaled dining and shopping destination.  Featuring desirable lakefront views from the retail spaces, outdoor / patio seating and rooftop bar, Orlando’s newest iconic destination offers a fresh, upscale atmosphere and will provide a dynamic experience for local residents, employees and visitors.
* Located in heart of Orlando’s Central Business District with approx. 10 million SF of office towers and 175,850 employees withing 3 miles.
* Walking distance to the areas entertainment venues including: Amway Center, Doctor Phillips Performing Arts Center and Thornton Park.

Downtown Orlando

Image of Bellair Plaza sign

Bellair Plaza – NEW LISTING!!

Select Strategies Realty announces their newest retail center for lease, Bellair Plaza in Daytona Beach.

Highly visible retail space located on North Atlantic Ave. in Daytona Beach, FL with 24,000 VPD directly in front of the site.

Bellair Plaza is the only grocery (Publix)-anchored shopping center adjacent to the beach on the north side of Daytona. It is also the only fashion anchored asset adjacent to the beach with top national brands including Bealls, Marshalls and Tuesday Morning.

Bellair Plaza benefits from inflow of 9.5 million tourist visitors annually to the Volusia county area.

Large outparcel adjacent to A1A with great access and visibility – BUILD TO SUIT OR GROUND LEASE.

More information on Bellair Plaza.

 

 

Map of Bellair Plaza

Crunch fitness

NEW LISTING – Crunch Fitness – Florence, KY at Houston Lakes

Select Strategies Realty has been retained by the Owner to act as the exclusive marketing agent in the sale of the single tenant Houston Lakes Retail Center located at 77 Spiral Drive, Florence, KY (Boone County) in the Greater Cincinnati, OH market.

The Offering – Absolute Net Single Tenant Retail Investment
Financial Overview
In-Place NOI (as of 1/1/2016): $444,703
Houston Lake Retail Center consists of a Class A retail building leased to Crunch Fitness. The
investment is shadow-anchored and contiguous to Home Depot and Kohl’s. Meijer, Best Buy and
Sears Appliance Outlet are located nearby in the same development.

CLICK HERE TO SEE LOOPNET LISTING

 

Amazon Prime Air

Amazon to create $1.4B air hub at CVG

Prime Air

Publish Date: January 31, 2017

Amazon.com Inc. is investing $1.39 billion at Cincinnati/Northern Kentucky International Airport to move its primary air cargo hub there.

The hub will bring 2,700 new jobs and 40 Boeing 767 aircraft to the airport as a result of $40 million in incentives approved by the state on Tuesday.

“They cited the economic vitality of the region and our ability to bring this to market quickly,” CVG CEO Candace McGraw said.

The new service will be called Amazon Prime Air and Amazon (NYSE: AMZN) will lease two parcels totaling 900 acres to house it. The land will be leased a fair market value for 50-plus years.

“They would like to get a shovel in the ground as soon as possible,” McGraw said.

McGraw said CVG will invest $5 million in infrastructure improvements for Amazon’s hub, which is similar to what it did for DHL’s operations there. She said CVG’s infrastructure can support the increase in cargo traffic along with its growing passenger numbers. McGraw said the airport’s cargo operations could actually help with the cost of operations for passenger carriers.

The Courier will continue to update this story.

Article can be found here.

A crowd of shoppers seeking bargains at Target in Cool Springs, Tenn., bought electronics, apparel and toys on Friday, Nov. 27, 2009.(AP Photo/The Tennessean, John Partipilo)

Holiday spending up by 16 percent, beating forecast, ICSC reports

Image result for holiday shopping

Publish Date: January 05, 2017

Holiday spending rose by 16 percent over the 2015 season, beating predictions by 4 percent, according to a consumer survey conducted on behalf of ICSC Research. Consumers spent on average $711 each for gifts and other holiday-related items, up from an average of $611 each last year.

“Consumer confidence continued to improve into December, and we saw this optimism reflected in the holiday spending numbers,” said Tom McGee, ICSC’s president and CEO. “The strong holiday shopping season suggests a positive environment for retail sales overall.”

In total, consumers spent an average of $897 each on gifts plus dining, movies and other entertainment experiences in shopping centers between Nov. 1 and Christmas Day. The biggest spenders were GenX-ers, who spent an average of $1,000 each, followed by boomers ($875) and Millennials ($867).

Nearly half of total consumer expenditures (46.6 percent) took place in physical stores, and an additional 22.6 percent was spent through the online platforms of those retailers — with 12.4 percent spent on items shipped to consumers’ homes, and 10.2 percent on merchandise picked up at the store. Amazon.com received 20.6 percent of the expenditures.

In another positive omen for brick-and-mortar retail, 67 percent of adults buying online said it is important that the retailer also have a physical presence. This is particularly critical to Millennials, 77 percent of whom said it is very important or somewhat important to them, versus 68 percent for Generation X and 59 percent for boomers. Only a third of U.S. adults said they consider it unimportant whether their online purchases come from a physical retailer.

Asked which types of stores they patronized, 65 percent of respondents said they bought gifts and other holiday-related items at discount or dollar stores, 45 percent said they used traditional department stores, and 24 percent went to electronics stores.