Press Release brought to you by NAI/Merin Hunter Codman

Northern Palm Beach County is Going to the Dogs (and other pets)

08/04/2015

Northern Palm Beach County is Going to the Dogs (and other pets)

-- Pet Supermarket expands to Tequesta to serve northernmost areas

of Palm Beach County into Martin County --

 

West Palm Beach, Fla. -- NAI/Merin Hunter Codman, Inc., one of South Florida’s leading commercial real estate services firm, today announced that it has leased prime retail space on US 1 in Tequesta, Florida to Pet Supermarket, one of North America’s largest pet supply retailers. The Sunrise-headquartered retailer signed a long-term lease for 6,700 square feet of space at Village Square of Tequesta, establishing the chain as the only large pet retailer in the city and pointing to the continued success of the industry in general. Pet Supermarket now has more than 150 stores nationwide with over 100 in Florida alone. One of the primary industry trade publications, Pet Business, refers to the pet supply industry as a “powerhouse of growth,” reflective of continually increasing pet ownership in the U.S. Approximately one-third of all households in America own a dog and nearly as many are cat-owners.[1]

 

“There was a void in northern Palm Beach County for a leading pet specialty store, and Pet Supermarket will fill that void in a prime location,” said Bruce Corn, Managing Director of the Retail Services Group of NAI/Merin Hunter Codman. “The location offers exceptional visibility with 30,000 cars driving by on US 1 daily.” Mr. Corn negotiated the new lease on behalf of the property owners, Tequesta Investors, LLC.

Village Square at Tequesta is a 74,000 square-foot strip center on US 1 at Tequesta Drive in Tequesta, which is the northernmost city in Palm Beach Country. Martin County lies to the north. The new Pet Supermarket is expected to service pet owners in both counties. The store began build-out this month and is expected to have a grand opening prior to year-end. The new store’s address will be 229 US 1 in Tequesta.

Added Jordan Paul, CEO of NAI/Merin Hunter Codman, “The retail market in South Florida is strong mirroring our robust residential recovery."

Mr. Paul noted that NAI/Merin Hunter Codman has leased close to 27,000 square feet at the Tequesta strip center in the last 18 months alone. Additional tenants at the center include West Marine as a strong anchor, Tequesta Brewery, and Hog Snappers Shack & Sushi, among others. The immediate area offers many other retail amenities that draw consumers to the vicinity including bank branches, pharmacies, grocery and clothing stores, and more.

Pet Supermarket noted late last year that it was continuing to look at real estate opportunities, either freestanding buildings or buildings in strip centers, and it was especially interested in high traffic areas with high-traffic anchor stores — features that Village Square at Tequesta offers.

Pet Supermarket, www.PetSupermarket.com, is headquartered in Sunrise, Florida. Each Pet Supermarket store offers more than 9,000 pet products with items including food, toys, and treats and supplies for dogs, cats, fish, birds and small animals. The company’s motto is: “Have a healthier pet for less.”

 

About NAI/Merin Hunter Codman

NAI/Merin Hunter Codman, www.mhcreal.com, is one of South Florida’s leading commercial real estate services firm with over three decades of experience advising clients on strategic acquisitions and dispositions and providing landlord representation, tenant representation, property management and construction management services. The firm has expertise in all commercial property sectors including office, industrial, retail, multifamily, hotels and land. NAI/Merin Hunter Codman’s client base includes some of the nation’s most prestigious institutional and private investors and through the NAI global network, it can facilitate property transactions around the nation and the world, serving as a single point of contact for its clients’ counsel and execution. NAI/Merin Hunter Codman is headquartered in West Palm Beach with regional offices in Boca Raton, Palm Beach Gardens and Wellington.

 

[1] 2012 Pet Ownership & Demographic Sourcebook

07/06/2015 - 16:15

Source

NAI/Merin Hunter Codman

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