Newmark Grubb Knight Frank (NGKF) announces the entry of Burkes Outlet to the Las Vegas market. The Florida-based national off price retailer recently signed three leases in prime retail locations throughout the Las Vegas market as part of the company’s southwest regional expansion. Two outlets opened in October, at 3145 E. Tropicana Avenue in Las Vegas, and 625 S. Green Valley Parkway in Henderson. A third outlet, encompassing 17,068 square feet at 4700 W. Sahara Avenue, will open in spring 2017. NGKF’s Michael Zobrist and Nelson Tressler represented Sahara 3D, LLC on the lease transaction, while Tim Westfall represented Burkes.
“We are thrilled to be entering the Las Vegas market with three strong locations in emerging growth markets,” stated Lauri Mendoza, regional site manager at Burkes Outlet Stores, Inc. “Offering discount brand name fashion and home goods, we provide a vibrant shopping experience for the entire family. The company is expanding into high potential areas to bring our distinctive brand to off-price fashion destinations and to provide additional options for consumers.”
Burkes leased a total of 59,479 square feet throughout the metro area, choosing dominant centers and new developments in expanding or recovering markets for its brand. Locations include Tropicana Center, where the company leased 22,511 square feet of second generation box space, and Green Valley Ranch in Henderson, with a new 20,000 square foot build-out, both of which opened in October. The retailer’s third destination at Sahara Pavilion North will open in spring 2017.
Owned by Beall’s, Inc. of Bradenton FL, Burkes Outlet Stores, LLC is exclusively represented by NGKF Retail Managing Director Tim Westfall throughout the southwest. NGKF Retail has assisted the company in growing its footprint this past eighteen months 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.
“This is a perfect opportunity for Burkes, considering the timing and expansion of select markets in the Southwest region,” commented added NGKF’s Tim Westfall. “Identifying micro-markets poised for growth and the optimal placement within those markets for the retailer has been a rewarding challenge.” NGKF Retail simultaneously pinpointed three new locations for the retail outlet in Albuquerque, with three grand openings scheduled for November 10th. “Burkes continues to actively pursue 20,000-25,000 square foot opportunities throughout the southwest region, including Arizona, New Mexico and the Las Vegas metro area,” concluded 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 by Specialty Retailers Inc. of Houston. For more information, www.beallsinc.com.