REAL ESTATE

DC Homevet to Brookland Plaza in Washington, D.C.

BY Michael Fickes

Washington, D.C. — DC Homevet has leased a 4,400-sq.-ft. location in Brookland Plaza in Washington, D.C.’s northeastern quadrant. DC Homevet will operate District Veterinary Hospital and Concierge Medicine Center. The Center will provide medicine, surgery, concierge and specialized services primarily for dogs and cats.

Divaris Real Estate, the property’s leasing agent, represented the landlord, Jan and Anna Slamen Family Trust in the transaction.

Other retailers in Brookland Plaza’s line-up include The Arc, Magic Hair Salon, DC Scrubs, Pizza Boli’s, Brookland Market, Delta Elite and ICS.

Divaris Real Estate is a member of Realty Resources, a national group of independent retail property brokers and managers, covering 91 major markets throughout the U.S.

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REAL ESTATE

Jimmy Johns inks 3 leases in Detroit metro area

BY Michael Fickes

Bloomfield Hills, Mich. — Jimmy Johns has signed leases for three new restaurants in the Detroit metropolitan area, two in Livonia and one in Northville.

In Livonia, Jimmy Johns signed a 2,277-sq.-ft. lease on Middlebelt Road. Mid-America Real Estate-Michigan represented Jimmy Johns and the landlord, CVS, in the transaction.

The second Livonia lease secured a 1,740-sq.-ft. space on a pad in a former Wal-Mart redevelopment at the intersection of I-96 and Middlebelt Road. Mid-America represented Jimmy Johns in the transaction, and Howard Schwartz Commercial Real Estate represented the landlord.

In Northville, Jimmy Johns took 1,920 sq. ft. and secured the drive-thru position within Phase I of Northville Park Place at the corner of 7 Mile and Haggerty Roads. Mid-America represented Jimmy Johns, and the landlord, Schostak Brothers & Co., was self-represented.

Mid-America Real Estate is the Michigan ChainLinks representative. ChainLinks Retail Advisors is a national and international network of over 60+ independent offices specializing in tenant representation and shopping center leasing.

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MARKETING/SOCIAL MEDIA

Rwanda tops A.T. Kearney’s First African Retail Development Index

BY Marianne Wilson

New York — Rwanda, Nigeria, Namibia, Tanzania and Gabon occupied the top five places of the first-ever A.T. Kearney African Retail Development Index (ARDI), a new study designed to help large, organized retailers determine where and how to best enter Sub-Saharan Africa’s rapidly growing retail market. The ARDI not only identifies the markets in Africa most attractive for retail expansion today, but those that offer the most potential in the future.

"The top 10 countries in the Index are diverse in terms of scale and growth potential,” said Mirko Warschun, A.T. Kearney partner and ARDI co-author. “Retailers must understand where African countries are in the evolution of the retail landscape and the stages of market development to craft their expansion strategies for Africa."

By 2020, nearly half of all Africans will be living in cities. As disposable incomes rise, consumer spending will grow to almost $1 trillion. Even with the challenges of entering and succeeding in Africa, the opportunity is impossible to ignore.

"Although there are many challenges, Africa has reached a point in its economic development where global retailers must evaluate the significant potential for growth in this market," noted A.T. Kearney partner and ARDI co-author Mike Moriarty.

Click here to read the full 2014 African Retail Development Index.

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