News
Leasing agent: Lane Parke project in Mountain Brook ready to go
November 17, 2009
The leasing company for the proposed $200 million Lane Parke development in Mountain Brook Village said if rezoning for the project is approved next week, his team is ready to hit the ground running. Robert Jolly, head of Retail Specialists, Inc., said Tuesday the firm's leasing strategy to attract national luxury brands to the hotly debated project has taken a different direction to include one-to three-store boutiques and restaurants looking to expand and that won't compete with existing retailers. "If it's approved, we'll hit the ground running and start leasing," said Jolly at a gathering of the Birmingham chapter of Commercial Real Estate Women. "The idea has gained traction (from retailers in) New Orleans and Dallas."
Lane Parke hearings to target concerns
October 26, 2009
Decision time is near for Mountain Brook on the proposed Lane Parke at Mountain Brook Village development. The City Council has scheduled two public hearings, tonight and Nov. 9, to consider whether to grant planned unit zoning to the development. While some public comments about the development at a series of public hearings have been positive, other residents say they oppose the scope of the project. At the development's web site, www.laneparke.com, the owners of the property this month posted "Straight Answers," a series of video answers to 21 questions and written answers to 13 questions. "There's a perception out there, we think, that we've only been working on this for about six months," said Robert Jolly, a retail consultant with the project. "The truth is we've been working on this for more than two years."
Deerfoot shops get 2 new tenants
September 15, 2009
Munoz Mexican Restaurant and Cosmopoli-Tan have leased space at The Shoppes at Deerfoot in Trussville. The restaurant is leasing 4,200 square feet, while the tanning salon is in a 2,800 square foot space. Brooks Corr of Retail Specialists, Inc. represented the landlord in the deals.
Retail vacancies rise in Mountain Brook Village
September 15, 2009
Vacancies are rare in Mountain Brook Village and could point to a sign of the changing times in retail development outside the city, said Robert Jolly, whose Retail Specialists, Inc. lists property in the area and is handling retail leasing for the proposed $200 million Lane Parke development. "The real reason, in my opinion, a lot of these retailers are struggling is there's not a real anchor (tenant) in the village," he said. "The traffic count is the highest, but people are not stopping for anything. Other than Western (Supermarket), there's not a retailer over 10,000 square feet in Mountain Brook Village to create traffic from outside the city." Jolly said about 70 percent of retail dollars in Mountain Brook are spent outside the municipality and very few outside dollars are coming in.
Winn Dixie Covington, Louisiana Groundbreaking
August 04, 2009
Commercial real estate takes pounding: Birmingham brokers say some recovery signs are apparent
July 31, 2009
Signs of life are beginning to show in Birmingham's commercial real estate market, but local brokers say the future is still uncertain. Through the course of the recession, retail property has taken a beating from large and small retailers closing doors. But by mid year, vacancy rates apprear to be hovering in the high single digits in the Birmingham area, which isn't bad, said Bill Clements, a broker at Retail Specialists, Inc. That's because retailers in a position to lease space and move forward are doing so and taking advantage of a soft market, where landlord concessions abound, he said.
Developer: Homewood's Hallman Hill still on track
June 26, 2009
The 10,000-square-foot retail portion [of Hallman Hill], slated for completion in July, has about 70 percent "sincere interest," including two letters of intent from restaurants for the two main corners of the project, said Bill Clements, a broker with Retail Specialists, Inc.
Bruno's wants firm to sell properties
May 26, 2009
Birmingham's Bruno's Supermarkets LLC has asked a U.S. Bankruptcy Court judge to allow it to hire Retail Specialists, Inc. to sell remaining properties in its portfolio. Retail Specialists would be paid 5 percent of the sales price up to the first $1 million and 2.5 percent of the sales price over $1 million.
Firm Unveils Plans for $200 Million Mixed-use Project
May 12, 2009
Birmingham, Ala.-based Evson, a family-owned development firm, submitted plans Monday to the city of Mountain Brook for the $200 million Lane Parke of Mountain Brook Village mixed-use project. The 27-acre property will replace the 63,000-square-foot Mountain Brook Shopping Center and the 276-unit Park Lane Apartments currently housed on the Mountain Brook site. During the first phase of the project, tenants in the shopping center - including the anchor, Western Supermarkets-will be relocated to the new development. In addition to commitments from these tenants, officials would like to lease three junior anchor spaces of 10,000 square feet to 20,000 square feet before breaking ground. "We're very optimistic that the demand is there," says Robert Jolly of Retail Specialists, a Birmingham-based firm that will be leasing the project.
Mtn. Brook plan praised
May 05, 2009
A proposed Mountain Brook Village development drew compliments and support from all the residents who spoke at a meeting of the city's planning commission Monday. The development, called Lane Parke of Mountain Brook Village, would replace the existing Mountain Brook Shopping Center and Park Lane Apartments. (Retail Specialists, Inc. has been hired as the exclusing leasing consultant for the project.)
