Category: Retail News

Site Selection: Key Elements in Finding the Right Commercial Space

Posted on 08/24/23

Brands include Church's Chicken, Costco, Bloomin' Brands, Jersey Mikes, Dillard's, Five Below, HomeGoods, TJ Maxx, and Marshalls.

You know the old saying: “Location. Location. Location.” In the commercial real estate game, well-designed business plans, solid funding, and meticulous execution are all necessary pieces of the puzzle, but without the right location, success can be elusive. Finding the right commercial space for your business plays a pivotal role in determining its fate. The perfect location can be the catalyst for exponential growth, while a poor choice can lead to stagnant sales and missed opportunities. When it comes to selecting the right site, making an informed decision is paramount.

The site selection process involves a thorough evaluation of numerous factors to identify the most optimal location for a particular commercial use, be it a retail store, restaurant, office building, or industrial facility. Engaging the services of a trusted commercial real estate firm that is familiar with the local market can prove to be a prudent choice, as it can streamline the process and will likely yield potential cost and time savings. To kickstart the site selection journey, the first crucial step involves defining the project’s unique requirements and clear-cut objectives. This encompasses determining the ideal property size, type, location, budget, and project timeline. Armed with this comprehensive information, a commercial real estate agent can get to work to find options that make the most sense for a client.

Factors to Consider in the Site Selection Process:

Suitability: A site’s prime suitability almost always revolves around its accessibility to customers, employees, and suppliers. A strategic location near major roads, highways, and public transportation can be crucial. Additionally, the availability of utilities to the site as well as environmental considerations can often play a vital role in evaluating suitability. And of course, understanding the site’s zoning is essential, as it determines the permissible uses in the area. If zoning adjustments are needed to align with the intended use, an experienced commercial real estate agent can help navigate municipal requirements for a smooth process.
Demographics: A comprehensive evaluation of the surrounding area’s demographic profile is also imperative to ensure it supports the intended use of the property and aligns with the needs of the community and workforce in the area.
Market Conditions: Thorough analysis of real estate market conditions helps gauge the demand for properties or businesses similar to the one under consideration. This information is vital for predicting the potential return on investment. An in-depth market analysis includes studying current trends, the availability of land or commercial spaces in the desired location, traffic counts, and property values.
Competition: The presence of similar businesses or developments in the area also should be evaluated to determine the expected level of competition and the potential for market saturation.

Once potential sites have been selected, a tour of each site usually follows to help investors determine the best possible option.

How Kelley Commercial Partners Can Help

Over the years, we’ve helped numerous major brands and businesses navigate the complexities of site selection, so if you’re looking to embark on a successful commercial venture, Kelley Commercial Partners’ team of knowledgeable agents possesses the expertise to guide you through every step of the process. We understand that “location” is the cornerstone of prosperity, and our thorough evaluation process ensures we find the most optimal site tailored to your unique business needs. With a keen eye on suitability, demographics, market conditions, and competition, we meticulously identify prime locations that can serve as catalysts for exponential growth. You can trust KCP to provide unwavering support in achieving all of your business goals.

Brooke Miller Agent | Partner

Kelley Commercial Partners has an award-winning team of real estate professionals with the experience and knowledge to ensure you maximize your potential and reach your financial goals. Let us help you create a clear plan and provide the guidance you need to confidently move forward. Contact us today or click here to explore available properties.

Simmons Tower Lobby Perks Up

Posted on 11/29/22

Things are perking up in the lobby of Simmons Tower. Italian Coffee Corner opened in early November, and it is quickly becoming a regular stop for a morning boost, lunch, or an afternoon pick-me-up.

Owners, Bruno Muskaj and wife, Yuliia Kornytska had just opened Coffee Corner in Maumelle when they learned about lobby space available in Simmons Tower. Brooke Miller and Brandon Sheard of Kelley Commercial Partners met with the couple and showed them the space in the southeast corner of the lobby. The couple decided to go for it and open a second location. They placed their order for another Italian-made Lavazza espresso machine and waited three months for its arrival. The Lavazza finally arrived, and she is a beauty! With Bruno in charge and using Lavazza’s 100 percent Arabica beans, the results are smooth, rich, and oh, so gratifying.

Yuliia and Bruno met while working on a cruise ship and dreamed of opening a coffee shop of their own. They were about to open one in Saranda, Albania when Covid hit and a friend asked them for help in his restaurant in Arkansas. Arkansas? Bruno grew up in Albania and never thought he could live away from the sea, but when he saw Arkansas, he loved it. “It’s beautiful here. Lots of trees. Plenty of water,” Bruno said.

Bruno Muskaj, co-owner of Italian Coffee Corner

Bruno’s love for coffee began at a very early age when his Italian grandmother showed him how to make espresso. His favorite drink is the ristretto, which is a concentrated, short espresso shot. Yuliia’s Ukrainian roots influence the pastries they serve — buttery, flakey, and delicious.

Now with two shops, Yuliia manages the very busy Maumelle location while Bruno manages the downtown shop. Bruno prefers being in the center of the city with lots of activity. Their menus differ slightly but both offer plenty of options ranging from the crowd-favorite chocolate danishes to savory sandwiches served on their freshly baked, buttery croissants.

So, next time you’re downtown and need a little something to get you going, visit the Italian Coffee Corner in Simmons Tower. They’re open Monday through Friday from 7 a.m. to 3 p.m.* Coffee Corner in Maumelle is open Monday through Saturday from 6 a.m. to 2 p.m. and Sundays from 8 a.m. to noon.

* Hint: If you don’t happen to work in or near Simmons Tower, the southeast entrance nearest the intersection of 6^th and Spring Streets will lead you directly to Italian Coffee Corner. Metered parking is almost always available on 6^th St.

Tenant Estoppel Certificates

Posted on 11/08/22

Are you a tenant? A landlord thinking about selling? Or an investor looking to buy a leased property? If you have answered “yes” to any of these questions, it is important that you understand what a tenant estoppel certificate is and the benefits and protections it offers.

What is a tenant estoppel certificate?

A tenant estoppel certificate is a legally binding document signed by a tenant verifying the current status and terms of a lease and specifying any modifications to the original agreement, defaults by the landlord, or other issues relating to the lease. Typically, an estoppel certificate is requested by the landlord as part of the due diligence process before closing on the sale of a property. This statement of facts regarding the lease and the premises estops either party from making a claim that contradicts those facts post transaction.

If you lease, own, or want to purchase a tenant-occupied property, it’s important to understand how a Tenant Estoppel Certificate can protect you.

Most commercial real estate lease agreements include a provision requiring a tenant to complete an estoppel certificate within a specified amount of time after receiving the Landlord’s request. However, only a landlord wishing to sell or refinance the property would request the estoppel. If a lease does not have a provision requiring a tenant to complete an estoppel certificate, it is in the best interest of the tenant to carefully review and complete the estoppel certificate to verify all pertinent lease information.

Why sign a tenant estoppel certificate?

From the tenant’s perspective, an estoppel certificate informs and certifies to the purchaser of the property (i.e., the new landlord under the lease) and, in the event of financing, the lender of any existing issues they will need to address after closing. For lenders and purchasers, the estoppel certificate verifies information presented by the landlord regarding the tenant, the premises, and certain material terms of the lease, which helps prevent any costly surprises after closing.

As a full-service commercial real estate firm, Kelley Commercial Partners provides landlord and tenant representation. And no matter which side we represent, we are committed to successfully guiding you through the process from the beginning through closing. For all your commercial real estate needs, let us be your partner to success.

Stretch Zone Opens in West Cantrell Plaza

Posted on 06/28/22

Stretch. Work. Play. Repeat. That is the mantra at Stretch Zone, a practitioner-assisted stretching facility that recently opened its first Arkansas location in West Cantrell Plaza at 14300 Cantrell Rd. in Little Rock.

Blake Mack, the general manger of the new West Little Rock location explains practitioner-assisted stretching as “a life-changing stretch experience that can provide clients with immediate relief from muscle pain and tension, improve pain-free range of motion, and enhance physical and athletic skills.” And the best part is, you see results from day one. Mack described his session with a client recently saying, “I had to remove her socks when we first began because she could not bend over to do that herself, but by the time we were done, she was putting on her own socks!” That’s a fairly impressive accomplishment after a single session.

Stretch Zone uses a patented strapping system and proprietary tables that position, stabilize, and isolate muscles.

Stretch Zone uses a patented strapping system and proprietary tables that position, stabilize, and isolate muscles, allowing practitioners to provide a unique stretching experience that simply cannot be accomplished at home. This unique approach is designed to help just about anyone, from professional athletes to those recovering from surgery, and even a completely unconditioned person with very limited mobility.

All Stretch Zone practitioners receive hands-on training and are certified by the National Board of Therapeutic Massage and Bodywork, which means you are always in good hands. They work with professional sports teams in the NBA and the NFL. Stretch Zone services are also included in some of the best spas around the world, from Miami, to New York City, to Italy. And if you’re looking to improve your golf swing, Stretch Zone has you covered. They work closely with Palm Beach Gardens, the PGA National Resort and Spa!

Stretch Zone’s operating hours are flexible enough to work just about anyone’s schedule. They are open from 7 a.m. to 7 p.m. Monday through Friday and 7 a.m. to 5 p.m. Saturday and Sunday. You can try your first stretch session for free. To book an appointment, call 501.812.3931 or visit their website.

Brandon Sheard and Kindley Wasson of Kelley Commercial Partners represented Stretch Zone, and Eric Varner of Kelley Commercial Partners represented the landlord. Welcome to West Cantrell Plaza, Stretch Zone, and welcome to Arkansas!

Ageless Health & Fitness Relocates to Village@PV

Posted on 04/15/22

Ageless Health & Fitness, the newest business to move into the Village@PV (formerly, Village at Pleasant Valley) is a gym, but it’s not just any ordinary gym. Far from it. Delena Morrison, co-owner with her husband, Edward Drangle, calls it an “upscale boutique fitness center,” which is without a doubt a far better description.

So, what sets Ageless Fitness apart from your average gym? Well, first and foremost it’s owned and operated by a physical therapist with over 35 years of experience with functional fitness. Each new member receives a full assessment by a physical therapist who then uses that information to create a personalized fitness program that is based on each individual’s goals and needs, as well as their limitations. “We are the only gym to combine physical therapy with fitness. No one else does that. That’s what sets us apart” Morrison says.

Ageless Fitness focuses on functional fitness – a combination of strength training, posture, flexibility, and coordination. Trainers guide members through techniques and movements that are designed to address all these areas and work several parts of the body all at once. Special attention is paid to developing core strength, one of the most important aspects of keeping the body fit and functional at any age.

n addition to their unique fitness program, Ageless Fitness offers massage therapy, specialized classes including Pilates, group training, personal training, cardio, strength and flexibility programs, as well as nutritional counseling. They also sell a wide variety of wellness products including stretch bands, heel lifts, and CBD products.

Morrison describes their new space as more open and brighter than their previous space. “The signaled intersection at the entrance to the shopping center has also made a lot of difference,” she said. “It provides much easier access.”

Ageless Health & Fitness Center is located at 10700 N. Rodney Parham Rd., Suite C in Little Rock. They are open Monday-Thursday from 6 a.m. to 8 p.m., Friday from 6 a.m. to 6 p.m., and Saturday from 8 a.m. to 2 p.m. For more information, call 501-225-9996 or email info@agelesshealthandfitness.com.

For leasing information at the Village@PV, contact Brooke Miller or Drew Laning at 501.375.3200.