11:33 AM
Newmark Grubb Knight Frank (NGKF) announced the opening of a new retail store for Leslie’s Poolmart, Inc. (Leslie’s) at 2005 E. Indian School Road. The nation’s leading retailer of swimming pool supplies and related products leased 4,500 square feet of a new 6,500 square foot retail building developed by DM Ventures I, LLC. The new retail storefront is located next to Leslie’s custom converted 91,500-square-foot office complex, which opened late last year. NGKF Executive Managing Director Jerry Jacobs handled the transaction.
“The Leslie’s renovation of the vacant Sam’s Club and the opening of its new retail store is elevating the perception of the Camelback East Village neighborhood, and furthering its transition into a burgeoning development area,” explained Jerry Jacobs. He continued, “This is a prime example of how creative and adaptive reuse can literally transform a community.” Other developments planned along Indian School Road include a new 220-unit Class A apartment complex situated on 6.5 acres at 20th Street, scheduled to commence in April, and another Class A apartment complex at 28th Street with 152 units. Additionally DeDito Partners has redevelopment plans for a 140-acre retail center located at 32nd Street and DM Ventures I, LLC is actively promoting developable or ground lease land adjacent to Leslie’s.
Leslie’s Poolmart Inc.
Founded in 1963, Leslie’s Poolmart, Inc. is the world’s largest specialty retailer of swimming pool supplies and related products. The Company currently markets its products through over 850 retail store locations in 35 states; a nationwide mail-order catalog; and an Internet e-commerce site, www.lesliespool.com.
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 12,000 professionals operate from more than 330 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/.