The Retail Division of HSA Commercial Real Estate consists of the Retail Brokerage Group and the Retail Development Group. The Retail Development Group has been responsible for the planning, developing and leasing more than four million square feet of retail space and has been one of the most active retail forces in the Midwest.
Professionals in the Retail Brokerage Group represent both owners looking to sell or lease their properties, as well as tenants looking to purchase or lease space on a national basis.
HSA’s Retail Development Group has a unique ability for redevelopment projects. We know how to capitalize on the challenges presented when developing properties previously used for other purposes but have become physically undesirable for the areas in which they are located. In recent years, the Retail Development Division has specialized in transforming outdated, underserved retail centers and industrial properties into vibrant, marketable centers.
The Retail Division is led by Tim Blum, who transformed Orland Park Place, in Orland Park, Ill., by “de-malling” the former enclosed shopping center and creating a dynamic, multi-level promotional merchandising mix that has made Orland Park Place one of the strongest power centers in metro Chicago. Current tenants of Orland Park Place include Nordstrom Rack; Dick’s Sporting Goods; Bed, Bath, and Beyond; DSW; and Old Navy.
The Retail Development Group recently transformed a functionally-obsolete industrial park in suburban Milwaukee into The District, a 69-acre retail, restaurant, and residential community. The project’s first phase, The Mayfair Collection shopping center, is anchored by Nordstrom Rack, Saks Fifth Avenue OFF 5TH, and Dick’s Sporting Goods. The second phase of The Mayfair Collection include a Whole Foods Market, HomeGoods, and several exciting new restaurant concepts. Future plans for the project include the addition of over 1,000 luxury apartments to be built over the next five to seven years.
The Retail Development Group also has begun construction on an ambitious redevelopment of Plaza 173 in Brookfield, Wis. The predominantly vacant center was purchased in consultation with HSA’s institutional investment partner, Innovative Capital Advsiors, and HSA created a redevelopment strategy that attracted Fresh Thyme Farmers Market as an anchor. The shopping center, which has now been re-branded as Calhoun Crossing, will experience a new life-cycle when it officially re-opens to shoppers in spring 2017.
The Retail Division’s services and expertise include:
- Expansion or entry into markets
- Urban development and redevelopment
- Consultation on retail planning
- Tenant representation
- Multi-anchor power centers
- Neighborhood shopping centers
- Strip shopping centers
- Mixed-use developments
- Evaluation of villages’ and cities’ retail needs
The Retail Division’s clients include:
- Darden Restaurants
- Olive Garden
- LongHorn Steakhouse
- Season’s 52
- Village of Orland Park
- U.S. Bank
To learn more contact Tim Blum, Executive Vice President, Managing Director of HSA Commercial Real Estate’s Retail Division at (312) 683-7256 or firstname.lastname@example.org