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Thursday, 1 October 2009
Smoothie King arrives in Durham: A "Target Your Space" Case Study
NAME OF CLIENT
Smoothie King
LOCATION
Hope Valley Commons
1125 W. NC Hwy 54
Durham, NC
PROJECT OUTLINE
Hope Valley Commons is an upscale, mixed-use specialty project featuring about 100,000 square feet of office and retail space and anchored by Harris Teeter. The project is located at the intersection of Highway 751 and Highway 54 in Durham, NC—just minutes away from Streets at Southpoint Mall, with excellent access from Interstate 40. Income levels and spending indicators are very strong near this site. 2005 population estimates total over 43,000 people within 3 miles of the site, with an average household income in excess of $84,000. Within five miles of the site, the 2005 population estimates total over 111,000 people with an average household income in excess of $77,000.
Grubb & Ellis|Thomas Linderman Graham was contacted by Smoothie King to research locations for the company’s second juice-bar franchise in the Triangle. The franchisee was looking for a location that would provide the most visibility and access to Smoothie King customers.
SERVICES PROVIDED
Shane worked with CLLESS Investments and assisted them with market segmentation, site selection, and LOI negotiation. Shane also acted as liaison and facilitated communication between the franchisee and Smoothie King’s corporate office.
VALUE ADDED BY SHANE BULL
• Conducted extensive property research and location analysis based on client need.
• Provided thorough demographic reports analyzing customer reach and target audience base.
• Assisted in Letter of Intent (LOI) negotiations and provided additional financial and insurance resources.
• Provided after-sale services including local and national publicity.
CLIENT TESTIMONIAL
“On behalf of CLLESS Investments, LLC, we thank you for the excellent service you have provided our company in the search for an ideal Smoothie King site location. We are most appreciative of your level of professionalism along with your thoroughness and detail in the site selection process. We understand your job is to assist us in finding the most ideal location based upon your experience; however, our assurance has been boosted by the level of integrity and sincerity you portray. Thanks for your continued excellent support and advice.” – Clarence Lewis, Operations Manager, CLLESS Investments d/b/a Smoothie King
I was impressed with Shane's integrity and personality. He is a people person and the type of guy who can relate to you on a personal level. Shane is truly a down-to-earth and honest guy with nothing but good intentions.
Sharif Hatoum
Owner
Still Life
Grubb & Ellis|Thomas Linderman Graham is a leading provider of commercial real estate services in the Triangle Area (Raleigh, Durham and Chapel Hill) of North Carolina. The company offers a comprehensive menu of services that includes Landlord and Tenant Representation, Asset and Property Management, Investment and Building Sales, Land Acquisitions and Sales, Corporate Consulting, Finance and Accounting and Investor Development Services.