Local Commercial Real Estate Advisor Helps Family-Run Franchisee Land in New Shopping Center
[ClickPress, Fri Sep 11 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 Smoothie King at Hope Valley Commons in Durham. Durham’s first Smoothie King opened on July 18 and is managed by family-run CLLESS Investments, consisting of Clarence, Shea, Erika, and Shawn Lewis. George Richards of Grubb & Ellis|Thomas Linderman Graham represented the landlord.
The Durham store is the second Smoothie King that Bull has brought to the Triangle area. Bull said that while exploring locations for his client, he felt that Hope Valley Commons presented the most visibility and access to Smoothie King customers. He mentioned that the Lewis family also has a personal tie to the Durham area.
“I worked closely with CLLESS Investments and Smoothie King corporate in order to determine a location to help increase the success of the Lewis’ new venture,” explains Bull. “When we decided on our location, it was interesting to find out that the Lewis family grew up in Durham and were very familiar with the area. Some of the family even attended nearby Jordan High School, which made it nice that this location was an ideal professional and personal fit.”
Smoothie King is a privately held New Orleans-area based franchise company and is the premier Smoothie Bar and Nutritional Lifestyle Center in the industry. Since 1989, Smoothie King has been named the No. 1 franchise in its category 17 times and currently has 550 locations operating in the continental U.S. and Seoul, Korea. Hope Valley Commons is a mixed-use strip center anchored by Harris Teeter. The center features approximately 100,000 square feet of office and retail space and will be built over two phases. The Smoothie King location at Hope Valley Commons is located at 1125 W. N.C. Highway. 54 and comprises 1,270 square feet.
Bull worked with CLLESS Investments and assisted them with market segmentation, site selection, and LOI negotiation. He also assisted with communications between CLLESS Investments and Smoothie King’s corporate office. Bull said that working with his client also presented him with a unique marketing experience.
“The Lewis' were interested in a franchise with Smoothie King; however, they really wanted to understand potential retail locations for their business before they signed up for a Smoothie King franchise,” explains Bull. “It was an interesting approach whereas we worked backwards, deciding on a franchise by selecting the location first rather than choosing a location for an existing franchisee. All of us involved with the project learned a great deal through this experience and so far, it seems to be working out well.”
Clarence Lewis, Operations Manager for CLLESS Investments d/b/a Smoothie King, considers Hope Valley Commons an ideal location for his new store and says that he was impressed with Bull’s thoroughness and detail throughout the entire site selection process.
“We knew that Shane’s job was to assist us in finding the most ideal store location based upon his experience,” says Lewis. “What impressed us was his level of professionalism. Our assurance was also boosted by the level of integrity and sincerity he portrayed. We’re truly grateful for Shane’s continued advice and excellent support.”
Smoothie King at Hope Valley Commons is open from 7 a.m. to 9 p.m. Monday through Friday, 9 a.m. to 9 p.m. on Saturday, and 11 a.m. to 7 p.m. on Sunday. For more information, visit www.smoothieking.com/stores/store.php/953 or call (919) 489-7300.
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 its investment subsidiaries, 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, mutual funds and other real estate investment funds. For more information, visit www.grubb-ellis.com.