Crombie REIT’s Post

I don’t believe the question is whether Fourways Mall can be fixed. Our market has seen many ‘white elephants’ turned into ‘golden geese’, to say such a property as this is beyond the point of return would be an overestimation. I think the better question is whether this is the right team for the job. Undoubtedly they have the expertise and experience. The key will lie in how fast and effectively the developing, leasing and management arms can come together to address the pertinent problems. Fourways Mall in my opinion has still much to offer and yet to be unlocked. Looking forward to seeing how our team will handle the task ahead.

JUST SECURED - $6M WAREHOUSE WITH MASSIVE RENTAL UPSIDE Location: Melbourne Purchase Price: $6,000,000 Initial Yield: 5.5% net Projected Yield: 7.8% net Date Acquired: 2024 Method: Off-Market Why we like it? The off-market transaction involved purchasing a freehold industrial property in a prime industrial area of Melbourne. The property is leased to a long term tenant at below market rent (30% below), therefore an opportunity exists to increase the rent significantly at market review, bringing the yield to potentially over 7.8% net.

Bussel Realty Retail Services Leases 4,000 SF of Retail Space For New Sherwin-Williams Store at 200 K. Johnson Boulevard North in Bordentown, New Jersey Bussel Realty Corp. (BRC), a leading industrial/retail real estate services firm in New Jersey, leased 4,000 square feet of retail space at 200 K. Johnson Boulevard North in Bordentown, New Jersey, on behalf of Sherwin-Williams. The leading paint manufacturer opened its new retail store this month.   Chandler Vanderbeek, vice president, and Connor Vanderbeek, vice president, of BRC Retail Services represented Sherwin-Williams in the transaction. The landlord, K. Johnson Development Group, recently developed the new 14,000-square foot retail strip center.   Sherwin-Williams joins several other leading retailers such as Dollar Tree, Learning Experience and Cube Smart Self Storage at this newly constructed retail center in the heart of Bordentown.   Totaling 130,000 square feet, Team Campus Phase II located at 200 K. Johnson Boulevard North in Bordentown, New Jersey offers great highway visibility and easy access to Routes 130 and 206, I-295 and the New Jersey Turnpike.   About Sherwin-Williams The Sherwin-Williams Company delivers the best in paint and coatings products to the world. Every day, the firm’s more than 64,000 employees provide the energy and experience to build on its track record of success – enabling the company to innovate and grow in new and exciting ways. With its people as the foundation of the company, Sherwin-Williams offers industry-leading innovation, value-added service and expertise, and differentiated distribution to its growing base of professional, industrial, commercial and consumer customers.   About Bussel Realty Corp. With one of the largest dedicated industrial brokerage staffs in New Jersey, Bussel Realty Corp. (BRC) is a leading industrial/retail real estate services firm located in Central New Jersey with individual memberships in the Society of Office & Industrial Realtors (SIOR). BRC provides leasing and sales brokerage services to users, corporate occupiers, landlords, retailers, owners, and investors, representing millions of square feet of property and tenant client assignments annually. The firm’s clients have included several of the largest Fortune 500 Companies, as well as numerous manufacturing, distribution, retail and services companies both nationally and locally. Currently, BRC is handling in excess of three million square feet of corporate and industrial real estate in New Jersey. #busselrealty #commercialrealestate #commerciallisting #commerciallistings #commercialproperty #commercialspace #commercialrealestate #commercialleasing #commercialleasingagent #njcre #retailspace #retailrealestate #retaillease #newjerseyretail #northernNJ

JUST SECURED - $6M WAREHOUSE WITH MASSIVE RENTAL UPSIDE Location: Melbourne Purchase Price: $6,000,000 Initial Yield: 5.5% net Projected Yield: 7.8% net Date Acquired: 2024 Method: Off-Market Why we like it? The off-market transaction involved purchasing a freehold industrial property in a prime industrial area of Melbourne. The property is leased to a long term tenant at below market rent (30% below), therefore an opportunity exists to increase the rent significantly at market review, bringing the yield to potentially over 7.8% net.

Warehouse REIT is pleased to announce that it has acquired Phase 2 of Ventura Retail Park, a 13-unit scheme in Tamworth, close to Birmingham, for £38.6 million, representing a net initial yield of 7.4%. Built in two phases, Ventura is one of the top 20 shopping parks in the UK by sq ft. Phase 2 covers 120,000 sq ft and is fully let to a high quality occupier line up including Boots, Sports Direct and H&M. Contracted rent across the scheme is £3.1 million and the WAULT is 6.4 years. Simon Hope, Warehouse REIT, commented: “This was a rare opportunity to acquire an asset that will be earnings enhancing in year one. Retail warehousing is a sector where we have deep experience, and which plays to our strengths in multi-let asset management. Rents have rebased and are now starting to grow, while pricing remains attractive relative to equivalent assets on the multi-let industrial side, which should support earnings and help rebuild dividend cover – a key priority for this business.” Find out more here: https://lnkd.in/gijqr8RC #realestate #investment

End Cap & Inline Retail at the King Harbor Plaza in Redondo Beach ☀️ Nestled along the picturesque shores of Redondo Beach, California, the King Harbor Plaza stands as a beacon of premier commercial real estate. This vibrant destination seamlessly blends sophistication with coastal charm, offering a unique and sought-after location for businesses seeking a dynamic setting. The prime address ensures visibility and accessibility, making it an ideal hub for retail, dining, and professional services. King Harbor Plaza is not just a location; it's a statement of prominence and prosperity in the heart of Southern California's thriving business landscape. Elevate your business to new heights at the King Harbor Plaza's coveted endcap retail space on Pacific Coast Highway. This premier leasing opportunity presents an unparalleled chance to showcase your brand in a high-traffic, high-visibility location. Benefit from the synergy of a diverse tenant mix within the plaza, drawing a steady flow of foot traffic. The strategic positioning along the iconic Pacific Coast Highway ensures your business captures the attention of both locals and visitors alike. Seize this chance to make a lasting impression in the heart of Redondo Beach's thriving commercial scene. HIGHLIGHTS -Coveted leasing opportunity with high-visibility end cap retail space. -Strategic location on Pacific Coast Highway for maximum exposure and accessibility. -High-traffic location on iconic Pacific Coast Highway for broad customer reach. -Synergistic tenant mix within the plaza ensures a steady flow of foot traffic. Aaron Guido DRE # 01924252 Aaron@cbm1.com (714) 769-6117 Daniel Barriga DRE # 02031360 Daniel@cbm1.com (949) 608-4886 https://lnkd.in/gnWcEQYa CBM makes no warranties or guarantees as to the accuracy of the information provided herein, it has been obtained from sources considered credible, however, it has not been verified. The information contained herein is subject to errors and omissions and is subject to change without notice. Any and all projections, opinions, assumptions, and/or estimates provided are for the purposes of example and may not represent actual performance of this property. CBM is performing acts that require a real estate license. CA Real Estate Brokers Lic # 02130240

Final stage of Stockland’s Willawong Distribution Centre now leasing - Knight Frank and JLL The fourth and final stage of Stockland’s Willawong Distribution Centre in Brisbane’s south is now available to lease, with demand expected to be strong. Knight Frank agents Mark Clifford and Lachlan Hateley in conjunction with JLL agents Sam Stewart and Shaun Canniffe are marketing the space for lease on behalf of Stockland. Mr Clifford said there were exciting leasing opportunities in the final stage of the development, which had been very successful to date. “Almost all of the space in the first three stages has been leased, with just one section remaining,” he said. Mr Stewart from JLL said Willawong Distribution Centre was highly sought after by industrial users, with a major drawcard being its central location. “The Willawong locality provides excellent connectivity to local and regional markets, with the estate being located midway between the Logan Motorway to the south and the Acacia Ridge Rail Marshalling Yards to the north,” he said. Stockland Executive General Manager, Logistics, Tony D'Addona said Willawong Distribution Centre is a quality logistics centre strategically located to meet demand for parcels, products, goods and services in the growing region. “Willawong Distribution Centre is a prime example of how location is key in the logistics sector. Knight Frank Australia Tony D'Addona Stockland James Templeton Peter Blade (JP) Henri Thorsen Elliot Ryan Harry Homan Vanessa De Groot Sarah Clark COMMO Andrew Whitson Petie Walker Ian Sutcliffe Tarun Gupta Phillip Newton Chris Orr Craig Lenarduzzi Marcus Donnelly Tamika Magann #jll #jllaus #knightfrank #stockland #industrialleasing #industrialland #industrialdevelopment #industrialproperty #brisbane #logistics #supplychain #logisticsrealestate #brisbanebusiness

ICYMI VIDEO: Craig Patterson, Publisher at Retail Insider, and Casdin Parr, Vice President Retail Advisory Services at JLL Canada, discuss the current state of Canada’s retail leasing market, delving into the challenges and opportunities facing various retail sectors. They explore how high street retail in cities like Toronto and Vancouver is experiencing a resurgence, with significant openings. Parr highlights the momentum in Bloor-Yorkville in Toronto, and the revival of Ste- Catherine Street in Montreal as key indicators of positive trends in high street retail. The luxury retail segment is discussed, which remains strong despite economic uncertainties. Parr explains that while the demand for luxury retail continues, there is a more tempered approach to expansion, with brands planning their capital investments carefully. Notable developments include the upcoming Royalmont in Montreal and Oakridge Park in Vancouver, both set to introduce new luxury brands to the Canadian market. Further, they discuss the impact of major retail developments and tenant movements in various regions. From Simons entering the Toronto market to the redevelopment of Nordstrom’s space in Vancouver, these changes signal significant shifts in the retail landscape. Parr emphasizes the robust demand for retail spaces in Edmonton and Calgary, driven by strong local economies and consumer responses. https://lnkd.in/gaeHgrZH #business #news #retail #CRE #realestate #leasing JLL Casdin Parr

Bussel Realty Retail Services Leases 3,100 SF at 245 Route 22 in Green Brook, New Jersey EDISON, NEW JERSEY (August 19, 2024) – Bussel Realty Corp. (BRC), a leading industrial/retail real estate services firm in New Jersey, leased the entirety of 245 Route 22 in Green Brook, New Jersey, a 3,100-square-foot retail property, to Wonder Food Delivery & Take Out.   Chandler Vanderbeek, vice president, and Connor Vanderbeek, vice president, of BRC Retail Services represented the owner, F&E Green Brook Corner LLC, in the transaction. Wonder Food Delivery & Take Out was represented by Jeffrey Realty. The retailer is expected to open its doors in January 2025. “This is a great addition to the Green Brook market as Wonder continues to expand their footprint throughout New Jersey,” noted Connor Vanderbeek. With more than 44,370 vehicles per day passing the site, 245 Route 22 in Green Brook, New Jersey is located at a traffic-controlled intersection with great visibility off Route 22 and easy access to Warrenville Road and I-287. The retail property offers plenty of parking and is near such retailers as Starbucks, Dunkin’, AT&T, Mavis, Basset Furniture, Walgreens, Harbor Freight Tools, Taco Bell and Dollar Tree. About Wonder Wonder.com is a food delivery service that partners with restaurants and chefs to offer a variety of menus. Wonder offers delivery, pickup, and dine-in at their locations. Wonder's meals are prepared fresh and delivered in about 35 minutes. About Bussel Realty Corp. With one of the largest dedicated industrial brokerage staffs in New Jersey, Bussel Realty Corp. (BRC) is a leading industrial/retail real estate services firm located in Central New Jersey with individual memberships in the Society of Office & Industrial Realtors (SIOR). BRC provides leasing and sales brokerage services to users, corporate occupiers, landlords, retailers, owners, and investors, representing millions of square feet of property and tenant client assignments annually. The firm’s clients have included several of the largest Fortune 500 Companies, as well as numerous manufacturing, distribution, retail and services companies both nationally and locally. Currently, BRC is handling in excess of three million square feet of corporate and industrial real estate in New Jersey. #busselrealty #commercialrealestate #commerciallisting #commerciallistings #commercialproperty #commercialspace #commercialrealestate #commercialleasing #commercialleasingagent #njcre #industrialspace #warehousespace #warehouselease #newjerseywarehouse #northernNJ

🚨JUST SOLD!🚨 Eric Szerlag and Mark Szerlag have been marketing The Hudson Building for lease whenever there has been a vacancy over the last several years. They strategically brought leases to market with each new vacancy or tenant renewal to position the building for sale. After formally bringing the building to market for sale, they were able to close the transaction within 4% of their asking price 📍56849 Grand River, New Hudson ✅$3,200,000 ✅100% occupied multi-tenant retail/office building in New Hudson ✅Successfully brought vacancies up to market rent and negotiated converting gross leases to NNN as leases came due to facilitate the sale 📳For more information on this sale contact Eric Szerlag or Mark Szerlag at 248-476-3700 or eszerlag@thomasduke.com, mszerlag@thomasduke.com #cre #justsold #thomasduke #office #retail #multitenant #forsale #sold #realestate #fullyoccupied #leasenegotiations #NNN #investment #investmentproperty #grosslease #retailinvestment #thomasdukeco