2012 baton rouge retail market overvie€¦ · 2012 baton rouge retail market overview presented...
TRANSCRIPT
![Page 1: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/1.jpg)
2012 Baton Rouge Retail Market Overview
Presented by:Jonathan D. Walker, CCIM
April 12th, 2012
Committee Members: Charlie Colvin, Austin Earhart, Sean McDonald, Dottie Tarleton, Colin Smith, Justin Langlois, Brad Way, Evan Scroggs
Aerial Photography by John Wren
![Page 2: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/2.jpg)
National Headlines• Bricks Still Beat Clicks
• Vacancy rates getting better in U.S.• 2011 – 2010 Retail Closings• 7.5% - 10% nationally
• Retailing at the Crossroads• Sears, Kmart, Best Buy, Conn’s Closures
• U.S. Hospitality Update
![Page 3: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/3.jpg)
Local Retail Trends• 1993 Trends Report
• Six Years of Steady Growth• Delchamps, Circuit City Expanding• Price conscious consumers
• Tenant and Landlord relationships changing
• Local - National Retail Closures
• Lack of A+ locations for new retail
![Page 4: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/4.jpg)
Location, Location…
• Iberia Bank – Perkins Road• Chick-fil-a – College Drive• Hancock Bank – Essen Lane• Red Lobster – Bluebonnet• Apricot Lane – Jefferson Highway• CVS – Range Avenue
• Higher Prices, mid-block locations, new growth corridors
![Page 5: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/5.jpg)
• Total Area Surveyed: 8,553,159 sq/ft
• Number of Centers: 123 Centers
• Trends – Excluding Lifestyle Centers– Average rent and reimbursements total $15.66 PSF – Overall vacancy rate 9.23%– 65% of centers report less than 10% vacancy, up from
58% in 2011 and 56% in 2010– Centers with 250,000+ SF continue to yield higher
average rents ($19.85/ft) and less vacancy (1.5%)
2012 Shopping Center Survey
![Page 6: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/6.jpg)
Bon Marche
![Page 7: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/7.jpg)
![Page 8: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/8.jpg)
![Page 9: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/9.jpg)
![Page 10: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/10.jpg)
Perkins Rowe
![Page 11: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/11.jpg)
![Page 12: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/12.jpg)
![Page 13: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/13.jpg)
Acadian @ Perkins
![Page 14: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/14.jpg)
![Page 15: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/15.jpg)
![Page 16: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/16.jpg)
![Page 17: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/17.jpg)
![Page 18: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/18.jpg)
Cortana Mall
![Page 19: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/19.jpg)
![Page 20: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/20.jpg)
![Page 21: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/21.jpg)
![Page 22: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/22.jpg)
![Page 23: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/23.jpg)
Broadmoor Village
![Page 24: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/24.jpg)
![Page 25: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/25.jpg)
![Page 26: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/26.jpg)
![Page 27: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/27.jpg)
Siegen Marketplace
![Page 28: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/28.jpg)
![Page 29: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/29.jpg)
![Page 30: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/30.jpg)
![Page 31: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/31.jpg)
Mall of Louisiana
![Page 32: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/32.jpg)
![Page 33: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/33.jpg)
Towne Center
![Page 34: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/34.jpg)
![Page 35: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/35.jpg)
Growth Corridors• Along Perkins Road
• Perkins / Acadian
• Rouzan
• Corporate Boulevard
• Airline Highway
• Woman’s Hospital
![Page 36: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/36.jpg)
What’s in store for Baton Rouge Retail
• Continued Redevelopment
• Tenants and Landlords will continue to evolve
• Blessed to be in Louisiana!
![Page 37: 2012 Baton Rouge Retail Market Overvie€¦ · 2012 Baton Rouge Retail Market Overview Presented by: ... • Apricot Lane – Jefferson Highway • CVS – Range Avenue • Higher](https://reader030.vdocuments.mx/reader030/viewer/2022040407/5eab851d1a6bba607e0ebe58/html5/thumbnails/37.jpg)
Jonathan D. Walker, CCIM
Retail Committee Members:Charlie Colvin, Herb Gomez, Chase Muller, Sean McDonald, Dottie Tarleton, Ken Damann, Colin Smith, Justin Langlois, Brad Way
Special Thanks to John Wren, Wren’s Aerial Photography, LLC