ANNAPOLIS, MARYLAND (June 14th, 2019) — Value-add experts Broad Reach Retail Partners announces the acquisition of Baker Square Shopping Center. This grocery-anchored community center measures 158,380 SF and features Fresh Thyme Farmers Market, JoAnn Fabric and CHI Health. Baker Square is located in the heart of the dominant retail corridor serving Omaha’s affluent western suburbs. The property sits prominently on the tenth-busiest intersection in the Omaha market with 65,400 vehicles passing each day. Baker Square is currently 73% occupied and offers significant upside through 43,394 square feet available for lease.
Broad Reach officially took the reins on June 14th after being drawn to Omaha’s continuing growth. “Downtown Omaha is in the middle of an exciting reinvention, and we see ample room for growth in the surrounding area,” said Nate Tower, Founder and CEO of Broad Reach. “We’re impressed by the city’s commitment to the community, which features good schools, attractive home prices and close proximity to employment centers. The area provides a high quality of life to the community surrounding Baker Square. We are also excited about the recently signed lease by LinkedIn for a new 200K SF campus less than one mile north.” LinkedIn’s campus will house its current 450 Omaha-based employees, and once open in 2021, could have as many as 1,000 employees on the site. Broad Reach is confident it can complement this community effort by creating a better retail experience for its shoppers and tenants alike.
“Broad Reach is known for mutually-beneficial relationships and strong tenant support, and we strive to provide a hands-on management approach for our tenants. This starts with providing a clean and well-maintained facility, in addition to sending our quarterly newsletter with customized tips and updates to help bolster their success,” Tower added. “As we’ve done with dozens of other properties, we’re confident we can take Baker Square to a whole new level to provide a rewarding experience for our tenants, investors and the greater Omaha community.” To continue this growth, Broad Reach plans to develop and implement a merchandising plan that caters to the community by filling the retail voids in the market and complementing the existing tenancy.
About Broad Reach
Broad Reach Retail Partners is a privately held, fully integrated owner and operator of shopping centers. Broad Reach’s national platform that has leases and manages in excess of 4 million SF, including its own portfolio and on behalf of its clients. The company maximizes the full potential of underutilized shopping centers through focused leasing, disciplined redevelopment, and meticulous management.