Barre3 has signed an NNN lease to open a unit at an outparcel three-tenant building in the White Oak Northwest Regional Center, by early- to mid-fall of 2021. Build-out costs will be approximately $200K for improvements to the cold dark shell unit. There was a potential issue with the location being an inline space between two food tenant neighbors — Wingstop and Alpaca Chicken (a North Carolina-based Peruvian restaurant chain) — as the Barre3 team was concerned about potential cooking-related odors seeping in. However, the fact that the space is in a high-growth area with strong regional access won the Barre3 team over.
Tenant: Barre3
Location: Garner, N.C.
Square Footage: 1,400 s.f.
Property Type: Regional Shopping Center
Value: ~$600K
Initial term: 10 years
Developer/Owner: Core Properties
The suburban community of Garner is located about eight miles south of downtown Raleigh, and the shopping center houses co-tenants such as Panera Bread, Kay Jewelers, Sheetz and Cabela’s. The site has a population of 31,068 within a three-mile radius and an average household income of $73,118/year. The location is at a high-traffic intersection, with Highway 70 having 32,000 cars per day and Jones Sausage Road with 16,000 cars per day. The mall is also 1.5 miles from Interstate 40, which sees 110,000 cars per day. The shopping mall has benefited with additional traffic due to the Amazon distribution center that opened less than a mile away with 3,000+ employees in August of 2020. Barre3 is known for its full-body balanced workout that utilizes strength conditioning, cardio and mindfulness.
Property Representation: Core Properties, 831 E. Morehead St., Suite 445, Charlotte, NC 28202.
Rich Barta, (704) 332-0844. rich@coreproperties.com
Tenant Representation: Katz & Associates, 4500 Cameron Valley Parkway, Suite 240, Charlotte, NC 28211.
Julie Gardner, Principal, (704) 602-9350. juliegardner@katzretail.com
