NAI Isaac - Central KY Commercial Real Estate Blog

NAI Isaac Commercial Properties has been appointed as the Receiver of Towne Point. Towne Point is a 35,000 SF retail center strategically located Dixie Highway (US 31 W) in Elizabethtown, KY. The appointment was awarded based on NAI Isaac’s ability to rapidly assume management responsibilities and implement its Strategic Asset Optimization Process. Locally, NAI Isaac exclusively represents over 9 million square feet of commercial property with a combined market value in excess of $900 million.

NAI Isaac brings two new retailers to the Richmond Centre in Madison County. Sprint will open a new 1,500 SF store as an authorized agent of Sprint and is slated to open this summer. Subway will open its new 1,200 SF restaurant in Fall 2010 and will be the 6th location for the city of Richmond. Richmond Centre is the largest retail development between Lexington, KY and Knoxville, TN, as well as the premier regional shopping, entertainment and hospitality venue for south, central Kentucky. The development will comprise approximately 750,000 SF of retail space and is anchored by JCPenney, Belk, Meijer, TJ Maxx and Cinemark. For more information, visit http://property.naiisaac.com/flash/Richmond-Richmond%20Centre.swf Paul Ray Smith, Executive Vice President and Jim Kemper, Vice President of NAI Isaac Commercial Properties, exclusively represented the property owner in the leases.

NAI Isaac is pleased to announce the sale of Barren River Plaza in Glasgow, KY to a local investment group. Barren River Plaza is a 245,300 SF shopping center anchored by Peeble’s department store. Other retailers include H&R Block, Hallmark, and Advance America Cash Advance. NAI Isaac represented the seller, LBUBS 2002-C1 Glasgow, LLC in this sale. In addition, NAI Isaac served as the leasing and management agents for Barren River Plaza for Seller. The property was sold in 2 parcels for a total of $3,175,000 to ByPass Development, LLC & Barren River Plaza Project, LLC. NAI Isaac has been retained as the exclusive leasing and managing agents of the property by the new ownership group. NAI Isaac’s property management and leasing team will work with the new ownership group in revitalizing and enhancing the tenant mix and maintenance of the center. NAI Isaac’s Paul Ray Smith, Jim Kemper and Joe Cornelius, will be the leasing and management team assigned to the project.

Yamamoto’s Japanese restaurant will open its first Lexington quick service location in the Simpson Center at 1080 South Broadway. Yamamoto’s To Go will offer authentic Japanese cuisine including a full complement of sushi. The Simpson Center restaurant will open in the Fall 2010. Paul Ray Smith and Jim Kemper of NAI Isaac Commercial Properties, worked with the Landlord and the Tenant to secure the lease.

Shenanigans Wine and Spirit, an upscale liquor store, based in Bowling Green, KY will open its first Lexington location at The Lex. Located on 501 South Broadway in downtown Lexington, The Lex is a dynamic mixed-use two blocks west of the University of Kentucky campus and two blocks south of Rupp Arena. The Lex features first class residential amenities including a private 6,500 sf indoor amenity center, a private outdoor swimming pool, and an urban plaza in an environmentally friendly design. The residential portion of the project will help provide a built-in customer base for the retailers at The Lex. Shenanigans will open in September 2010. Paul Ray Smith and John Miller of NAI Isaac Commercial Properties, worked with the Landlord and the Tenant to secure the lease.