The Retail Brokerage Division consists of the Retail Brokerage Group and the Retail Development Group. The Retail Division has worked closely with the Development Division in 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 In recent years, the Retail Development Division has specialized in transforming outdated, underserved retail centers by developing them into vibrant, marketable centers.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 center by making it user-friendly to customers and functionally workable for retailers. National retailers were immediately attracted to the new center and national tenants such as Barnes and Noble and Wickes Furniture signed on as tenants.
The Retail Division’s services and expertise include:
Expansion or entry into markets
Relocation
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:
PNC Bank
SuperValu
University of Chicago
Darden Restaurants
Olive Garden
Red Lobster
Season's 52
TGI Friday’s
Potbelly Sandwich Works
Accelerated Rehabilitation Centers
The UPS Store
To learn more contact Tim Blum, Executive Vice President, Managing Director of HSA Commercial Real Estate's Retail Division at (312) 683-7256 or tblum@hsacommercial.com
Timothy C. Blum Executive Vice President and Managing Director of HSA Commercial Real Estate’s Retail Brokerage Division
Experience
Mr. Blum has directly supervised the execution of over 3 million square feet of commercial development totaling in excess of $500 million in total value.
Mr. Blum’s diverse retail development experience includes large format promotional centers, multi-level urban mixed-use projects, adaptive reuse of existing retail facilities, and traditional suburban shopping center formats. One high profile example of his work is Orland Park Place in Orland Park, Illinois - A former enclosed mall that was transformed into an award winning retail center. This obsolete enclosed mall was dissected to take advantage of the site topography in a way that allowed for a multi-level merchandising plan, hence maximizing the value of the shopping center. National tenants at Orland Park Place include Old Navy, Bed Bath and Beyond, Kohl’s, Sports Authority, Marshall’s, Nordstrom Rack, Gateway Computers, DSW, Barnes and Noble and others.
Mr. Blum has recently completed the development of mixed-use projects in downtown Royal Oak, Michigan, a suburb of Detroit, as well as a redevelopment project in downtown Elmhurst, Illinois.
Currently, Mr. Blum is directing the development of a large-scale mixed-use project in suburban Milwaukee which will total over 1.5 million square feet of retail, office, residential, and hotel space.
Before joining HSA, Mr. Blum held positions as an acquisitions and asset specialist as well as retail broker for Brauvin Realty and VMS Realty in Chicago.
Affiliations
Mr. Blum is a member of the International Council of Shopping Centers.
Education
Loyola University, BBA, Finance and Computer Science
Michael Havdala
Senior Vice President in the Retail Brokerage Division of HSA Commercial Real Estate.
Experience Mr. Havdala has represented the following national retail tenants in multiple transactions: National City Bank, TGI Friday’s, Darden (LongHorn and Seasons 52), Golden Corral, Yum Brands, SuperValu, UPS Store, Cellular One, GNC, Public Storage/Four Seasons Self Storage, Eddie Bauer, LA Boxing, Accelerated Rehabilitation Centers, Prime-Co and Family Dollar.
Mr. Havdala has also represented the following developers/ owners in multiple transactions: SuperValu, IBT Group, Sedes Corp. Location Finders International, Four Seasons Self Storage, National Shopping Plazas and TGI Friday’s.
Prior to joining HSA, Mr. Havdala was a managing director at Atlas Partners Commercial Brokerage, and also served as a research analyst at Tanguay-Burke-Stratton performing due diligence on site acquisitions for Target, Jewel-Osco and Walgreens in the Chicagoland market.
Affiliations
Havdala is a licensed real estate broker in the State of Illinois and a member of the International Council of Shopping Centers (ICSC). He is also actively seeking the Certified Commercial Investment Member (CCIM) designation.
Education
Arizona State University, BA, Marketing and Certificate in International Business
Michael Havdala specializes in Retail Tenant Representation, leasing and selling available properties, and on assembling land parcels for retail development.
David G. Keady
Senior Vice President in the Retail Brokerage Division of HSA Commercial Real Estate
Experience Mr. Keady has transacted leases with national retailers such as Kmart, Office Max, Pier I Imports, Petco, Blockbuster Video, Payless ShoeSource, Radio Shack and General Nutrition Centers.
Prior to joining HSA, Mr. Keady was a Senior Leasing Representative with Klaff Realty.
Affiliations
Keady is a licensed real estate broker in the State of Illinois and a member of the International Council of Shopping Centers (ICSC).
Brenton Schrader
Associate in the Retail Brokerage Division of HSA Commercial Real Estate
Experience
Mr. Schrader specializes in urban retail real estate leasing and sales for a portfolio of corporate clients. Schrader has represented the University of Chicago, U.S. Bank, SuperValu, and The Affito Group in real estate leasing and disposition activities. Brenton is also active in retail tenant representation and is the exclusive broker for Specialty's Cafe and Bakery in metro Chicago as well as several other retail and restaurant clients.
Affiliations
Schrader is a licensed real estate broker in the State of Illinois and a member of the International Council of Shopping Centers (ICSC).
Education
Columbia College Chicago, BA in Marketing
Loyola University Chicago, MBA
