Kushner’s Post

Redevelopment Begins-Regency Mall starts phase one of redevelopment project

#America's malls continue to transition from sprawling retail superstructures into mixed-use, lifestyle-centric neighborhoods. Most recently with the redevelopment of the Monmouth Mall, led by Kushner Companies. When the redevelopment concludes, the new space will feature a reduction of the overall #retail space, making way for 1,000 new #apartments, an open-air central promenade, amongst other amenities and new uses, like restaurants and medical offices. In separate reporting by The Real Deal, of the 153 mall redevelopments happening across the country, more than half include a #housing component. I'm not sure about you, but this trend seems to be a great way to breath new life into some of the country's legacy #RealEstate, while addressing current issues, like the #HousingShortage. Not too bad for a mall that was so dead, it was featured in the Walking Dead, where it was sprawling with zombies.

Organization "Renewal of Downtown Lease with Durst Organization for Three Retail Tenants" Read the full article below..

Embracing Change in Commercial Real Estate: Hudson’s Bay Closes in Burnaby - A Bold Move Forward 🏢🌆🚀” The news of Hudson’s Bay closing its Burnaby location might feel like the end of an era, but I believe it’s actually the dawn of an exciting new chapter for commercial real estate. Here’s why: 🌟💫 Key Insights: • A Symbol of Transformation: Hudson’s Bay’s closure is a daring step that aligns with the visionary multi-phased redevelopment plan of turning the mall into a high-density mixed-use district 🏬✨🏗️ • A Comeback Strategy: The brand’s planned comeback at Oakridge Park demonstrates resilience and adaptability, setting a positive precedent for other retailers 🎉🌱 • An Opportunity for Green Development: The closure follows a broader trend of prioritizing sustainability and green spaces in commercial real estate, making room for more green space components 🌳🏢 In my view, Hudson’s Bay is setting an example by taking a bold but necessary step towards modernization and sustainable growth. Read more in the full article by Kenneth Chan here. https://lnkd.in/gbt8W4f4 📍 The future is bright, and it’s time for us all to embrace change, innovate, and grow! 🚀💼🌍 #CommercialRealEstate #RetailRevolution #Redevelopment #SustainableGrowth #Innovation #NAI #NAICommercial

**Seattle, WA – May 16, 2024** – Victory Lane Brokerage, a key player in Seattle’s commercial real estate scene, proudly announces the successful conclusion of its latest mid-rise development in the Northgate area. The project, Northgate 100, marks a significant milestone in enhancing lifestyle apartment offerings in the region. **Northgate 100 Development:** Northgate 100 features 80 residential units and 2 retail stores, with potential expansion to 90 units and 75 parking spaces. Initially conceived as a modular construction project, Victory Lane Brokerage meticulously navigated planning and negotiation to bring this vision to fruition. Collaborating with esteemed modular architects JacksonMain, Northgate 100 sets new standards in cost-effective construction and rapid occupancy timelines. Victor J. Hernandez, Owner of Victory Lane Brokerage, emphasizes the significance of modular mechanics in development. “The future of nearly any type of development use will be dominated by modular mechanics and construction. It is a high core competency, high-performance field, but the long-term growth potential is undeniable,” says Hernandez. The site currently hosts two leased buildings, generating significant monthly revenues. With innovative parking solutions and prime zoning, Northgate 100 promises to be a high-profile, cutting-edge addition to the urban landscape. **Prime Investment Opportunity: Pinehurst Retail Building** Victory Lane Brokerage also presents the Pinehurst Retail Building, a premier commercial real estate opportunity in Northgate, Seattle. Listed at $2,975,000, this versatile space offers strong potential returns and a strategic foothold in a thriving commercial hub. **Key Features:** - **Price:** $2,975,000 - **Size:** 5,656 SF on a 16,259 SF lot - **Net Operating Income (NOI):** $78,830 - **Cap Rate:** 2.65% - **Zoning:** NC2-55 (M), ideal for mid-rise development The Pinehurst Retail Building features a distinctive half-barrel roof, expansive open floor plan, dual ADA restrooms, and a long-standing food truck tenant, adding an attractive cash flow component. **Contact Information:** For more details, contact Victor J. Hernandez at (206) 245-0159 or via email at [email protected]. **Watch the Video Tour:** https://lnkd.in/e3CWcEmQ **Hashtags:** #CommercialRealEstate #SeattleRealEstate #InvestmentOpportunity #RetailSpace #NorthgateSeattle #PropertyForSale #RealEstateInvestment #DevelopmentOpportunity #VictoryLaneBrokerage

Namar and Mason Announce Retail Redevelopment Plan Read the full article below..

Cannelle Cafe, downtown Farmington, Mi. Metro Detroit, Lake Belt Megaregion. Stopped by this newly opened independant, locally owned and managed cafe this week. they have a couple of cafés in the metro Detroit region. A terrific one in downtown Detroit in Capitol Park and one in Birmingham. And now, this terrific small location in Historic Downtown Farmington. It is a fresh, smart design, that accentuates a corner of one of the main historic blocks of this excellent Small Downtown District A great example of small retail else to activate a walkable urban District At barely 15 feet wide, this efficient and effective small retail space, is a Great Asset to the community and the built landscape Another excellent example of how important it is to have small, retail spaces in downtown’s that can accommodate these independent, local businesses. Too many developments create retail spaces that are far too large, that could never accommodate places like this. Making them often too difficult to fill, a challenge to find a retailer that will take on such a large business, and they usually have to be national chains to do it. Small spaces like this, attract innovative and local independent retailers that usually provide higher quality services, products, and that really enhance downtowns We need many more of these spaces and businesses,and less giant spaces and national chain stores Bravo to Cannelle and the owner, Matt Knio, and to Farmington for working with such great establishments that enhance their city #leadership #citybuilding #thelakebelt #wintercities #4seasoncities #thelakebelt #investincities #effectivemunicipalities #farmingtonmichigan #independantretailers

Just Closed: Retail Strip on 27th Avenue | 27 Parking Spaces | T6-8-O Zoning CLOSING HIGHLIGHTS *Sold at 98% of List Price *Procured Multiple Competitive Offers *Negotiated Favorable Owner Financing for Both Parties INVESMENT HIGHLIGHTS *Retail Strip Center Situated on a Double Lot with Left Turn In *Development Potential: The Property is Zoned T6-8-O allowing the construction of an eight-story, 65-unit residential building with Current Income in place. *Short Term Leases: 5 of 6 Tenants Leases Have Expired or Expire Within Nine Months, offering flexibility for potential investors to reposition or redevelop the property as desired *27 Parking Spaces – 3.5 Spaces Per 1,000 SF *All Tenants Separately Metered for Water & Electric *Improvements: Silicone Seal Applied to the Roof & Building was Repainted *Second Generation Restaurant (Equipped with Hood & Grease Trap)

Lansdale Revitalization: Mixed-Use Developments - Growing & Thriving Soleil Luna Hair Salon expands and moves to new location. Day One at their new location on Madison Street in the Lansdale Station Apartment complex. Challenges to Mixed-Use Developments: Lansdale Station is a 180 unit, upscale apartment complex in Lansdale’s downtown. Part of the project’s redevelopment included 7,500 sq/ft of mixed-use retail space. Property owners had the initial lease rates at 64% above the average lease rate in Lansdale’s downtown. There has been considerable interest in this prime location and we have toured scores of prospects through the site. However, as a result of the higher lease rates securing a tenant proved insurmountable. As a result the first floor commercial space sat vacant for more than five years, until now. Solution: The property owners reevaluated their lease rates, adjusted them to align with the community’s norms and have now begun to lease the spaces. #makeitmontco #chamberGMC #discoverlansdale #northpennnow #johnernst #soleillunahairsalon #barthconsultinggroup