North Carolina Retailer Leases Space at Garrett Crossing Shopping Center
[ClickPress, Thu Aug 06 2009] Grubb & Ellis|Thomas Linderman Graham, a leading Triangle real estate services firm, announced today that Shane Bull, real estate advisor, recently assisted in brokering space for RadioShack at Garrett Crossing Shopping Center in Mebane. The store, which relocated from Haw River, opened on July 16 and is managed by Tammy Richardson. John Shirley of Dominion Real Estate Services represented the landlord.
Operating from convenient neighborhood and mall locations, RadioShack has approximately 4,400 company-operated stores, 1,400 dealer outlets, and nearly 700 wireless phone kiosks throughout the United States. Bull, along with Amy Watkins, vice president, worked with Bill Snyder, RadioShack’s director of leasing, in securing the location at 1338 Mebane Oaks Road. Snyder picked up RadioShack’s North Carolina market in 2008 and has been pleased with his relationship with Bull.
“Shane has gone out of his way to make sure I have everything I need to make sound business decisions for my company,” says Snyder. “His attention to detail has made learning the market easier, and his follow-up has helped RadioShack focus on our priorities. Shane has proven that he sincerely wants to provide us with quality locations and service. I look forward to a long relationship with him and Grubb & Ellis|Thomas Linderman Graham.”
Bull says that he and his team are able to improve RadioShack's store performance by being the company’s “eyes and ears” in the North Carolina market. He explained that when RadioShack wanted to improve their customer accessibility, the Garrett Crossing Shopping Center created the ideal business opportunity.
“RadioShack always tries to make sure they are easily accessible for their customers,” says Bull. “Mebane is a short distance from Haw River, and the Garrett Crossing Shopping Center provided more retail synergy and traffic. At 2,800 square feet, this location is one of RadioShack’s larger stores and gives them a premier spot in the center with a corner location. Bill was very pleased with our overall solution and we’re confident that his store will benefit from this move.”
Garrett Crossing Shopping Center opened in April 2006 and is located at U.S. Highway 119 and I-40/85. It comprises approximately 220,000 square feet and is anchored by Walmart Supercenter. Other shops include Dollar Tree, Rent-A-Center, Great Clips, Shoe Show and CATO. Bull said that when dealing with any shopping center, one of the challenges in securing spaces for his clients is often working through the “exclusives”.
“Many of the leases include ‘exclusives’, which limit the number of other businesses able to open in the center. For example, game sellers and cell phone companies often have an exclusive which could limit RadioShack to open,” explains Bull. “It then becomes my job to work with developers to unearth any existing commitments before pursuing a potential location for a client. This was the case with Garrett Crossing Shopping Center and RadioShack. Fortunately, we were able to work through these issues, and the transaction went smoothly.”
Bull and Watkins conducted extensive property research and location analysis for RadioShack in order to meet their requirements. They also provided thorough market segmentation and demographic reports analyzing customer reach and target audience base, provided a windshield tour of the area, and assisted in Letter of Intent negotiations.
RadioShack at Garrett Crossing Shopping Center in Mebane is open from 9 a.m. to 9 p.m. Monday to Saturday and 11 a.m. to 7 p.m. on Sunday. For more information, call (919) 563-0854 or visit www.radioshack.com.
About Shane Bull
With 15 years of business experience, Bulls works closely with commercial tenants to find the best fit, best lease, best space, and best performing locations available. Shane currently serves on the Board of Directors for Triangle Commercial Association of Realtors (TCAR) and on committees for Downtown Raleigh Alliance, Greater Raleigh Chamber of Commerce, NC Restaurant and Lodging Association (NCRLA), and Urban Land Institute (ULI). He is also a member of International Council of Shopping Centers (ICSC) and National Association of REALTORS. His clients include Radio Shack, Smoothie King, and Aladdin’s Eatery Systems. Shane works with Grubb & Ellis|Thomas Linderman Graham in handling general brokerage relationships for retail, office, and investment properties. For more information, visit www.shanebull.com.
About Grubb & Ellis|Thomas Linderman Graham:
Grubb & Ellis|Thomas Linderman Graham is a full-service commercial real estate company with offices in Raleigh, Chapel Hill and Durham, North Carolina. As locally owned and operated affiliate of Grubb & Ellis, the Company specializes in serving the Triangle region and areas east to the North Carolina Coast, providing market presence and exclusive coverage for Grubb & Ellis in these markets. For more information, visit www.tlgcre.com.
About Grubb & Ellis:
Named to The Global Outsourcing 100™ in 2009 by the International Association of Outsourcing Professionals™, Grubb & Ellis Company (NYSE: GBE) is one of the largest and most respected commercial real estate services and investment companies in the world. Our 6,000 professionals in more than 130 company-owned and affiliate offices draw from a unique platform of real estate services, practice groups and investment products to deliver comprehensive, integrated solutions to real estate owners, tenants and investors. The firm’s transaction, management, consulting and investment services are supported by highly regarded proprietary market research and extensive local expertise. Through Grubb & Ellis Realty Investors, the company is a leading sponsor of real estate investment programs that provide individuals and institutions the opportunity to invest in a broad range of real estate investment vehicles, including public non-traded real estate investment trusts (REITs), tenant-in-common (TIC) investments suitable for tax-deferred 1031 exchanges and other real estate investment funds. For more information, visit www.grubb-ellis.com.