Lincoln Brokers Lease Renewals by Dollar Tree and Hibbett Sports at City Crossing in Warner Robins, Georgia
Lincoln Property Company Southeast (Lincoln) has brokered lease renewals by Dollar Tree and Hibbett Sports at the City Crossing shopping center in Warner Robins, Georgia. Kirk Williams, vice president of retail leasing in Lincoln’s Atlanta office, represented the landlord in the transactions and was assisted by Kim Dart and Morris Srochi of Dart Retail Advisors in the Hibbett Sports deal.
The details of the City Crossing transactions are as follows:
• Dollar Tree extended its lease of 15,600 square feet for 10 years, to 2025.
• Hibbett Sports renewed its lease of 6,000 square feet.
Through its leasing and management of City Crossing, Lincoln has revitalized the center, which totals 190,433 square feet and was built in 2001. After taking over the property as a court-appointed receiver, Lincoln worked on behalf of City Crossing’s ownership to negotiate and rebuild a faulty retaining wall on the property, which removed an impediment to securing leases. The repairs were fully completed in third-quarter 2014.
The completion of the repairs resulted in an increase in leasing activity, which has allowed Lincoln to renew and extend several credit tenants such as Michaels, Shoe Carnival, Dollar Tree and Hibbett Sports. A new anchor tenant, HomeGoods, has been signed to occupy 22,873 square feet, and this new retailer will open in the fall of 2015, bringing increased traffic to the center. The center’s occupancy rate has improved to 86 percent.
“Like retail markets across the state, the retail sector in Warner Robins continues to improve, and City Crossing offers a prime spot for retailers in the market,” Williams said. “Both Dollar Tree and Hibbett Sports recognize the value of being in City Crossing and were eager to remain in this improved, highly visible location.”
In other Lincoln news, America’s Best Eyewear renewed its lease of 3,000 square feet at Pleasant Hill Square, a 282,137-square-foot shopping center in Duluth, in metro Atlanta’s Northeast submarket. Williams represented the landlord in the transaction.
Major tenants at Pleasant Hill include Toys “R” Us and Jo-Ann Fabrics and Crafts.
“As 2015 rolls on, we expect to see heightened leasing activity at the retail properties we lease across Georgia,” Williams said. “This is an exciting time for the sector in this state.”