Darpan Patel’s Post

It won’t be long before a select few Costco Wholesale fans in Los Angeles will be able to live just a few flights above their favorite retailer. Thrive Living, a California-based developer, is converting a vacant lot in the Baldwin Village neighborhood of the city into an amenity-rich apartment building, complete with 800 rentable units, a rooftop pool, gym, and basketball court. The most appealing amenity, however, might just be the Costco warehouse that is slated to take up the ground floor, complete with a pharmacy and optical services. That alone makes the mixed-use building—a term used to describe a real estate project that blends residential and commercial spaces—unique. It is the first time Costco is leasing a space in a residential development like this one. Long-term, however, the biggest upside may be for Costco—and its shareholders. The retailer’s move could set a new precedent for its urban expansion strategies, giving Costco more flexibility to tap into densely populated areas and position itself closer to where shoppers live. https://lnkd.in/gN4quMAf

Another deal done with Superdrug! Thanks to John Berrill at Superdrug. It just shows what can be achieved when negotiations take place in a pragmatic and non adversarial manner. Onto the next... #Retail #AssetManagement #LeaseConsultancy #RetailLeaseConsultancy #LeamingtonSpa

It won’t be long before a select few Costco Wholesale fans in Los Angeles will be able to live just a few flights above their favorite retailer. Thrive Living, a California-based developer, is converting a vacant lot in the Baldwin Village neighborhood of the city into an amenity-rich apartment building, complete with 800 rentable units, a rooftop pool, gym, and basketball court. The most appealing amenity, however, might just be the Costco warehouse that is slated to take up the ground floor, complete with a pharmacy and optical services. That alone makes the mixed-use building—a term used to describe a real estate project that blends residential and commercial spaces—unique. It is the first time Costco is leasing a space in a residential development like this one. Long-term, however, the biggest upside may be for Costco—and its shareholders. The retailer’s move could set a new precedent for its urban expansion strategies, giving Costco more flexibility to tap into densely populated areas and position itself closer to where shoppers live. https://lnkd.in/g5GPk7e7

Whitestone REIT Acquires Garden Oaks Retail Center Read the full article below..

I was saving my yearly LinkedIn post for my 3 year anniversary in a few weeks, but today’s launch of Brooklyn Storehouse is a far more exciting milestone (first iconic, stateside partnership- watch this space!). Joining Vibration Production in 2021 at the tail end of the pandemic seemed like a crazy risk to anyone looking in at the time (and many told me as much!). Having forged my career in the comfort of big international corporates, moving into event production, heading up a finance function and being tasked with a complete overhaul/creation/imbedding of all processes and a commercially driven team was a big move away from my comfort zone but little did I know, it was going to be much more than that original job description. Best. Move. Of. My. Life. What Broadwick has given/taught me: -Collaboration; not cold hearted competition. -Good Ideas are given a fighting chance. -No one worth knowing is going to take credit for your hard work. -No one is claiming to know it all or have all the answers. -Partners that share our vision fuel us, those that don’t get it, fuel us too! -You need the tiny details to form the bigger picture (always been my mantra but now reinforced daily!). -If you can’t be unapologetically yourself, you’re not in the right place. -Working with people that push and inspire you, will be your greatest education. -And so, so, so much more. Thank you for believing in me, trusting in me and holding me to the highest standard. If giving it your all, being highly adaptable and being fully invested isn’t for you, then Broadwick won’t be. It’s more unbridled passion, inspiring ways of thinking and delivering these to the highest standard across MUSIC•CULTURE•SPACE.

This review by Mike Migone highlights an outstanding owner-user investment opportunity on St. Armands Circle. #investmentopportunity #realestate #commercialproperty #retailspace #sarasotarealestate #businessforsale #realestateinvestment #sarasotaflorida

Leamington Spa - The Parade Acting on behalf of the Landlord we have recently completed the lease extension of SUPERDRUG STORES PLC lease at 89/90 The Parade, Leamington Spa. The lease extension for a term of 5 years, without break, is another example of the evolution in lease structures at renewal and on early regears where there is now a quite clear move away from the absolute requirement for a tenant only break at the end of year 3. These extended leases provide a compelling endorsement of high street retail as an asset class and how bricks and mortar will continue to be a vital component in the retail landscape in the future. If you would like to discuss our thoughts on the occupation market or, would like specific advice on any retail assets please do not hesitate to contact Jonathan Kelley or Dan Walker. #Retail #AssetManagement #RetailLeaseConsultancy #LeaseConsultancy #LeamingtonSpa

Test and learn! Will be really interesting to see how this pilot by Loblaw Companies Limited plays out but the concept is based on a clear insight around the shopper's current quest for value, as many shoppers look to get the most out of tight household disposable budgets. The question will be how much are shoppers prepared to give up on and if enough of them are prepared to do it. Thanks for sharing Per Bank and best of luck with this pilot. I look forward to following your outcomes.

Conn's faces possible mass store closures, bankruptcy Conn's, a Texas-based furniture and appliance store, is reportedly considering closing 100 stores across the U.S. amid significant losses over the past three years. This would represent nearly 20% of its footprint and over 40% of the stores it directly controls. The company operates more than 550 locations (378 of which are dealer-owned). While plans are not yet final and no official list has been released, local news sources have reported "going out of business" signs at several locations, including: Arizona - 5530 E Broadway Blvd, Tucson Louisiana - 3437 Masonic Dr, Alexandria -10780 N Mall Dr, Baton Rouge - 2424 Manhattan Blvd, Harvey - 1779 Martin Luther King Blvd #400, Houma - 3316 Ambassador Caffery Pkwy, Lafayette - 3650 Millhaven Rd, Monroe - 150 Northshore Blvd, Slidell - 7081 Youree Dr, Shreveport Texas 3915-A Kell E Blvd, Wichita Falls Vincent Knipp 📞 (972) 755-5205 ✉️ Vincent.Knipp@marcusmillichap.com 👉 Click link for details: https://lnkd.in/gDfWf4Jd #NNN #retail #realestate #investment #investing #commercialrealestate #property #passiveincome #cre #investor #realestateinvesting #commercialproperty #netlease #retailrealestate #conns #bankruptcy

JUST LISTED: We are pleased to offer an opportunity to acquire a portion of the Tulare Pavilion Shopping Center, consisting of three strong industry-leading national/credit retailers that are focused on daily needs and resistant to the internet - Dollar Tree, Harbor Freight Tools, and Big Lots. Big Lots. The Property features corporate-executed, long-term NNN leases, with new store facades and tenant buildouts. This investment is priced well below replacement cost at $115 PSF. #shoppingcenterforsale #1031exchange #Dailyneeds #retail #retailrealestate #commercialrealestate #nnn #nnninvestments #multitenant #retailinvestmentsales #retailinvestment #retailinvesting #commercialrealestatefinancing #belowreplacementcost