Patterns in Land 2003.


47 views
Uploaded on:
Description
Inhabitants have changed however the middle is still rebate situated. ... Siegen Lane Regional Shopping District 2003. Zero to 1.2 million square feet of markdown and off value retail ...
Transcripts
Slide 1

Patterns in Real Estate 2003 Presented by LSU Real Estate Institute and Commercial Investment Division of the Greater Baton Rouge Association of Realtors Dottie Tarleton, CCIM Vice President Stirling Properties The Baton Rouge Retail Market

Slide 2

Typical Shopping Center By Dottie Tarleton, CCIM

Slide 3

Center in the Eyes of the Developer By Dottie Tarleton, CCIM

Slide 4

Major Tenant Concept By Dottie Tarleton, CCIM

Slide 5

City Father\'s Concept By Dottie Tarleton, CCIM

Slide 6

REINVENTING RETAIL 1973 – 2003 A TOUR OF SOME OF THE MOST PROMINENT CENTERS IN BATON ROUGE By Dottie Tarleton, CCIM

Slide 7

Esplanade Mall By Dottie Tarleton, CCIM

Slide 8

Esplanade Mall The initially encased shopping center implicit Baton Rouge Built in 1973-tied down by Rubenstein\'s Department Store. Reevaluated itself into an Entertainment Mall as inns and workplaces clients swarmed the scene after the augmentation of Corporate Blvd. in the late 80\'s. By Dottie Tarleton, CCIM

Slide 9

Cortana Mall By Dottie Tarleton, CCIM

Slide 10

Cortana Mall Built in 1974 Slowly advanced as the retail atmosphere changed Fashion Park Cortana Square Freestanding retailers-Lowe\'s, Just for Feet, Old Navy By Dottie Tarleton, CCIM

Slide 11

Cortana Mall By Dottie Tarleton, CCIM

Slide 12

Cortana Mall Wal-Mart Super Center Bed, Bath and Beyond Shoe Carnival By Dottie Tarleton, CCIM

Slide 13

Oak Villa Extension By Dottie Tarleton, CCIM

Slide 14

Mall of Louisiana By Dottie Tarleton, CCIM

Slide 15

Mall of Louisiana Mall was implicit 1997 Bluebonnet Parc was inherent 2002 Separate proprietorship The retail blend between the two focuses compliment each other By Dottie Tarleton, CCIM

Slide 16

STRIP CENTERS By Dottie Tarleton, CCIM

Slide 17

Concord Park By Dottie Tarleton, CCIM

Slide 18

Concord Park Built in 1972-Anchored by Kmart and National Grocery Store. Occupants have changed however the middle is still markdown arranged. Great configuration By Dottie Tarleton, CCIM

Slide 19

Village Square By Dottie Tarleton, CCIM

Slide 20

Village Square Built in three stages with development beginning in 1976. Tied down by Kroger, Service Merchandise, and K & B Drugs. Antecedent to the force focus. Configuration is practically out of date in today\'s business sector. By Dottie Tarleton, CCIM

Slide 21

COMING SOON! YOUR FRIENDLY NEIGHBORHOOD WAL-MART SUPERCENTER By Dottie Tarleton, CCIM

Slide 22

Village Square By Dottie Tarleton, CCIM

Slide 23

Siegen Village By Dottie Tarleton, CCIM

Slide 24

Siegen Village By Dottie Tarleton, CCIM

Slide 25

Siegen Village Built in 1985 yet later extended. Joined Artist and Kmart were the first inhabitants. Most up to date Discount Store—Big parts By Dottie Tarleton, CCIM

Slide 26

THE POWER CENTER By Dottie Tarleton, CCIM

Slide 27

Hammond Aire Plaza By Dottie Tarleton, CCIM

Slide 28

Hammond Aire Plaza Built in 1985 First Power Center in Baton Rouge Value Oriented Category Killer Stores—Shoe Station, Michaels, Home Depot Neighborhood Component—Jr. Retail establishments: Stein Mart, Burlington Coat Factory, Marshall\'s By Dottie Tarleton, CCIM

Slide 29

The Mixed Use Concept By Dottie Tarleton, CCIM

Slide 30

Citi Place By Dottie Tarleton, CCIM

Slide 31

Citi Place Built in 1995 First blended use venture in Baton Rouge Combines office, excitement, eateries, and retail all in one anticipate By Dottie Tarleton, CCIM

Slide 32

Siegen Lane Regional Shopping District 2003 By Dottie Tarleton, CCIM

Slide 33

Siegen Lane Regional Shopping District 2003 Zero to 1.2 million square feet of markdown and off value retail in 20 years And so – the fact is that the shopping center is no more the ruler of provincial retail!!!! Commercial center at Siegen Lane 700,000 sq. ft. Target Plaza 353,000 sq. ft. Siegen Village 174,378 sq. ft. TOTAL 1,227,378 sq. ft. By Dottie Tarleton, CCIM

Slide 34

The State of Wal-Mart $240 Billion in deals yearly 3 Million Associates Most regarded organization on Fortune 500 List Biggest manager in 21 States World\'s greatest food merchant, driving down costs a normal of 13% in the business sectors they enter. One of the contributing elements for low swelling "Regular Low Prices" By Dottie Tarleton, CCIM

Slide 35

The State of Wal-Mart (cont.) Two every day direct flights from LaGuardia Airport to Bentonville day by day. Zero direct flights to some other urban areas in Arkansas from LaGuardia Baton Rouge MSA-New Super-focuses to start development in 2003 Location Baker 186,000 Sq. Ft. Cortana 223,000 Sq. Ft. School Dr. 188,000 Sq. Ft. Prairieville 207,000 Sq. Ft. Add up to NEW SQ. FT. 2003 804,000 Sq. Ft. By Dottie Tarleton, CCIM

Slide 36

The State of Wal-Mart (cont.) Small Marts– Neighborhood Grocery Store By Dottie Tarleton, CCIM

Slide 37

The State of Wal-Mart (cont.) Newest Wal-Mart idea 40,000 sq. ft. supermarket with drive-through drug store. Gas pumps in a few areas where space grants. Scouting destinations in Baton Rouge now. By Dottie Tarleton, CCIM

Slide 38

The New Kid on the Block Life Style Centers Caters to the requirements and way of life of their clients. Are generally upscale ventures situated close wealthy neighborhoods. Size is normally 150,000 – 500,000 sq. ft. Focuses are typically outside and incorporate no less than 50,000 sq. ft. committed to national upscale chain claim to fame stores offering attire, home products, books and music. By Dottie Tarleton, CCIM

Slide 39

The New Kid on the Block Life Style Centers (cont.) Typical inhabitants may incorporate Ann Taylor, Banana Republic, Barnes and Noble, Bath and Body Works, Gap Concepts, Pottery Barn, Talbot\'s, William Sonoma, Chico\'s and a blend of nearby fruitful mother and pop administrators. Strength supermarkets, for example, Whole Foods may likewise be found in way of life focuses. By Dottie Tarleton, CCIM

Slide 40

Town Center at Cedar Lodge Proposed new advancement to be based on the Witter Tract at Corporate Blvd. also, Jefferson Hwy. By Dottie Tarleton, CCIM

Slide 41

Town Center at Cedar Lodge (cont.) 440,000 blended use advancement Office Retail Restaurants Zoning has been endorsed By Dottie Tarleton, CCIM

Slide 42

Sales Tax Collections East Baton Rouge Parish 1999-2000 Year to date 2003 Sales Tax (Jan.- Feb.) is up 4.7% By Dottie Tarleton, CCIM

Slide 43

Rents and Vacancies Overall rents are up and opportunity is down. General 2002 rents are up 18% more than 2001. General opportunity has fallen 4.74% more than 2001. Neighborhood focuses encountered an abatement in opening from 26.57% to 16.62%. Rents expanded from $10.43 psf to $11.99 psf. By Dottie Tarleton, CCIM

Slide 44

Rents and Vacancies (cont.) Community Centers encountered an expansion in opportunity from 16.63% to 18.37%. Rents expanded from $9.07 psf to $11.13 psf. Local focuses encountered a decline in opportunity from 6.79% to 1.56 % with an expansion in rent from $20.85 psf to $29.72 psf. *Market place a Siegen Lane was added to the review which added to the decrease in the opening rate. By Dottie Tarleton, CCIM

Slide 45

Rents by Shopping Center Type Community Overall By Dottie Tarleton, CCIM

Slide 46

Vacancies by Shopping Center Type Community Overall By Dottie Tarleton, CCIM

Slide 47

Total Retail Building Permits By Dottie Tarleton, CCIM

Slide 48

New Big Box Construction 2001 Petsmart Siegen 19,250 sq. ft. Wal-Mart Central 184,435 sq.ft. Kirschman\'s Furniture Siegen 55,000 sq. ft. Rack Room Shoes Siegen 8,000 sq. ft. TOTAL 266,685 sq. ft. By Dottie Tarleton, CCIM

Slide 49

New Box Construction 2002 Best Buy Bluebonnet 45,416 sq. ft. Material\'s N Things Bluebonnet 32,380 sq. ft. Books A Million Siegen 12,540 sq. ft. Taken a toll Plus Bluebonnet 18,349 sq. ft. David\'s Bridal Bluebonnet 9,867 sq. ft. Lifeway Christian Books Bluebonnet 10,000 sq. ft. Rave Movie Theatre O\' Neal Lane 73,292 sq. ft. TOTAL 201,844 Sq. Ft. By Dottie Tarleton, CCIM

Slide 50

Big Box Space Proposed and Under Construction Year To Date 2003 Ross Dress For Less Siegen 30,187 Sq. Ft. Petco Siegen 13,500 Sq. Ft. Center Book Store Burbank Dr. 26,124 Sq. Ft. Stoma\'s Furniture Addition Perkins Rd. 10,000 Sq. Ft. Walgreen\'s Perkins Rd. 14,490 Sq. Ft. Wal-Mart Cortana 223,000 Sq. Ft. Wal-Mart Baker 186,000 Sq. Ft. Wal-Mart College Dr. 188,000 Sq. Ft. Wal-Mart Prairieville 209,000 Sq. Ft. Academy Siegen 75,000 Sq. Ft. Bed, Bath and Beyond Cortana 20,000 Sq. Ft. Shoe Carnival Cortana 10,000 Sq. Ft. TOTAL 1,005,301 Sq. Ft. By Dottie Tarleton, CCIM

Slide 51

Small Strip Centers 2001-2002 Floorscapes Center Coursey at Cedarcrest 24,000 sq. ft. 2001 Coursey Plaza Coursey at American Way 18,000 sq. ft. 2001 Sherwood Square Sherwood at Florida 26,000 sq. ft. 2001 University View Burbank Dr. at LSU 20,000 sq. ft. 2001 Albertson\'s Plaza Airline at Highland 32,000 sq. ft. 2002 Central Plaza Wax at Sullivan 49,000 sq. ft. 2002 TOTAL 169,000 sq. ft. By Dottie Tarleton, CCIM

Slide 52

Proposed Strip Centers 2003 Pearson\'s 7949 Jefferson Hwy. 29,500 sq. ft. Marblegate Phase II George O\'Neal at Jones Creek 70,000 sq. ft. Wal-Mart Strip Wax Rd. 13,850 sq. ft. Coursey Plaza III Coursey at Sherwood 46,333 sq. ft. Southgate Retail Burbank 15,260 sq. ft. Good country Greens Highland at CCLA 15,444 sq. ft. TOTAL 190,387 sq. ft. By Dottie Tarleton, CCIM

Slide 53

Large Tract Land Sales By Dottie Tarleton, CCIM

Slide 54

Small Tract Land Sales TOP OF THE MARKET PRICES By Dottie Tarleton, CCIM

Slide 55

Conclusions Overall rental rates on existing space expanded crosswise over t

Recommended
View more...