2010 Baton Rouge Retail Market Overvie€¦ · 2010 Baton Rouge Retail Market Overview Presented...

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Transcript of 2010 Baton Rouge Retail Market Overvie€¦ · 2010 Baton Rouge Retail Market Overview Presented...

20

10

Ba

ton

Ro

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Pre

sen

ted

by:

Pre

sen

ted

by:

Jon

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MB

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National R

eta

il T

rends

•R

eta

il S

ale

s

•M

arc

h r

eta

il-ch

ain

sa

les ju

mp

ed

9%

•A

nch

or

Sp

ace

be

ing

Fill

ed

•S

om

e larg

e v

acancie

s b

ein

g r

e-t

enante

d b

y B

ig L

ots

, G

oodw

ill,

Ashle

y F

urn

iture

, T

racto

r S

upply

, etc

•Jo

bs S

low

ly R

eb

ou

nd

ing

•S

hoppin

g C

ente

rs m

ake u

p 9

.4%

of

U.S

. W

ork

forc

e

•F

ina

ncin

g T

rou

ble

s

•$1.2

Trilli

on m

atu

ring in t

he n

ext

thre

e y

ears

Local R

eta

il T

rends

•R

ed

eve

lop

me

nt

ha

s r

ep

lace

d N

ew

De

ve

lop

me

nt

•D

isco

un

ters

Exp

an

din

g in

to 2

nd

ge

ne

ratio

n s

pa

ce

•L

ocation is a

s im

port

ant

as e

ver

•T

en

an

t’s m

ark

et

•R

esta

ura

nts

Shuff

ling

Local R

eta

ilers

Clo

sin

g

•R

esta

ura

nts

•M

acaro

ni G

rill,

Fis

h C

ity, B

ennig

an’s

, T

imes

Grill,

Ca

len

da

rs, C

ha

mp

s G

rill,

Prim

o’s

•C

ircu

it C

ity

•L

ine

ns a

nd

Th

ing

s

•B

lockb

uste

r

Nota

ble

Are

a V

acancie

s

•Esp

lan

ad

e M

all

–3

5,0

00

sq

/ft

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ity –

28,0

00 s

q/f

t

•Com

p U

SA

–26,5

00 s

q/ft

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ing

sto

n S

qu

are

–60

,00

0 s

q/f

t

•La

ke

Sh

erw

oo

d M

all

–3

7,0

00

sq

/ft

•Gate

way 1

2 –

52,0

00 s

q/f

t

Are

a R

eta

ilers

Expandin

g

•R

esta

ura

nts

•R

ock n

Sake, K

oto

, C

oyote

Blu

es, Lucy’s

, Jim

my J

ohn’s

, P

ancho’s

, Little C

aesars

, F

ive

Guys, C

ane’s

•F

urn

itu

re R

eta

ilers

•C

VS

–LS

U, Z

ach

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, C

en

tra

l, F

lorid

a B

lvd

•D

isco

un

ters

–S

am

’s,

It’s

Fa

sh

ion

•G

rocery

•T

ota

l A

rea S

urv

eyed:

7,5

27,6

58 s

q/f

t

•N

um

ber

of

Cente

rs:

109 C

ente

rs

•T

ren

ds –

Exclu

din

g L

ife

sty

le C

en

ters

–A

vera

ge r

ent

and r

eim

burs

em

ents

tota

l $15.3

6 P

SF

,

-$.3

0 P

SF

incre

ase f

rom

last

year

–O

vera

ll vacancy r

ate

12.5

5%

, up .

50%

fro

m 2

009

surv

ey.

–56%

of cente

rs r

eport

less than 1

0%

vacancy, up fro

m

48%

in

2009

–C

ente

rs w

ith 2

50,0

00+

SF

co

ntin

ue

to

yie

ld h

igh

er

avera

ge r

ents

and less v

acancy (

2%

)

2010 S

hoppin

g C

ente

r S

urv

ey

New

Develo

pm

ents

Redevelo

pm

ents

•Colle

ge R

ow

at

Nort

hgate

•Ham

mond A

ire

•Acadia

n P

erk

ins P

laza

•Acadia

n V

illage

•Perk

ins H

ard

ware

•Ma

ll a

t C

ort

an

a

•Bro

adm

oor

Shoppin

g C

ente

r

•Flo

rida a

t A

rdenw

ood

•Capital H

eig

hts

•Win

n-D

ixie

–D

enham

Springs

Centr

al

Colle

ge R

ow

at N

ort

hgate

Ham

mond A

ire

Acadia

n P

erk

ins P

laza

Acadia

n V

illage

Perk

ins R

oad H

ard

ware

Cort

ana M

all

Bro

adm

oor

Vill

age

Flo

rida a

t A

rdenw

ood

Capital H

eig

hts

Win

n-D

ixie

–D

enham

Springs

Lifesty

le C

ente

rs

Tow

ne C

ente

r

Perk

ins R

ow

e

Develo

pm

ents

on H

old

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Pro

posed D

evelo

pm

ents

•Ro

uza

n

•Bu

rba

nk a

nd

Le

e

•O-N

ea

l a

nd

I-1

2

•Ju

ba

n C

rossin

g

•Riv

er

Dis

tric

t

•Wa

l-M

art

at

Bu

rba

nk a

nd

Blu

eb

on

ne

t

•Pin

na

cle

Ca

sin

o

•Long F

arm

What’s in s

tore

for

Bato

n R

ouge R

eta

il

•Co

ntin

ue

d R

ed

eve

lop

me

nt

•Ne

w A

rea

s o

f D

eve

lop

me

nt

•Do

wn

tow

n

•Wo

me

n’s

Ho

sp

ita

l

•Old

Ad

vo

ca

te S

ite

•Te

na

nts

will

co

ntin

ue

to

re

loca

te,

exp

an

d,

ren

eg

otia

te

•Lo

an

s c

om

ing

du

e –

op

po

rtu

nitie

s?

•Lo

ose

r F

ina

ncin

g

•Fa

nn

ie M

ae

fo

r re

tail?

Jonath

an D

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er,

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