Western Real Estate Business

OCT 2016

Western Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in the Western United States.

Issue link: https://westernrealestatebusiness.epubxp.com/i/732258

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Page 12 of 50

10 • October 2016 • Western Real Estate Business www.REBusinessOnline.com the demands of increasingly busy patrons. They cater to the everyday needs of the community. When you combine a major grocery retailer, ser- vice-related businesses and a variety of dining options all located within the same shopping plaza, investors see a great opportunity to achieve a strong return of investment. The Experience E-commerce purchases may be the most simplified and time-effective way to acquire what you need, but in this day and age retailers are build- ing aesthetically pleasing develop- ments and bringing in unique retail- ers to engage the customer 's social experience. A wide range of personal services like nail and beauty salons, health and fitness centers, restau- rants and cinemas are now infiltrat- ing shopping plazas. Grocery stores are not just grocery stores anymore, as developers are incorporating wine bars and coffee shops, sushi stations and juice bars that provide interac- tive experiences. Emerging restaurant concepts like Slim Chickens, Jack's Urban Eats, Tokyo Joe's, Burger Lounge, Café Yumm, Banzai Bowl, SunLife Organ- ics, Sweetfin and Salata's are several unique restaurants bringing unique flare, juicy bites and natural health foods to Arizona. These concepts are also molding the new restaurant spac- es for Arizona's shopping centers of today. The Arizona market is an open door of opportunity for investors. By bringing such original eateries and new trends to the Arizona Valley, con- sumers will be lining up at the door for the experience, proving the time is now to invest in the state. The Brokers — The Relationship The most important part of any com- mercial real estate project is the site data and bottom line. The investors want to make sure their sales invest- ments are viable and/or their lease rates are agreeable. Period. However, the next most important factor when dealing with commercial real estate is the relationships between the inves- tor, commercial broker, developers, economic leaders and the financial in- stitution. The investors must believe that the experts in the commercial real estate industry are trustworthy, knowledgeable and looking out for the client's best interest. Many successful projects involve city officials who take an aggressive role in assisting with the redevelop- ment process and the development of new initiatives. For investors, such as the duo at Greenway Marketplace, finding just the right market can be the biggest challenge. These investors needed to find a financial partner that could help them put the deal together, and they did so right here in Arizona with Ho- rizon Community Bank. The Future E-commerce will continue to trans- form the landscape for trending retail- ers with real social experiences, ver- sus shopping online as a convenient option. Consumers will continue to shop and explore multi-tenant shop- ping plazas that create interactive and energetic atmospheres. The new me- tropolis will explode economically by building and creating work/live/play environments in urban settings. With all that in mind, the economic growth in the valley's commercial real estate market will spur interest in capital in- vestments. More and more investors will realize they should have domestic and international portfolios that cre- ate viable opportunities within popu- lated demographics. We also anticipate Millennials will continue to move into trendy, urban areas as they seek enhanced access to jobs and amenities — from shopping to entertainment to healthcare. The mixed-use developments will be sur- rounded by residential communities and entertainment all within walking distance or a short drive away. Retail- ers will be ramping up for the holiday season and new grocery centers will be thriving. With more than 68 million people living in Arizona, both local and out-of-state retailers are consider- ing expansion in Arizona because the demand for trendy lifestyle and enter- tainment developments is right now. Rommie Mojahed and Mary Nollenberger, Directors of Leasing, SVN | Desert Commercial Advisors Seattle's Newest Place to Shop, Dine, Play, Live and Relax. In the fast-growing area southeast of Seattle, a new open-air upscale lifestyle center is taking shape. Planned by Oakpointe, one of the Pacific Northwest's premier land and commercial real estate development companies, Shops at LakePointe will feature national bellweather brands and one-of-a-kind local retailers, great restaurants, hospitality and entertainment, professional services and residences – all centered around a man-made lake. Optimally located just off Highway 18 in Covington, Washington, Shops at LakePointe is being designed for over 1.4 million SF of restaurants, entertainment, fashion retail, office and hospitality, serving a robust market with a 20-minute drive time retail gap of over $5 billion annually. Shops at LakePointe is now leasing. Take advantage of this rare opportunity to showcase your business at Seattle's newest upscale shopping destination. Shops at LakePointe DAVID FARMER dave@almayesproperties.com (425) 242-0249 ALAN MAYES al@almayesproperties.com (206) 605-2690 RYAN WATSON ryan@almayesproperties.com (206) 799-3031 almayesproperties.com/shops-at-lakepointe Conceptual rendering

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