Stephen Barth’s Post

Lansdale Revitalization: Mixed-Use Developments - Growing & Thriving Soleil Luna Hair Salon expands and moves to new location. Day One at their new location on Madison Street in the Lansdale Station Apartment complex. Challenges to Mixed-Use Developments: Lansdale Station is a 180 unit, upscale apartment complex in Lansdale’s downtown. Part of the project’s redevelopment included 7,500 sq/ft of mixed-use retail space. Property owners had the initial lease rates at 64% above the average lease rate in Lansdale’s downtown. There has been considerable interest in this prime location and we have toured scores of prospects through the site. However, as a result of the higher lease rates securing a tenant proved insurmountable. As a result the first floor commercial space sat vacant for more than five years, until now. Solution: The property owners reevaluated their lease rates, adjusted them to align with the community’s norms and have now begun to lease the spaces. #makeitmontco #chamberGMC #discoverlansdale #northpennnow #johnernst #soleillunahairsalon #barthconsultinggroup

🔔 Listing Update! 🔔 BKREA has been exclusively retained to arrange for the sale of 28-30 West 37th Street (“The Property”), a vacant commercial building spanning 10,281 SF. Located on the south side of West 37th Street between Fifth and Sixth Avenues in Midtown, one of the most coveted commercial hubs in Manhattan. The existing 2-story structure was built in 1996 and sits on a 4,758 SF lot and boasts approximately 50’ of frontage. The property currently comprises three identical ground-floor retail units and one contiguous space above them on the second floor. Each ground-floor retail unit also includes a mezzanine space. The ground floor boasts approximately 22-foot ceiling heights, while the second floor offers 10-foot ceiling heights. With the property currently vacant, a prospective user buyer could promptly occupy the premises and enjoy the benefits of ownership. Beyond its immediate user potential, 28-30 West 37th Street holds appeal for value-add investors who could refurbish the commercial spaces to attract tenants. Additionally, thanks to the advantageous M1-6 zoning, there's potential for a developer to demolish the existing structure and construct a new building, leveraging a 10 FAR for a total as-of-right ZFA of 47,580. Furthermore, with Mayor Eric Adams' proposed "Midtown South Mixed-Use Plan" rezoning, there's the possibility of future residential development. 28-30 West 37th Street is an amazing opportunity due to its favorable Midtown location. Local cultural amenities within walking distance to the property include the Empire State Building, Bryant Park, and the original Macy’s. 7 West 36th Street also benefits from direct access to a multitude of subway lines including the 1, 2, 3, A, C, E located at Penn Station, B, D, F, M, N, Q, R, W lines located at 34th Street Herald Square and the 4, 5, 6, 7, S located at Grand Central Station. ✉️ DM, email, call, or text us to learn more! Link below to the listing in the comments. ⬇️ #NYC #BKREA #commercialrealestate

Trost Abdou Building - A Unique Investment Opportunity Welcome to 115 N Mesa, a prestigious Trost historical building nestled in the heart of El Paso, TX. This iconic property offers a seamless blend of charm and modernity, making it a coveted investment opportunity. Currently fully leased, this gem boasts a dynamic mix of multifamily and retail spaces. Key Features:     •    Trost Architectural Legacy: Designed by the renowned Trost & Trost architectural firm, this building stands as a testament to El Paso’s rich history. The meticulously preserved exterior exudes timeless elegance, capturing the essence of a bygone era.     •    Prime Location: Situated on N Mesa, this property enjoys a central location in El Paso, ensuring high visibility and foot traffic. Its proximity to key amenities, entertainment venues, and business districts enhances its appeal for both residents and retailers.     •    Fully Leased: Investors will appreciate the stability and income potential of a fully leased property. The current mix of multifamily and retail tenants ensures a diversified revenue stream, mitigating risks and maximizing returns.     •    Multifamily Residences: The property features thoughtfully designed multifamily units that cater to modern living preferences. Tenants enjoy a harmonious blend of historic charm and contemporary conveniences, creating a unique and desirable living experience.     •    Retail Spaces: The retail component of the building presents an excellent opportunity for businesses to thrive in a vibrant and bustling community. With a diverse range of retail spaces, this property is poised to attract a variety of businesses, enhancing the overall appeal of the investment.     •    Proven Investment Potential: El Paso’s real estate market has shown resilience and growth, making this property a strategic addition to any investment portfolio. The combination of historic significance, full occupancy, and a prime location positions 115 N Mesa as a valuable asset with long-term potential. This is a rare chance to own a piece of El Paso’s history while enjoying the financial benefits of a fully leased, multifaceted property. Don’t miss out on this opportunity to invest in a Trost historical building that seamlessly marries the past with the present. Contact us today to schedule a private viewing and explore the potential of 115 N Mesa. For more information, contact: Jorge E. Nieves 915.790.9757 JNieves@REPcre.com #REPcre #whoREPresentsyoumatters #commercialrealestate #texasrealestate

🏘️ From Mall to Masterpiece: The Transformation of Collin Creek Mall 🏗️ What used to be Plano's iconic Collin Creek Mall is now turning into a stunning new community! A row of sleek blue townhomes has sprung up as part of Centurion American’s $1 billion redevelopment project. Homes are officially for sale with move-in ready units available this month! This master-planned community is bringing 500 single-family homes, 2,300 multi-family units, and 300K sq. ft. of retail and restaurant space to the area, marking a major milestone for Plano’s growth. While we don’t recommend investing in Plano due to higher price points, it’s projects like these that show the power of what investing anywhere in the DFW metroplex can become. 🏙️ LEARN MORE ABOUT THE MARKETS WE RECOMMEND: https://lnkd.in/gXg4_-NV READ MORE: https://lnkd.in/gu92AdJx #DFWRealEstate #PlanoTX #CollinCreek #MetroplexInvesting #SlaughterInvesting

One of the biggest and most high-profile redevelopment projects in downtown Vancouver has undoubtedly been 800-876 Granville Street, which would have retained the historic Commodore Ballroom and popular Commodore Lanes bowling alley and seen a new commercial building reaching 17 storeys built atop the historical block. However, the developer of the project, Bonnis Properties, is no longer moving forward with the project, reported Storeys. "Unfortunately, the office market has really changed and the office demand is no longer there," Kerry Bonnis, who owns and operates Bonnis Properties with his brother Dino Bonnis, told STOREYS. "In the meantime, hard costs have gone up substantially, as have interest rates, and it's not possible to build such a property in today's market on spec. One would need to have office tenants in hand to basically move forward with the project and unfortunately the market rates have dropped significantly. Without having office tenants ready to occupy it, right now it doesn't make sense to move forward with the project." "Bonnis also said that although the project in its current form isn't moving forward, they will continue to explore new forms of the project." https://lnkd.in/dkmSD24u #vancouver #office #development

Announced Projects I am looking forward to in #Tampa / #StPete: The Miami group behind Edge Collective, a mixed-use project in St. Petersburg’s Edge district, has paid $14.75 million for an assemblage of parcels for the development’s second phase! PTM Partners closed on several parcels in the 1100 block of Central Avenue on Jan. 31. The sellers were Tricera Capital and Eastman Equity. The first phase of Edge Collective includes the Moxy Hotel and the renovation of a historic #office and #commercial building. Phase two will include 350 #residential units via a 20-story tower and a seven-story building. The project will also include 20,000 square feet of #retail space and 350 #parking spaces. Construction on the Moxy Hotel is expected to be completed in the next five to six weeks. The hotel team will then need six to eight weeks to officially open the hotel. The group plans to begin #construction on phase two by the end of 2024 or early 2025. https://lnkd.in/gkCNMYJk Nicholas Pantuliano Michael Tillman Thomas Strand, CFA #multifamily #apartment #mixeduse #development #redevelopment #DTSP #stpeterealestate #tamparealestate #cre #realestate

Woodfield Development And Flagler Realty & Development Break Ground On Mixed-Use Development In West Palm Beach The eight-story residential building will also feature 19,000 square feet of retail space, of which 15,000 square feet already has an executed lease by an upscale urban grocer. Read more at https://lnkd.in/g5KWMw63 #westpalmbeachrealestate #westpalmbeach #palmbeachcountyrealestate #palmbeachcounty

Apartments about to rise as Southplace stores are built out Southland mall in Cutler Bay is on track to be replaced by Southplace City Center as the project is soon to deliver residential units, dining options and updated shopping options. Apartment construction is expected to start early in 2025 and stores are already building out space. Electra America, a real estate private equity firm, and BH Group, a Miami-based private real estate investment firm, purchased Southland mall in May 2022 and began the redevelopment process. https://lnkd.in/edaeQfCe #MiamiTodayNews #MiamiRealEstate #SouthPlaceCityCenter #Miami

Assets such as 972 Manhattan Avenue present the most compelling risk adjusted return opportunity within the marketplace. Going-in yields remain elevated given the rate environment, this moment in time presents the rare opportunity to acquire assets with robust current cash returns, and significant appreciation potential once cap rates ultimately compress.

https://lnkd.in/eV7VCKpG Many leases are being quietly negotiated and signed. The Plaza District and Park Ave. near Grand Central are filling up as companies see the need for speed to get the spot they want signed, sealed and delivered before it's too late. No kidding. Meanwhile it can take 5 years or more years to get a new building built and the tenant moved in. And if a tear down is required, such as at 350 Park, it may be nearly a decade. What's your timeline? How far out are your clients looking? Even the city's "newest" buildings in Times Square are already 30 years old!