6A — May 25 - June 7, 2018 — M id A tlantic
Real Estate Journal
www.marejournal.com
S hopping C enters
By Robert Cohen, Earth Treks Planet Granite The benefits of blending tenants from a variety of industries
R E T A I L
RETAIL BROKERAGE. REDEFINED .
I
n today’s development market, a focus on col- laboration and community
This is perfectly exemplified in Baltimore’s Union Collec- tive, where a variety of ten- ants are taking over a space in hopes of providing a one-stop locale for people to shop, eat, and recreate. The space, for- merly a Sears Roebuck ware- house, is set to open in May and is expected to attract new local interest in the variety of tenants, which include Well Crafted Pizza, Union Craft Brewing, The Charmery Ice Cream, Vent Coffee Roasters, Earth Treks Climbing and Fit- ness, and Huckle’s Hot Sauce. These opportunities benefit not only the tenants, who re- ceive increased business due
to a variety of cross-traffic, but they also benefit the com- munity as a whole. Along with providing diverse op- tions – which creates a more efficient and exciting shop- ping trip - they also provide a unique experience which goes far beyond that of an average shopping center. A perfect example of a dis- tinct and impactful tenant in the Union Collective space is Earth Treks Climbing and Fit- ness, who is opening a boulder- ing gym in the location. Climb- ing gyms, like Earth Treks, are powerful tenants for these locales - they not only attract a unique demographic, but they also bring them in con- sistently. While a family may go out to dinner once or twice a week, climbers frequent gyms three times per week on aver- age. This foot traffic not only boosts the gym’s performance, but also that of other retailers who benefit when a climber stops in for a coffee or a meal after a workout. Earth Treks, who recently merged with Planet Granite Climbing, Yoga and Fitness, is a prime illustration of the opportunities that lie within the climbing industry, which has been steadily growing in recent years. Nearly four new major gyms opened every month in 2017, and since 2010 the growth rate hasn’t dipped below 6%. Additionally, the merger of Earth Treks and Planet Granite was backed by private equity firm, Tengram Capital Partners, which set a precedent for the rapidly- expanding industry. Invest- ment firms are now seeing the breadth of opportunity that exists in indoor climbing – as new gyms develop nationwide, climbing retail also continues to flourish, growing at 20% per year – with Earth Treks rank- ing as the country’s top indoor climbing retailer. Climbing gyms are perfect tenants for these collaborative spaces, as they meld exercise, climbing, yoga and general fitness in locations that bring people together. Add bars, coffee shops, restaurants and retail and you have a meeting place for local communities that invites people back time and time again. By creating these collaborative spaces, we’re creating newways for re- tailers to flourish while provid- ing places for the community to continued on page 8A
ASSET & PROPERTY MANAGEMENT Bennett Williams provides unparalleled commercial property and asset management service in the Central Pennsylvania region with two Certified Property Managers and an accounting and administrative staff with a combined experience of over 90 years. We have a proven track record of reducing expenses, adding value, maximizing profits, increasing tenant satisfaction and retention.
is key. More modern re- tail centers are incorpo- rating ten- a n t s f r om a variety of industries, and they are recognizing
Robert Cohen
the benefits that these oppor- tunities offer. These spaces boost tenant success by draw- ing a diverse crowd - attract- ing customers who may have otherwise not have patronized the businesses.
York: 3528 Concord Rd. | York, PA 17402 Lancaster: 150 Farmington Lane, Suite 201 | Lancaster, PA 17601 Exton: 1 E. Uwchlan Ave., Suite 409 | Exton, PA 19341
717-843-5555 www.bennettwilliams.com
Let us help you find your place.
610.264.0200 CONTACT US
NAISUMMIT.COM
INFO@NAISUMMIT.COM
INDUSTRIAL/FLEX BUILDING
AVAILABLE FOR SALE OR LEASE
OFFICE SUITES FOR LEASE
61 W. 2nd Street, Wind Gap, PA
9,088 SF Standalone Commercial Building High Traffic Area • 2 Dock and 2 Drive In Doors 4502 Hamilton Boulevard, Allentown, PA
5,000-34,000 SF Office Space Available Plans for Renovations Spring 2018 236 Brodhead Road, Bethlehem, PA
50,000± SF • 7 Dock Doors & 1 Loading Dock 18’-26’ Ceiling Ht • Easy Access to Highways
FLEXIBLE TERMS AVAILABLE
AVAILABLE FOR SALE OR LEASE
CLASS A SUITES FOR LEASE FREE REN INCENTIV S
17,000-34,000 SF Warehouse/Flex Space 32’ Ceiling Ht • Flexible Layouts and Terms 4779 Hanoverville Rd, Bethlehem, PA
Divisible Industrial Bldg • Multiple Warehouses Office & Showroom Area • Expansion Options 600 Brighton Street, Bethlehem, PA
936, 1,729, 2,307 & 2,309 SF Office suites High residential area • Ample parking Bethlehem Medical Arts Ctr, Bethlehem, PA Class A Suites Ranging from 812-3,000 SF High Foot Traffic • H vy Residential Area Bethlehem Medical Arts Ctr, Bethlehem, PA
INDUSTRIAL/FLEX SUITE
INDUSTRIAL/AGRICULTURAL
WAREHOUSE/FLEX BUILDING
15,180 SF including 600 SF Office Area 24’ Ceiling Ht • 3 Dock Doors 759 Roble Road, Allentown, PA
Route 519, Belvidere, NJ
21,638 SF • 3 Dock & 2 Drive in Doors Easy Access to LV Int’l Airport and Route 22 1830 E Race Street, Allentown, PA
585+ AC Subdividable Land on Main Road Level Topography • Price Reduced
GREATER LEHIGH VALLEY’S PREMIER FULL SERVICE COMMERCIAL REAL ESTATE FIRM SALES/LEASING PROPERTY MANAGEMENT BUILDING SERVICES INVESTMENT SERVICES
Made with FlippingBook - Online catalogs