PGA Tour Superstore. Picture courtesy of Wooden Investments Cos.
Wooden Investments Cos. has signed a 10-year lease with golf retailer PGA Tour Superstore for 42,212 sq. ft of retail area at Gateway Market in Meridian, Idaho.
A Cushman & Wakefield crew brokered the lease on behalf of the owner, whereas Colliers Govt Vice President Stuart Thain represented the tenant.
The placement, located close to Boise and beforehand occupied by Rosauers grocery retailer, will grow to be a PGA Tour Superstore. The shop will supply customized becoming providers for golf gear and attire, together with on-site follow bays for golf classes and clinics.
A sturdy tenant roster close to Boise
Wooden Investments acquired Gateway Market in November 2021. On the time of the acquisition, the middle was solely about 40 p.c leased and anchored by Dealer Joe’s. Since then, Wooden Investments has signed greater than 80,000 sq. ft of recent leases, together with this lease with PGA Tour Superstore, in addition to agreements with WaFd Financial institution and Chicago Hearth Pizza. Mecca Fitness center, Land Ocean, Apricot Lane Boutique and Nekter Juicer Bar are among the many different tenants on the property.
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The Boise-based Cushman & Wakefield retail brokerage crew overseeing leasing at Gateway Market contains Govt Administrators Andrea Nilson and LeAnn Hume, Senior Director Travis Dunn, Senior Affiliate Julie Kissler and Affiliate Braydon Torres.
A retail middle in a rising suburb
Situated 7 miles from Boise, Meridian is the second-most populous metropolis in Idaho, with a inhabitants of 125,963 as of 2021, in accordance with the U.S. Census Bureau. Over the previous decade, Meridian has skilled a constant enhance in inhabitants, rising by 55.4 p.c since 2010.
Because of Meridian’s rental demand steadily growing, Gateway Market will likely be welcoming further new tenants within the coming months, Wooden stated in a ready assertion. Due to the just lately secured leases, the retail middle is totally occupied.
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Over the previous yr, Meridian employment expanded by 3.6 p.c, with a projected job progress fee of 57.5 p.c within the subsequent ten years, in accordance with Cushman & Wakefield. Within the five-year interval between the second quarter of 2013 and the second quarter of 2018, Meridian noticed a considerable enhance in employment, with the addition of 11,885 new jobs throughout numerous sectors similar to development, retail commerce {and professional} and meals providers, representing a 34 p.c rise in total employment.
A one-stop store for the native and close by communities
The 135,732-square-foot grocery-anchored Gateway Market is situated at 2986 N. Eagle Street. The property lies inside the Treasure Valley commerce space and is uncovered to greater than 64,000 automobiles each day, Cushman & Wakefield reveals. Eagle Street, the first retail thoroughfare in Meridian, serves as a connector for communities all through Ada and Canyon counties and is the first route for commuters touring to and from Ada County and weekend resort locations.
Gateway Market is situated close to massive field retailer Lowe’s, in addition to a number of colleges, parks, native companies and medical services. Wooden Investments additionally owns the neighboring CentrePoint Market, a 197,288-square-foot group procuring middle. The property options anchor tenants Kohl’s, Pastime Foyer, Dick’s Sporting Items and Walgreens, along with Qdoba Mexican Eats, Panera Bread and Wingers Restaurant & Alehouse.
