Commercial Real Estate Insights Podcast
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Oakland Town Center, Multifamily Trends, and Toastique Franchise Expansion
In this episode, Steve Hamoen delves into the Oakland Town Center project, discussing its economic impact and comparing it to similar retail developments. He highlights Virtu Investments' role in multifamily properties and explores current challenges and trends within this sector. The conversation turns to the implications of Rite Aid store closures and potential backfill tenants. Steve also covers the expansion of the Toastique franchise, reflecting on trends in health-focused dining options.
Key Points
- A $50 million investment in Oakland Town Center is transforming a 15-acre site into a mixed-use development that will boost local economic growth and attract both local and regional retailers.
- Virtu Investments' $111 million acquisition of multifamily properties in West Seattle highlights a trend where high construction costs make existing property investments more attractive in growing urban areas.
- The closure of all Rite Aid stores has left behind prime real estate that is being repurposed in various ways, from dollar stores and ethnic grocers to police stations and healthcare facilities, depending on the location.
Chapters
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Transcript
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