Financial Solutions Advisory Group, Inc.’s Post

It won’t be long before a select few Costco Wholesale fans in Los Angeles will be able to live just a few flights above their favorite retailer. Thrive Living, a California-based developer, is converting a vacant lot in the Baldwin Village neighborhood of the city into an amenity-rich apartment building, complete with 800 rentable units, a rooftop pool, gym, and basketball court. The most appealing amenity, however, might just be the Costco warehouse that is slated to take up the ground floor, complete with a pharmacy and optical services. That alone makes the mixed-use building—a term used to describe a real estate project that blends residential and commercial spaces—unique. It is the first time Costco is leasing a space in a residential development like this one. Long-term, however, the biggest upside may be for Costco—and its shareholders. The retailer’s move could set a new precedent for its urban expansion strategies, giving Costco more flexibility to tap into densely populated areas and position itself closer to where shoppers live. https://lnkd.in/gN4quMAf

Really interesting to see the launch of this new, hard discount grocery format in Canada. Question is - what is stopping this type of innovation in New Zealand?

JUST LISTED - Panera Bread 4-Tenant Strip | Mansfield (Ontario), OH We are excited to be brining to market a 4-tenant strip center located in Mansfield (Ontario, OH). This site benefits from strong retail synergy, local positioning, and high traffic counts. About one month ago I toured the site and was not only surprised by how much retail development is going on in the nearby trade area, but also by the number of cars and consumers in the nearby parking lots. There is a lot to be excited about in the Mansfield (Ontario) market; providing below some brief investment highlights as a sneak peek. - List price of $2,601,487 yielding a 7.50% Cap Rate - Main Retail Corridor: Strong retail synergy with numerous national brand tenants including but not limited to Menards, Meijer, Target, Best Buy, Starbucks, IHOP, Sunbelt Rentals, Sam’s Club, Lowe’s, ALDI, Applebee’s, Taco Bell, AT&T, Panda Express, Five Guys, Mattress Firm, Outback, & more. - Long Term Occupancy: Panera Bread has been at this location since 2006 and recently installed a drive-thru to be up to the tenants current real estate plans and development standards. The tenant signed a brand new, 10 year extension in 2020 showing their long-term commitment to the location. - Extensive Retail Development in Trade Area: National tenant’s are developing in the local trade area given low vacancy within the Ontario retail hub. Recently completed and current developments include but are not limited to Caliber Collision, Culver’s, Ferguson, Holiday Inn Express, & more. Healthy WALT: The property’s Weighted Average Lease Term (WALT) exceeds 5 years. Reach out to me directly with any questions or interest - edward.desimone@matthews.com

Test and learn! Will be really interesting to see how this pilot by Loblaw Companies Limited plays out but the concept is based on a clear insight around the shopper's current quest for value, as many shoppers look to get the most out of tight household disposable budgets. The question will be how much are shoppers prepared to give up on and if enough of them are prepared to do it. Thanks for sharing Per Bank and best of luck with this pilot. I look forward to following your outcomes.

When Foxtrot closed doors earlier this year, what was not predicted was the frenzy of #RetailRealEstate operators pouncing on the opportunity to capture some prime #Retail frontage. In today's market, retail vacancy is sitting at a historic low, which is sub-5 percent, nationwide. So when there is any inkling of prime #RealEstate coming available, there is a "line out the door" to snag a piece of it, especially those spaces which are in dense neighborhoods which lend themselves towards retail operators like restaurants, entertainment venues and all types of retail concepts. The current market favors #Landlords and established operators, as landlords have a sea of potential tenants to choose from and established operators are able to provide the corporate guarantees, high rental rates and long-term leases which landlords are always seeking of a potential tenant.

Would you live in housing developed by Costco Wholesale? This is quite a concept & one I think many will be watching to see if it can be successfully replicated - some highlights: - A TOD mixed-use project with 800 small units above a big-box store with 184 set aside for low-income tenants (decent %) - modular construction, which uses prefabricated units built off site, should reduce building costs - Costco’s ties to the residential development aren’t much more than a shared building and underground parking garage, but the retail chain needs the housing in order to get permits to open at this location (this aspect is interesting!) - some South Central community leaders have expressed concern that, despite the need for family- and senior-friendly housing, the majority of these units will likely go to young singles. (bcuz of the small 350-605 sq/ft floor plans)

Are you planning a Costco Wholesale run this weekend? What if all you had to do was walk downstairs? The new "Costco prison" will feature 800 apts (350sf studio, 452sf 1br, 605sf 2br). 23% Designated low income housing, and ALL units Section 8 eligible. So clearly barely enough room in your unit to store 1 run of water, TP, paper towels, BUT you can have a hot dog for lunch everyday, and a fresh chicken for dinner all on the cheap! “Living inside it won’t be like living in a prison, obviously. But it is a bunch of small units along these long hallways, with a massive recreation center as an amenity space. From a plan view, it looks like an old school prison design.” Gotta tip your hat to the innovation and brilliance of Costco's plan - it's their next evolution. They are going in two directions to expand: 1. Even larger locations where there is land, with massive parking lots, EV stations galore, and 32 stations for the gasoline pumpers. 2. Mixed use urban, and access to a whole new consumer they have not been profiting from. What do you think? A. Bold and Brilliant, B. Risky C. Costco is making "Idiocracy" real, D. All of the above Mark Norton Dave Severance Geoff Miller Bruce F. Taub Kyle McCreight Tamara Romeo Jason Oppenheim, Esq. Irving Kau William Chiem Shaun Benesch Miles Hu Kip Downer Stonington Cox Charles J. Cooper Johnny Cram

🏬Costco Wholesale has announced the launch of their own affordable housing units, as they transform the retail experience and help to address the housing crisis. An approved upcoming Costco location in South Los Angeles will combine the company’s more-is-more brand with a novel new approach to residential construction. The project, to be built by developer Thrive Living and architects AO, will encompass not only the Costco store (and necessary parking) but a whopping 800 residential units, including 184 set aside specifically for low-income tenants. The "state-of-the-art" development will rethink how retail and residential real estate can complement each other, providing housing that is in high demand, and more tailored shopping experiences for residents and those commuting to the retail component of the development. Read more about the new venture for Costco, and how they plan to transform their retail and wider offering with it, via the article linked below. 👇 https://lnkd.in/dg4EdGpC #RealEstate #Affordable #HousingCrisis #PropTech ---- 💡 Follow PropTech Connect for daily Real Estate and PropTech news and insights.

🌞 Florida's Retail Real Estate Market Heats Up! 🌞 Florida's retail leasing and investor markets are scorching hot, driven by low vacancy rates and strong investor interest. With no significant new construction due to high costs and lending challenges, developers are turning to acquisitions to capture market opportunities. Here are some highlights: Dundas Real Estate Investments acquired Lee Vista Promenade in Orlando. EDENS expanded its Florida portfolio with the purchase of Shadowood Square in Boca Raton. Publix Super Markets bought Coral Springs' Ramblewood Square, enhancing its anchored position. Big developments are on the horizon: Orlando's Walt Disney World may see a new $17 billion park. Orlando Magic plans the Westcourt mixed-use hub. Creative Village is transforming downtown Orlando into an educational and business hub. Exciting expansions from major brands: ALDI USA is converting Winn-Dixie locations across Florida. Buc-ee's, Ltd. will open a massive 74,000 sq ft store in Ocala. Raising Cane's Chicken Fingers continues its growth in the Tampa Bay area. Florida's entertainment and dining scene is also buzzing with new restaurants and flagship openings from Maman, Ômo by Jônt, and others in Miami and Orlando. For a full dive into these developments and more, check out the detailed report here. #RetailRealEstate #FloridaMarket #ICSC

#Living on top of a supermarket | #midrise #TOD example in urban settings A controversial proposal from Costco Wholesale in #LA put in the spotlight an interesting mix-use building consisting in a grocery store at ground level with residential use above and communal amenities in close proximity to public transit. The compact design of residential layouts and proposed #unitmix are the subject to community concerns. However, the much needed situation of #affordablehousing for #lowincome residents are part of the city goals in pushing this application moving forward on time. Despite of the differences in public opinions about the size and mix of housing and your preference of grocery shopping, the project will deliver a sized amount of housing units including one quarter for rental, and creates employment opportunity in the same location. A #TOD model of this kind shows a smart strategy to plan and design opportunity for #living and #work close to transit in urban areas faster. How successfuly a community living above supermarkets can be planned? Time will be the only judge. #TOD #communityliving #affordablehousing #walkablecities #planing #urbandesign