Charles McNamee has joined Bayer Properties as Senior Vice President of Development and Construction. In this role, Charles will be responsible for all aspects of the development and construction process at Bayer Properties. He will oversee both the Development and Tenant Coordination and Construction Departments.
Birmingham’s Uptown Entertainment District, located near the Birmingham-Jefferson Convention Center (BJCC), hosted its grand opening celebration, “Eat Up: A Taste of Uptown,” on July 31. Featuring tastings from each of Uptown’s seven restaurants, Cantina Laredo, Bottle & Bone, Todd English P.U.B., Texas de Brazil, Octane Coffee Bar, The Southern and Mugshots, the event’s street festival atmosphere also included entertainment from three of Muscle Shoals’ Single Lock Records recording artists: Belle Adair, The Bear and Alabama Music Hall of Fame Inductee, Donnie Fritts.
Bayer Properties announced that five new retailers will be opening this fall at The Summit Birmingham. Each of these retailers will further enhance the unique and fresh mix that The Summit continues to offer and all stores are exclusive to the market and the first location in Alabama.
“We are thrilled about the addition of these retailers. These brands fit perfectly with Bayer Properties’ ongoing commitment to further enhance our customer’s experience while bringing exclusive, one-of-a-kind stores to The Summit,” said Libby Lassiter, EVP of Leasing and Retail Development for Bayer Properties.
Bayer Properties has been engaged to oversee leasing and management of Springhurst Towne Center, a regional mixed use power center located in Louisville, Kentucky.
“We are proud to be a part of Springhurst Towne Center,” said Becky Norton, Regional Manager for Bayer Properties. “The center is in an excellent location and we look forward to utilizing our expertise in curating the perfect retail mix and property environment to enhance the overall shopping experience for our customers, while creating long term asset value for our owners.”
Bayer Properties was the 5th fastest growing third-party manager in the U.S. during 2013, based on an industry study conducted by Chain Store Age (May, 2014; article). Bayer’s third-party management business continues to experience growth including the addition of over 2.5 million square feet of new commercial retail and office assets during 2013. Today, Bayer Properties’ owned and third-party management portfolio consists of 11 million square feet of retail, office, residential and mixed-use assets.
Brad Bailey has joined Bayer Properties as Vice President of Business Development. Brad has over 20 years of experience in the commercial real estate and retail industry, most recently with The Weitzman Group, where he held the position of Senior Vice President/Director of Investment Sales.
Bridge Street Town Centre is the premier mixed-use regional fashion center in northern Alabama. With over 600,000 square feet of high-quality shopping and dining, a 210-room Westin Hotel and a 14-screen Monaco Pictures, this outdoor fashion center is the destination of choice for consumers to shop, dine, stay and play. Populated by a dynamic mix of national retailers and specialty stores as well as a strong variety of restaurants unique to the market, Bridge Street Town Centre is a community gathering place enjoyed by all.
Birmingham-based Bayer Properties announced that Whole Foods Market has signed a lease to occupy 40,000 square feet at The Summit in Lexington, KY. Whole Foods Market is the leading retailer of natural and organic foods. With more than 370 locations worldwide, it was named “America’s Healthiest Grocery Store” by Health magazine.
Bayer Properties announced that it has been engaged by Pearlmark Real Estate Partners to oversee management and leasing efforts at Stones River Mall, a 595,000 square foot regional enclosed mall in Murfreesboro, TN. This is Bayer Properties second asset in the state of Tennessee, further expanding its mixed-use asset portfolio of approximately 10 million square feet.
Pinnacle at Turkey Creek, located in Knoxville, Tennessee, is a finely edited mix of big box, specialty retailers and restaurants that attract locals and tourists alike. Located near the University of Tennessee in Knoxville, Pinnacle at Turkey Creek is the premier shopping and entertainment destination for the area.
Metropolitan, a 412,204 square foot center, is Midtown Charlotte’s premier urban mixed-use environment, combining retail, residential, office and recreation into one walk-able location. The retail component is an exciting blend of necessity, fashion and restaurant tenants anchored by leading national retailers, such as Trader Joe’s, Best Buy, Marshalls and Staples. Interwoven within and above the retail are luxury condominiums and a ten floor class “A” office building.
The Summit Birmingham recently opened four new stores: West Elm, Kate Spade New York, C. Wonder and Madewell, which are exclusive to the market. During the month of October, each store hosted unique grand opening celebrations, utilizing social media, email, direct mail and partnerships with local non-profits to bring customers into their stores. Overall, retailer sales to-date have exceeded plan.
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The Summit Birmingham is the flagship development in the Bayer Properties portfolio, embodying the goal of creating a gathering place where people can shop, live, work and play in an enjoyable environment. This shopping destination draws visitors from across the region with its elegant outdoor setting, fine dining, premium office space and high demand mix of retailers. … Read More
Introducing our newest development, The Summit Lexington, a mixed-use shopping destination located in the bull’s–eye of Lexington, Kentucky’s thriving retail hub. This unique outdoor fashion center will offer specialty retail, restaurants, and a residential component all in one convenient location. … Read More
Northwest Arkansas Mall, located in Fayetteville, opened in 1972 and was recently renovated and expanded. Bayer Properties took over the management of this 820,000 square-foot super-regional mall, which is anchored by Dillard’s, JCPenney and Sears, features a 12-unit food court and more than 100 specialty stores and eateries including Aeropostale, Forever 21, Banana Republic, Children’s Place and Gymboree, in 2011. Year-to-date 2013, Northwest Arkansas Mall has an occupancy rate in the low to mid-90’s with sales performance above the industry average.
Bayer Properties continues to expand the enclosed mall segment of its asset management portfolio, with the recent addition of Southlake Mall in Morrow, GA. This 1,000,000 square foot regional mall is anchored by Macy’s and Sears in a dense trade area within southeastern Atlanta, the ninth largest MSA in the U.S. Enclosed malls now represent 30% of Bayer’s operating portfolio.
A hybrid power center set in the grandeur of the Rocky Mountains, Front Range Village in Ft. Collins, Colorado, imparts the intimacy of a mountain town with the amenities of a big city mixed-use space. Within lunch-hour shopping distance lay the headquarters of Intel, Hewlett-Packard and Agilent Technologies with their approximately 4,000 combined office workers.
The interior 175,000 square feet of fashion retail and restaurants at Front Range Village integrates with 80,000 square feet of Class A office space. Surrounding this “main street” lies 495,000 square feet of traffic-driving, power-center anchors, including Super Target, Lowe’s, Toys R Us, and Staples. A unique addition to the retail core, the southeast branch of the Fort Collins Public Library pulls in an additional 280,000 visitors to the property annually. … Read More
The Summit Birmingham:
Seasons 52, Opened March 2013. First Restaurant in Alabama
Steel City Pops, Opened March 2013
Allen Edmonds, Opening late Spring 2013
Uptown Entertainment District (Birmingham, AL):
Todd English P.U.B., Opened February 2013. First restaurant in Alabama
Octane Coffee, Opening Spring 2013. First store in Birmingham
Bayer Properties continues to expand its national footprint with over 2,000,000 square feet of new Third-Party managed asset assignments since the start of 2013. Institutional Mall Investors has engaged Bayer to oversee management of Bridge Street Town Centre, the premier mixed-use regional fashion center in Huntsville, AL. This assignment continues Bayer’s relationship with Institutional Mall Investors, a partnership which represents approximately 15% of Bayer’s owned and managed portfolio of almost 12,000,000 square feet.
J.P. Morgan Asset Management has engaged Bayer Properties to oversee management of the Metropolitan, a premier urban mixed-use asset located in Charlotte, North Carolina. This assignment continues Bayer’s partnership with institutional investors advised by J.P. Morgan Asset Management, which also includes the joint venture acquisition of The Avenue Webb Gin in suburban Atlanta this past November, among other projects.