Warby Parker’s Post

Simply Brokerage, LLC, as exclusive advisor to the owner, is pleased to present the opportunity to lease the soon to be the former TGI Friday’s located in the rapidly growing Concord submarket of the Charlotte, NC metro area (the “Property”). The Property is located along Concord Mills Boulevard at the entrance to Concord Mills Mall, North Carolina’s largest outlet and value retail shopping center. As the one of the predominant out parcels to the shopping center, the Property benefits from high visibility and impressive surrounding combined traffic counts of ±196,000 vehicles per day (VPD). Due to its large pipeline of commercial development and surge in employment opportunities, the trade area experienced 33% population growth within a 3-mile radius of the Property since 2010, becoming one of North Carolina’s fastest growing cities. The Property’s irreplaceable location makes this a desirable location for generations to come. The large and highly accessible 1.83-acre lot presents significant opportunity with a recently constructed flyover bridge connecting Concord Mills Boulevard to the entrance of the Mall has significantly improved the traffic flow to the mall. The bridge provides direct access to the Property and has made it the first parcel visible when entering the mall. The trade area is seeing significant development with 115,000 SF of mixed-use retail and 64,000 SF of class-A office space with more proposed construction on the way. Additionally, Red Bull has announced plans to anchor a new, $1 billion beverage production hub at the former Phillips Morris Plant Site, further boosting the local economy by bringing up to 500 new jobs to the area. The significant capital contribution underscores the continued economic growth in the market. The subject Property benefits from high visibility and traffic counts as an outparcel to Concord Mills Mall, which is institutionally owned and operated by Simon Property Group. It is currently on the map as North Carolina’s largest value retail shopping center. An astonishing 1.32M square feet of retail space. Concord Mills features over 200 specialty stores, including Bass Pro Shops, Dicks H&M, Forever 21, Coach, Nike Factory Outlet and an AMC Theatre featuring IMAX. Surrounded by outparcel restaurants such as Outback Steakhouse and a regional accolade deserving BBQ restaurant, Mac’s Speed Shop. #icsc #nationalretailbroker #Concord #northcarolinarealestate #restaurantindustry #retailrealestate #forlease

How Will 99 Cents Only Store Closures Impact Orange County? Retail Vacancy in Garden Grove, California, To Rise Most The discount retailer occupies over 500,000 square feet in Orange County. Anchor spaces below have been listed available for lease. - Yorba Linda Center, Placentia - asking $1.95 NNN - 14731 Goldenwest St, Westminster - asking $2.00 NNN - Red Hill Village, Tustin - Brookfield Promenade, Huntington Beach - Lake Forest Town Center - College Plaza Shopping Center, Fullerton - Pinnacle Plaza, Anaheim In early April, discount retailer 99 Cents Only announced that it would close all 371 of its stores across Arizona, California, Nevada and Texas. The majority of those storefronts are in Southern California, where a group of investors led by the former president of Big Lots and CEO of Pic ‘N’ Save Bargains is positioning to reopen 143 stores, following the initial closures and liquidation sales. 99 Cents Only — which is seeking Chapter 11 bankruptcy protection — occupies more than 90 locations in Los Angeles County, nearly 50 in the Inland Empire, 26 in Orange County and just over 20 in San Diego County, according to CoStar research. CoStar subscribers may read more here https://lnkd.in/gRZ3-9pA #99CentsOnly #orangecountyretail #OCRetailCRE

Forged Real Estate's Weekly Property Spotlight: Brand New STNL Starbucks (S&P: BBB+) Located in Wilkes-Barre, PA (Luzerne County Seat) $2,964,000 Price | 5.50% Cap Rate | $163,000 NOI ✓ CORPORATE LEASE WITH RENTAL INCREASES – Starbucks (S&P: BBB+) Recently commenced a 10 Year Firm Corporate Lease featuring 10% Rent Increases Every 5 Years, including in the Option Periods. ✓ NO KICK OUT – No Early Termination Right Option in the Lease. ✓ COUNTY SEAT – Located in Wilkes-Barre, PA, the Largest City by Population and the County Seat of Luzerne County. ✓ STRONG PLACER.AI PERFORMANCE OF SURROUNDING RETAIL – Nearby Surrounding Retailers rank as some of the Best Performing Locations within their Respective Chains. The Walmart Supercenter (top 98% in the U.S. & PA), Target (top 90% in PA & 88% in the U.S.), Lowe’s (top 74% in U.S.), & Home Depot (top 79% in PA). (Placer.ai). ✓ DENSELY POPULATED AREA – Wilkes-Barre is the Most Populous City in Luzerne County, PA with a Population of 118,000+ and 51,000+ HH within 5mi., which are projected to grow through 2028. Marc Mandel | James Yi | Greg Zimmerman | Stephen Schrenk | Marco DiPrinzio Click Here to View Forged Real Estate's Current Inventory: https://lnkd.in/gNh7M9PA #stnl #netlease #starbucks #nokickout #investmentproperty #cre #retailinvestment #commercialproperty #commercialbrokers

Oh no! My passionate San Francisco cheerleading is hitting a big bump. Macy's has announced that they will be closing their iconic Union Square store in the next two years. I saw the headline and immediately cringed in anticipation of the onslaught of snide remarks from the San Francisco cynics and naysayers. I will confess that I did have a moment of "what the heck?". Yet if we read the entire article and other similar articles the story is clearly not so much about the woes of downtown San Francisco, thought that is a part of the story. It is primarily another chapter in the story of the evolution of retail in America. I use that term "evolution" literally. It is perfect evidence of our friend Charles Darwin, survivial of the fittest. Macy's has struggled for decades to find their legs as a mass retailer. At one point they were going upscale, then focus on designers, then a push to middle America as the surviving national department store and more recently expansion into off price. The bottom line is that they have never figured out how to truly adapt and move beyond the 20th century (maybe even 19th century) department store legacy. If there have been recent questions, these announcement prove it, Macy's is essentially going out of business. They will continue to cut costs, save investment, tweak and try new ideas, but the future value is primarily in their real estate and to a minor amount tied to their brand. So, yes it is another bruise to downtown San Francisco, but we are in no way on the ropes, or even stunned. Who is going to bet against the ability of the San Francisco market to adapt? Really, the modern day captital of innovation and resilience? Lots of work ahead for sure, but Macy's departure is another opportunity for The City by the Bay to come back even stronger. Chris Wilson Garrick Brown James Cook John T Chang Bryan Ley #sanfrancisco #cre #retailrealestate #trustedadvisor

📽 Check out the video! NOW OPEN: Dollar General in Batavia/Williamsburg OH (Cincinnati MSA) Investment Highlights: -Price: $2,595,000 | Cap Rate: 6.87% (7.21% Blended Yield) | 108% Return of Capital via Investment Grade Corporated Guaranteed Lease -Brand New 2024 Market Prototype | 12,480-SF on a Large 2.77-AC Parcel | 1 of 129 Relocated Stores in 2023 | Prior Store was top 8% according to Placer.ai -Proven Top Location | Due to Success in the Market, DG Expanded its Footprint and Relocated Next to Prior Location -15-Year Absolute NNN Lease with Rare 5% Rent Increases Every 5-Years and in The 3, 5-Year Option Terms -Tenant is Responsible for Insurance, Taxes, Interior, Exterior, Including Roof, HVAC and Parking Lot -Boasts High Visibility Along a Main Thoroughfare | Two Access Points and Exposure to 10,200+ VPD -Proximity to a Dense Industrial Corridor, Which Includes Major Employers like Nestle-Purina Pet Food Plant, General Electric Aerospace, Huhtamaki Packaging, with an Estimated 800+ Employees -In 2020, Nestle-Purina PetCare Announced Plans to Build a $550M Facility within 3-Miles of Subject Property by 2024, Adding 300 Jobs | Proximity to Williamsburg High School, and Both Batavia Elementary and High School with 2,480+ Total Students & Teachers Combined -Historical Significance: Williamsburg was the First County Seat, Founded in 1796 | Williamsburg is Located 35 Minutes East of Downtown Cincinnati in Clermont County, One of Fastest Growing Counties in Tri-State Area -Strong Demographics: Population Exceeds 33,700 Within 10 minute drive-time and growth to continue, +3.50% through 2027. #marcusmillichap #cre #stnl #1031exchange

Industry News: Target’s ‘winning retail format’ includes large — and small — store expansions Target Corp. is pulling back the curtain on its 2023 new store openings and remodels for a glimpse of what’s to come as the retailer set an ambitious pace moving into 2024. “From more stores to more deliveries, we’ve set an ambitious pace moving into 2024," the company said in a blog post, in which it offered up details about its “winning retail formula.” Target opened 21 new stores across 10 states nationwide in 2023, with locations ranging from bustling urban hubs and sprawling suburbs to college campuses. Nearly half of the store openings were in California and New York. Four were in new markets for Target: Jamestown, N.Y.; Kill Devil Hills, N.C.; Quincy, Ill.; and Grass Valley, Calif. (The locations of the 21 new stores Target opened last year listed at end of article.) Twelve of the stores featured Target’s larger format, which averages 125,000 square feet and boasts an open layout, expanded assortment and large backrooms to support the chain’s same-day fulfillment services. The retailer went even bigger in Prosper and New Caney, Tex., and Yonkers, N.Y., with stores that averaged 135,000 square feet. ————————————————— 💥Over 16 MILLION Square Feet Represented💥 ✅Visit https://lnkd.in/gKX9JcPy for more! ————————————————— #realestate #newenglandretail #property #forsale #retail #realestateinvesting #business #broker #realestatenews #properties #investor #investmentproperty #connecticut #nerp #newengland #connecticutnews #newenglandrealestatenews

I realize I've been posting a lot about San Francisco lately - I would stop if it became less newsworthy. Instead, the hits just keep on coming, with yesterday's BOMBSHELL that MACY'S IS PLANNING TO CLOSE ITS 700,000 SQ FT UNION SQUARE FLAGSHIP IN THE COMING YEARS (link below). This was no doubt a heavy blow, and at the same time, a bit of a headscratcher, given that Macy's owns its building and would be selling into a down market. Moreover, large brands need the visibility generated by flagship stores in major markets - which Macy's presumably understands better than others, seeing as its 34th Street location in Manhattan has effectively carried the company for years. And it needs that visibility especially in a omnichannel model, with the role that brick-and-mortar must play in customer acquisition and retention. Obviously there's a lot we do not know, but to me, this move does not compute, at least at first glance, which suggests a couple of possibilities. One, Macy's and its new CEO are responding to pressure from activist investors eager to monetize its real estate. Two, it is putting the City on notice, as leverage for securing a hoped-for reassessment, a cash subsidy and/or even greater urgency in revitalizing the district. (Note that the store would not be closing until 2025 at the earliest). In any event, Macy's is definitely one of those legacy brands that I discussed in my last article ("What Really Happened to Downtown Retail", posted on 2/21), struggling mightily to stay relevant. Amidst all its flops in recent decades, it has also made some shrewd decisions. This, though, does not seem like one of them. #retailcontrarian #retail #retailleasing #retailrealestate #retailproperty #retailtrends #retaildevelopment #retailmarket #retailbroker #retailspace #retailindustry #retailers #downtown #mainstreet #mainstreets #citycenter #citycentre #highstreet #placer #placerai #urbanretail #icsc #commercialrealestate #ida #adrr #iedc #uli #icma #marketanalysis #futureofretail #siteselection #urbandevelopment #primeurbancorridors #jll #zoning #landuseplanning #landuse #planning #retailvacancy #vacantstorefronts #vacantretail #emptystorefronts #storefrontvacancy #citymanager #cnu #businessimprovementdistrict #communitybenefitdistrict #businessoffashion #wwd #retailbrew #storefront #downtownrevitalization #nyt #wsj #urbanregeneration #sanfrancisco #sanfranciscorealestate #unionsquare #sfbayarea #sanfranciscobusinesstimes #sfbt #sanfranciscochronicle #chron #sfgate #oewd #planetizen #economicdevelopment #cushmanwakefield #colliers #doomloop #urbandoomloop #sfstandard #kevintruong #johnking #londonbreed #boardofsupervisors #aaronpeskin #spur #covidimpact #covidimpacts #flagshipstore #flagships #paullevy #richardflorida #downtownsanfrancisco #downtownsf #dtsf #marketstreet #sanfranciscocentre #unionsquarepartnership #hoodline #SFist #costar #bisnow #TheregistrySF #svedc #kevinnguyen #macys #marisarodriguez #departmentstore #tonyspring #jeffgennette

CITY OF NORTH BRANCH, MN. showing the world that a coordinated effort between some ambitious parties can make all the difference in the world to a struggling community. HEADLINE: Brian Scholten, Caspian Group Real Estate and 4 other investors are breathing new life back into this Minnesota mall. After the previous owner priced out the tenants and almost sealed the shopping mall's fate, these folks have stepped in to unselfishly right the sinking ship. Axios Nick Halter Thanks very much for giving many of us a better feeling about the economy and some people's and / or Real Estate company's attempts to save another dying mall. Terrific news all around. Your piece starts out with North Branch which people like myself can only assume it's either a rural neighborhood or a locale descriptor of a small chain of outlet malls in Anywhere, U.S.A. Did a reasonable job in scanning your Article for the location of the mall but none was to be had. On the one hand I love abandoned buildings, churches, malls, airports and the like but on the other hand I also love the comeback stories of these pieces of Real Estate. The pandemic obviously did a number all around and it's deeply appreciated that people like yourself give society the hope for a better tomorrow, it so richly deserves. Thanks again Nick. #wholesale #retail #mall #shopping #comeback #reopening #business #commercial #commercialre #commercialrealestate https://lnkd.in/dKvC2KjZ

For years, retailers have flocked to set up shop in “it” neighborhoods in New York City. Before the #pandemic, as well as during the first couple years of its recovery, #Soho and #Nolita reigned supreme, with Valentino, Wilson Sporting Goods Co. and Vuori all opening stores there. #Williamsburg has also been buzzy among #DTC businesses, thanks to its chic cafes, thrift stores and waterfront views. Now, tides are shifting, and brands of all types and sizes — not just high-end ones — are making the move to #Midtown. Much of this is due to a major revamping of Rockefeller Center, which encompasses six square blocks. All in all, it’s a promising sign for the continued post-pandemic recovery of New York City, one of retail’s biggest markets and a major business capital. Read more: https://buff.ly/4aBhrPp