OLSHAN PROPERTIES ANNOUNCES Q1 RETAIL HIGHLIGHTS
--Buoyant Town Center Leasing and Strategic Redevelopment Plans Driven by Attractive, Diverse Mixed-Use Portfolio--
NEW YORK, NY – May 18, 2015 – Building on its strong momentum, Olshan Properties, one of the country’s leading private owners, developers and managers of residential, commercial, hotel and mixed-use real estate, today reported a robust start to leasing in 2015 across its diverse 11 million square foot retail portfolio.
“The first quarter of 2015 marked a significant amount of leasing activity across our core retail portfolio,” said Andrea Olshan, CEO of Olshan Properties. “With more than half a million square feet of combined square feet leased during this period, which is a substantial increase over the same period last year.”
“This significant leasing momentum demonstrates the strength of our retail portfolio and underscores our dedication to serving our existing retail tenants and to accommodating their growth plans at every stage,” added Olshan.
Olshan Properties’ diverse retail holdings, which are located in ten states, include award-winning town-, community- and power-centers as well as prime urban retail locations. In recent years, the retail portfolio has grown through strategic acquisitions, ground up developments, new partnerships and re- development opportunities. In-house leasing, operations, capital markets and asset management teams oversee the entire portfolio on a real-time basis. In addition, Olshan Properties relies on an internal demographics team to enhance its marketing efforts and ensure that its retail assets consistently outperform their peers. In terms of square feet, Olshan Properties’ diverse retail holdings comprise the single largest component of their CRE portfolio.
“As owners and operators of four asset classes, we understand how to create multifaceted destinations that draw customers, keep them on site and drive tenant sales. Our success with true mixed-use destinations of various types and sizes insures our ability to create value in many different markets across the country,” said Matthew Winn, COO of Olshan Properties.
Adds Winn: “We have integrated the best elements of each asset class into all of the properties that we own and operate, and, because of this unique approach, more than half of the retail centers in our portfolio are located in a mixed-use environment. The excellent performance of our retail portfolio demonstrates how this approach resonates with consumers and with tenants, both of whom view these mixed-use environments as an opportunity for much greater growth potential than any single-use developments can offer.”
Key highlights from the first quarter involving Olshan Properties’ (“Olshan”) retail portfolio included the following:
Regus, the largest office suite provider in the nation, signed an 11,000 square foot lease at The Shoppes at Webb Gin, a Town Center located near Atlanta, GA;
In Kansas City’s Zona Rosa Town Center – which this year marks its tenth anniversary - Olshan renewed more than 130,000 square feet of retail leases;
At the Bayshore Town Center in Glendale, Wisc. Olshan announced plans to develop 300,000 square feet of additional mixed-use property on the north end of the Center. In addition, a new 17,000 square foot Old Navy store is being constructed at Bayshore with a fall 2015 completion date;
In Dayton, Oh., a first to market retailer, the World of Beer, along with Winan’s Chocolates, a local chocolatier, have recently signed leases for new stores at the Greene Town Center;
Banking giant JP Morgan also expanded into a 14,000 square foot office at the Greene;
At the Mercury Plaza Shopping Center in Hampton, Va., Olshan announced the addition of a new 22,000 square foot Marshalls store that will open later on this summer;
In New York City, Olshan announced that cutting edge fitness chain Flywheel opened a 4,500 square foot studio at the Savoy on Third Avenue and 60th street in midtown Manhattan;
On the retail leadership front, Olshan in January welcomed new COO (and retail industry expert) Matthew Winn who formerly served as the Global COO and Leader of Cushman & Wakefield’s retail brokerage platform in the Americas.
A senior level team of executives from 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.
Olshan Properties also serves as a General Partner of the Longview and RCG Longview series of debt and equity funds as well as the Normandy Venture Partners series of opportunistic equity funds.