UK: LCP announces new tenants to open branches at Scott Arms, Great Barr

London, 2017-Jul-04 — /EPR Retail News/ — Two nationally known names are to open branches at a busy Birmingham shopping parade – with a third well-known high street retailer also poised to sign up, leading investment and property management company LCP has announced.

Dignity, one of the largest providers of funeral services in the country, and a nationwide takeaway and delivery chain have both signed tenancy agreements at Scott Arms, Great Barr, which is managed by LCP. A third high street name, which is not yet being named, is also under offer.

Jo Salmon, retail portfolio manager at LCP, said the deals gathered pace after it decided to introduce free parking for 90 minutes at Scott Arms in January.

LCP has also spent £100,000 carrying out a reconfiguration of the existing space to attract the new retailers to the scheme.

Dignity has signed a 10-year lease for a 1,400 sq ft unit, while the takeaway and delivery chain has agreed a 20-year lease for a 2,066 sq ft unit, which will also have seating for customers.

“We are very pleased to have signed up these two new tenants to Scott Arms,” said Jo. “The shopping parade is very popular among locals and it also attracts a great deal of passing trade, so the fact that we introduced the free, limited-time parking has had a positive impact, with a marked increase in footfall. It’s this that has helped us to attract these nationally known names.”

Just one unit remains vacant at the busy shopping parade, which about half a mile from junction 7 M6, although LCP hopes to announce a new occupier within weeks.

National commercial property consultancy Lambert Smith Hampton (LSH) acted as agents for LCP, attracting the new tenants to Great Barr.

Richard Jones, director of retail agency at LSH Birmingham, said: “We used our expertise to find the right tenants for the mix and are very pleased to have worked closely with the businesses and LCP to ensure the successful closure of these deals.

“With more than 30,000 passing vehicles each day there are potentially 11 million customers every year, making it a very attractive prospect for retailers.”

Ciaran Nolan, head of property at Dignity, said: “We are delighted to be opening a satellite branch in the Scott Arms Shopping Centre. We are committed to providing a high quality of service for our existing clients as well as increasing the level of choice for bereaved families that live in this area of the city.”

The shopping centre is prominently situated at the crossroads of the A34 Birmingham/Walsall Road, which connects Birmingham with Walsall, and the A4041 connecting West Bromwich and Sutton Coldfield. Junction 7 of the M6 is just over half a mile north of the Scott Arms.

LCP is planning further improvements at Scott Arms, including a car park extension, upgraded landscaping and common parts, plus new signage. Other occupiers include Iceland, Greggs, Well Pharmacy and Ladbrokes.

Contact:

kyates@lcpproperties.co.uk

Source: LCP

Kimco announces Starbucks, Dynamic Dental Care LLC and Salons by JC as new tenants at its Wilde Lake center in Columbia, Maryland

LEED-certified redevelopment sparks new community interest and investment

NEW HYDE PARK, N.Y., 2017-Jan-27 — /EPR Retail News/ — Kimco Realty Corp. (NYSE:KIM) announced today (1/26/2017) that it has signed three new leases, including Starbucks, at its Wilde Lake center in Columbia, Maryland, on the heels of a dramatic $18.1 million redevelopment which transformed the project into a mixed-use destination with 230 residential rental units, 30,000 square feet of office space, 41,000 square feet of retail, and 20,000 square feet of restaurants.

Starbucks is opening both a café and a drive thru in fall 2017. In addition to Starbucks, Kimco has signed leases with Dynamic Dental Care LLC, which opened December 2016; and Salons by JC, scheduled to open in early fall 2017 above David’s Natural Market.

“Kimco’s redevelopment has inspired a flurry of activity by existing tenants, enhancements to the Village’s swim center and water park amenity, construction of a new net-zero energy middle school, an expanding interfaith center, and new pedestrian and cycling pathways,” stated Kevin McAliley, Wilde Lake Village Board Chair. “Active home owners associations, involved neighborhood representatives and local leaders have noticed the new Wilde Lake center has created a movement toward improvements, renovations and investment throughout our village. We welcome Starbucks, Salons by JC, Dynamic Dental Care and the many new tenants and residents joining our vibrant and growing community.”

Wilde Lake Village Center is located in Columbia, Maryland, conveniently situated between Washington, D.C. and Baltimore on 7.4 acres. The redevelopment encompassed freshly-paved walking paths, outdoor seating areas, and community space. New landscaping throughout the center enhanced the existing vegetation, along with stamped concrete walkways and crosswalks, and impervious paver parking spaces. Wilde Lake is a LEED-certified project. As part of the redevelopment, existing grocer David’s Market expanded into a new, larger, and LEED-certified facility, featuring a contemporary interior floor plan with an interior/exterior café.

“These three tenants are a wonderful addition to the area,” said Tom Simmons, President, Mid-Atlantic Region at Kimco. “They are a direct result of our redevelopment of the shopping center to better reflect the current demographics of the area and improve the shopping experience. Starbucks was especially attracted by the residential component of the center, as it ensures a steady stream of foot traffic to their location. Whether it’s a resident of Wilde Lake Village Center or a visiting customer, we have a range of high-quality services, retailers, and dining options for everyone.”

About Kimco

Kimco Realty Corp. (NYSE: KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is North America’s largest publicly traded owner and operator of open-air shopping centers. As of September 30, 2016, the company owned interests in 534 U.S. shopping centers comprising 86 million square feet of leasable space across 35 states and Puerto Rico. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center acquisitions, development and management for more than 50 years. For further information, please visit www.kimcorealty.com, the company’s blog at blog.kimcorealty.com, or follow Kimco on Twitter at www.twitter.com/kimcorealty.

Contact:
Jennifer Maisch
Director, Corporate Communications
516-869-7224
jmaisch@kimcorealty.com

Source: Kimco Realty Corp.