Olshan Properties Announces Retail Highlights
May 21, 2018, 10:28 ET
NEW YORK, May 21, 2018 /PRNewswire/ -- As ICSC RECON kicks off in Las Vegas today, Olshan Properties, one of the country's leading private owners, developers and managers of residential, commercial, hotel and mixed-use real estate, provided key updates about the company's vibrant national retail portfolio from the past year.
Olshan Properties owns and develops multifaceted destinations that appeal to tenants by attracting and maintaining a loyal customer base that appreciates the retail, restaurant and entertainment offerings at each of our centers. The company's decades-long record of success in creating true mixed-use destinations of various types and sizes now spans ten states and 9 million square feet. In addition, Olshan Properties' diverse retail holdings comprise the single largest component (based on total square feet) of their CRE portfolio.
"In the past year, we generated significant leasing activity throughout our retail portfolio and, most notably, within our mixed-use destination properties," says Andrea Olshan, CEO at Olshan Properties. "Our properties benefit from prime locations, strong demographics and a longstanding relationship with the communities in which they operate. We continually adapt our offerings to changing consumer habits by integrating experiential retail and fresh new entertainment and dining concepts to better serve the needs of our customer base at each property."
Key leasing deals and planned developments within Olshan Properties' core town center portfolio include the following:
- In Dayton, OH, The Greene Town Center, is bringing in exciting new tenants such as Dry Goods and Altar'd State, in addition to several new restaurant and dining options including Auntie Anne's Pretzels and Fuzzy's Taco Shop. The Greene also finalized long term renewals with dynamic local retailers Jake's Toggery and Occasionally Yours in addition to several 'pop-up' tenants who have since committed to permanent locations at the center.
- The Shoppes at Webb Gin, located near Atlanta, Ga., has generated a flurry of new deals. During the past year alone, Webb Gin welcomed H & M, Rack Room Shoes, Berkshire Hathaway, RSVP Prom and Pageant, SmallCakes Cupcakery and an expansion of the existing Victoria's Secret store. Several other new leases are being finalized as of mid-May, too.
- Zona Rosa Town Center, located in Kansas City, Missouri, renewed national tenants such as Outback Steakhouse, Journeys and Build-A-Bear Workshop. The center also welcomed new regional and local restaurants and retailers offering a wide variety of dining options and shopping experiences, such as Draftcade and The Brownstone.
Ken Marshall, Head of Retail at Olshan Properties, identifies experiential retail as one of the fastest-growing segments within the portfolio. Adds Marshall: "We are actively working with many forward-thinking retailers who see our properties and depth of operational experience as the ideal way to capitalize on selling experiences rather than just consumer goods. We also are identifying ways to re-configure some of our properties to better accommodate these types of businesses as they increasingly expand."
Additional leasing deals from Olshan Properties' retail portfolio include the following:
- At Siegen Lane Marketplace in Baton Rouge, LA, an eleven acre parcel of land was sold to Topgolf, a national golf-focused sports entertainment complex which is expected to open in late 2018. In addition, plans are being finalized for over 100 acres of undeveloped land near the center to be converted into a mixed-use development;
- At Great South Bay in West Babylon, N.Y. a lease with Phenix salons was executed;
- The Gate at Manhasset, located in the dynamic Manhasset, NY market, is fully leased with several top names. Olshan Properties is actively exploring a re-development of the center; plans for which will be announced later this year;
- At Parkchester, in the Bronx, NY, Zaro's Deli recently opened and City MD and Starling Diagnostics are both under construction and plans for the creation of additional retail space in a dynamic mixed use environment in the Bronx are also underway here;
- At 3rd Avenue and 60th Street, Zavo Restaurant and Lounge officially opened for business earlier in 2018.
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 more than 55 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.
SOURCE Olshan Properties
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