NEW LISTING – Crunch Fitness – Florence, KY @ 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

 

Planet Fitness coming to Five Points Mall

Select Strategies Realty recently signed Planet Fitness to an 11 year lease at Five Points Mall in Marion, IN.  The fitness center will occupy  16,688 SF between Roses and Bath and Body Works.  Following major renovations of the space, the fitness center plans to open late Summer or early Fall of 2017.  As brick and mortar retailers continue to struggle, fitness centers will be an opportunity for retail centers moving forward.

Click here to read an article posted by the Chronicle Tribune about the new Planet Fitness location.

Amazon to create $1.4B air hub at CVG

Image result for holiday shopping

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.

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.

Article can be found here.

West Volusia Towne Center adds Bath & Body Works to Retailer Lineup

OrangeCity-0465

Select Strategies Realty announced Bath & Body Works signed a new 10-year lease in December 2016. Bath & Body Works joins newly leased Kay Jewelers and other key tenants including Kohl’s, Petco, Ross and Michael’s.  They will take over 3,050 SF of space located between Ross and Michael’s.
Bath & Body Works is one of the world’s leading specialty retailers and home to America’s Favorite Fragrances®. They offer a breadth of exclusive fashion fragrances for body and home, including the #1 fragrance collection in America, Japanese Cherry Blossom; the #1 selling 3-Wick Candle and the #1 selling Hand Soap collection. Additionally, Bath & Body Works has more than 150 stores in 35 other countries operating under franchise, license and wholesale arrangements.
West Volusia Towne Center is a 154,477 power center located in the commercial hub of southwest Volusia County near the under-served communities of DeBary, Deland and Deltona.

Robert Taylor Joins Select Strategies Realty

Select Strategies Realty is pleased to announce and welcome Robert Taylor as Executive Vice President of the Retail Investment Group.  Rob is a well-known figure in the commercial real estate industry. With over 20+ years as Senior Vice President at Cushman & Wakefield, Rob focused on Retail Investment Sales with Institutional and Private Client Investors in the U.S. and Canada.  His accomplishments span all aspects of retail projects: land, shopping centers, restaurants, freestanding retail buildings as well as rehab projects.
robtaylor_9-2011
Mr. Taylor has a proven track record of facilitating long-term business relationships with both clients and investors alike.  His winning attitude and personality are assets that will enhance Select’s ability to provide our clients with maximum value and creative transactions. Retail investment services in the Midwest will continue to be the focus of Select Retail Investment Group.
Rob holds a CCIM designation (Certified Commercial Investment Member); Ohio Real Estate Salesperson and Broker License; Member of the Cincinnati Board of Realtors Multi-Million Dollar Club. He holds a Bachelor from Miami University.

Robert Taylor

A BRIGHT IDEA -LED Bulbs Make Appearance @ Beechwood Square

The VA Center at Beechwood Square will soon have a bright new look thanks to an upgrade to LED lighting! By taking advantage of a generous rebate offered through their energy supplier, the VA will be outfitted with all new indoor LED bulbs within the next few weeks. LED bulbs offer greater energy efficiency over standard fluorescent bulbs, resulting in lower electric bills. It’s estimated that the new bulbs will pay for themselves in about six months. A ten year warranty on the bulbs offers an added benefit to making the switch.

“We continually focus on upgrading and improving our centers here at Select Strategies”, says Matt Stark, Select Strategies Leasing Director. Mr. Stark adds, “We’re confident this small change will have a positive impact on the energy bills and overall interior look of the building.”

20101128_select_174503 (2)

Grocery-Anchored Shopping Centers For The Win!

Grocery-anchored shopping centers continue to offer convenient and necessary shopping options for consumers. Find out more about how these brick and mortar shopping centers are keeping up with the changing needs of consumers and adapting to multi-channel shopping experiences.

Shopping Center Business

Take a look at some thriving grocery-anchored centers, some with small shop space available!

Pierce Town Center
University Plaza
Kmart Plaza
Colonial Plaza
Town Park