NEW YORK, NY – May 23, 2016 – With the eyes of the retail world squarely focused on ICSC’s annual RECon event, Olshan Properties, one of the country’s leading private owners, developers and managers of mixed-use real estate, today reported that leasing momentum remained strong throughout its national commercial portfolio during the past six months.
“Our core retail portfolio continues to exhibit resilience despite the increasingly uncertain economic outlook that characterized the start of the year,” said Andrea Olshan, CEO of Olshan Properties. “Compared to the first quarter of 2015, our total leasing volume based on the number of retail transactions increased by approximately 24 percent during the first quarter of 2016 and much of that activity was generated by a flurry of late 2015 deals,” added Olshan.
Highlights from Olshan Properties’ retail portfolio over the past six months include the following transactions:
• At Bayshore Town Center in Glendale, Wisc., a new 17,000 square foot Old Navy store was constructed and officially opened in late 2015;
• At Kansas City’s Zona Rosa Town Center, Unite Private Networks (UPN), a provider of high-bandwidth, fiber-based communications networks and services, relocated its Kansas City headquarters office to Zona Rosa. The center also announced two new retail tenants to include Pure Barre and Google Fiber Store;
• The Shoppes at Webb Gin, located near Atlanta, GA, welcomed several new tenants, including Cigar Bar, Fuzzy’s Taco Shop and Orangetheory Fitness;
• The Greene Town Center, in Dayton, OH., announced new tenants, Ulta Beauty, J. Crew Mercantile, World of Beer, and Mattress Firm; in addition, Lululemon opened its doors for business in late 2015;
• At Mercury Plaza Shopping Center in Hampton, VA a new, 22,000-square-foot Marshall’s opened in late 2015;
• In Midtown Manhattan’s Third Avenue at 60th Street, cutting edge fitness chain Flywheel recently opened a 4,500-square-foot studio;
• At Siegen Lane Marketplace in Baton Rouge, La., bowling anchored entertainment chain Main Event Entertainment signed a 49,810-square-foot lease for its first Louisiana location with plans to open for business in 2017;
• At Akers Mill Square, located in Atlanta, GA., two new tenants signed leases – Bonefish Grill and Sport Clips.
As a leading owner and operator of four asset classes, including retail, office, hotel and residential, Olshan Properties has mastered the art of developing multifaceted destinations that appeal to tenants by luring customers and keeping them on-site. Olshan Properties’ decades-long record of success in creating true mixed-use destinations of various types and sizes spans ten states and 10 million square feet. In terms of square feet, Olshan Properties’ diverse retail holdings comprise the single largest component of their CRE portfolio.
Among Olshan Properties’ diverse retail holdings are award-winning regional, power, and community centers as well as prime urban retail locations. In recent years, Olshan Properties’ commercial portfolio has grown through strategic acquisitions, ground-up developments, new partnerships and re-development opportunities. To closely manage this portfolio, Olshan Properties’ leasing, marketing, operations, capital markets and asset management teams oversee the entire portfolio on a real-time basis.
“Our portfolio incorporates the strongest elements of each individual asset class into the properties that we own and operate, and, as a result, more than half of our retail properties are located in mixed-use environments. It is abundantly clear that this strategy resonates with our consumers and our tenants, both of whom see mixed-use environments as holding far greater growth potential than any single-use development could offer,” commented Andrea Olshan, CEO of Olshan Properties.
Olshan Properties will be exhibiting at this week’s ICSC RECON event in Las Vegas at Booth #C1714
About Olshan Properties
Olshan Properties is a privately owned real estate firm specialized in the development, acquisition, leasing and management of commercial real estate for 56 years. The close integration of investment and operating capabilities has given Olshan Properties a reputation as one of the leading private owner/operators of commercial real estate in the country.
Olshan Properties currently owns and/or manages, individually or with its affiliated companies, a diverse portfolio of commercial properties including Retail, Hotel, Office, and Residential in eleven states. For more information, click here.