Al Green Sings Retailers’ Theme Song
Imagine your favorite retail broker right now singing with Al: Let’s stay together. NGKF’s Eddie Goldmeier tells us that while vacancy is shrinking and retailers have a bit more of a challenge to find good spots, they’re not looking for new frontiers yet. Their preference is to be next to an anchor tenant (more so than finding a boffo new part of town). He cites Canton Crossing’s success and says he has a few clients interested in Foundry Row even though it’s still 18 to 24 months out.
Eddie’s also working with the owners of Northwood Plaza to renovate, motivated by Morgan State University’s 400k SF expansion. The three new buildings erased the gap between the shopping center and the school, so they’re now officially next door neighbors.
He’s also been working with the locally based Mariner Finance to expand nationally. It added 15 branches last year to reach 71, plans to tack on 30 to 40 more this year, and wants to end 2015 with 150. If you want to cheer for a native son, here's your chance. Eddie says Mariner was prudent with its loans and so it weathered the financial market crash well. (A better movie would've been The Mariner of Wall Street.) He also stepped out of his retail shoes to help the company double its HQ. It’ll move in May from 17k SF in 3301 Boston St in Canton to 35k in Blue Ocean’s 8211 Town Center Dr in White Marsh.