11:00 AM
Newmark Grubb Knight Frank (NGKF) announces the November 10th grand opening of three Burkes Outlet locations in Albuquerque. The Florida-based national off price retailer recently signed three leases in prime retail locations throughout the Albuquerque market as part of the company’s southwest regional expansion.
Owned by Beall’s, Inc., Burkes Outlet Stores, LLC is exclusively represented by NGKF Retail Managing Director Tim Westfall throughout the southwest, who handled all three lease transactions. NGKF Retail has assisted the company in growing its footprint this past year by more than 282,892 square feet, and the team is in active pursuit of additional 20,000-25,000 square foot opportunities throughout the region including New Mexico, Arizona and the Las Vegas metro area.
“With strategically chosen locations in growth markets throughout the Albuquerque metro area, Burkes achieved its mandate for opening in locations with traffic that benefit from a discount fashion destination store,” commented Lauri Mendoza, regional site manager at Burkes Outlet Stores, LLC.
Burkes leased a total of 57,805 square feet in the metro area. The new stores are located at 3575 Highway 528 in Rio Rancho (18,570 SF), a new development at Enchanted Hills; 10127 Coors Boulevard in northwest Albuquerque (19,247 SF), in a Marshall’s/Jo-Ann/Albertsons anchored shopping center; and 13150 Central Avenue in southeast Albuquerque (19,988 SF), another recent redevelopment in a Sprouts grocery-anchored center. Burkes anticipates a grand opening for all three locations on November 10th.
“We’re excited to offer discount fashion and home goods, while emphasizing bright, colorful and organized spaces with brand name merchandise, emphasizing a pleasant shopping experience for the entire family,” added Mendoza. “We relied heavily on NGKF to identify optimal sites for our brand.”
“We scoured the market for model locations for Burke’s, keeping in mind market activity and timing, shopping center attributes including demographics, cross-draw synergy and traffic counts, as well as identifying micro-markets poised for growth,” added NGKF’s Tim Westfall.
Founded in 1915, Beall’s, Inc. is a family run business that specializes in casual lifestyle and priced right apparel and home merchandise. With over 500 stores nationwide, brands under the Beall’s umbrella include Beall’s Outlet, Burkes Outlet, and Bealls Department Stores (only in FL).
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 14,100 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com/.
About Beall’s, Inc.
Beall’s, Inc. is the parent company of Beall’s Department Stores, Inc, Beall’s Outlet Stores, Inc., and Burke’s Outlet Stores, LLC. The corporation, through its subsidiaries, operates over 530 retail store sites in 16 states across the southern and eastern United States with annual sales over one billion dollars. Since its modest beginnings in 1915 Beall’s has grown to be a major employer in the State of Florida as well as a valued asset to all the communities it serves throughout the country. The firm is headquartered in Bradenton, Florida. Bealls Inc. is not affiliated with the Bealls department stores operated in the Southwest by Specialty Retailers Inc. of Houston. For more information, www.beallsinc.com.