Challenge
Boasting excellent visibility, ample parking, and 140,000 sq. ft. of retail space, Broadmoor Shopping Center on Florida Boulevard in Baton Rouge caters to the surrounding 190,000 inhabitants within a 15-minute radius and has long been anchored by Planet Fitness and Hi Nabor grocery store. But when the incredible success of 10-year-old tenant, Planet Fitness, meant they outgrew their 25,000 sq. ft. commercial space, Justin Langlois and Foster Murphy with Stirling Properties were asked to find a credit-worthy tenant to re-lease the space as soon as possible.
Action
Justin and Foster wasted no time in contacting several successful gym franchises and fitness clubs to inform them about the availability of this well-positioned commercial space at Broadmoor Shopping Center. Within just a few weeks, Justin and Foster secured not one but two letters of intent from interested parties. As negotiations progressed, it became clear that one of the interested parties would require additional space to accommodate extra amenities for its customers. The additional amenities included on-site childcare, group fitness classes, tanning, and red-light therapy, as well as hydro-massage. In this case, Justin Langlois and Foster Murphy’s expertise, communication skills, and ability to think outside the box resulted in an increase in the footprint of the initial lease from 25,000 to 36,600 sq. ft.
Result
When it comes to leasing and securing new tenants, we always aim to satisfy both parties, and this case was no different.
Testimonial
"When it came time to find a new tenant at Broadmoor Shopping Center, Justin and Foster immediately jumped into action and secured multiple offers for a former fitness space. They were able to increase the retail footprint from the previous user and my rent increased as a result of their efforts. - Clark Heebe