Heslin Holdings Closes on Former Babies R US, Colorado Springs, Colorado.
Heslin Holdings is excited to announce the latest acquisition of a 32,000 square-foot former Babies R Us located at 3555 Citadel Dr, S, Colorado Springs, Colorado along the busy street of E Platte Ave neighboring The Citadel Mall.
GlobeSt - "Denver Continues to be a Hot Apartment Market Even as Yields Shrink"
"Heslin Holdings—an investment firm that is planning to place $400 million in capital across commercial asset classes over the next 12 months—has been an active player in the Denver market..." Read the full article here.
Heslin Holdings, Inc Announces the Grand Opening of Dollar Tree in Oceanside Plaza in Oceanside, California
Laguna Hills, CA (June 4, 2019) – Heslin Holdings, Inc. a privately owned commercial real estate investment and development firm proudly announced the grand opening of Dollar Tree in their shopping center, Oceanside Plaza, located in Oceanside, California.
Heslin Holdings first acquired this 124,000-square-foot center in 2014 and has since made significant renovations to the former distressed center through lease ups with credit tenants, facade improvements, and pylon signage upgrades.
Dollar Tree now sits alongside other credit tenants such as: PepBoys Auto, MetroPCS, Rent-a-Center, KFC, and Children’s Paradise Early Education center with over 200 children enrolled.
Since the grand opening in May, Dollar Tree has proven to be a great addition to Oceanside Plaza currently bringing in a significant amount of traffic and an expected 200,000 additional customers to the center each year.
Founder and CEO, Matthew Heslin, visited the center since the opening of Dollar Tree and was pleased with the synergy of Oceanside Plaza. Heslin remarks that when visiting Dollar Tree this past weekend, he noticed that “Dollar Tree brings in a steady influx of customers,” later adding that “every parking spot in front of Dollar Tree was full.”
Oceanside Plaza is nestled amongst multiple developments in the City of Oceanside. Roughly one mile away from Oceanside Plaza, two beach resorts are already under construction, which consist of over 300 combined hotel rooms. Additionally, the City of Oceanside is expecting continued expansion through their five-block multi-family and hotel redevelopment with 231 residential units and 124 hotel rooms planned.
Heslin Holdings is thrilled with the current success of Oceanside Plaza and expects that the center will continue to grow and provide for multiple nearby schools, housing developments, Camp Pendleton military personnel, and the rest of the community of Oceanside.
About Heslin Holdings, Inc.
Founded in 2003, Heslin Holdings is a commercial real estate investment and development firm. The firm invests its own funds alongside a network of investors with varying investment criteria. Heslin Holdings and its affiliated companies oversee a real estate portfolio comprising 2.5 million square feet and over $1.2 billion in combined portfolio value. The firm is headquartered in Laguna Hills, California.
Heslin Holdings Appears in Recent News Regarding West Central Plaza in Albuquerque, New Mexico
Located in the heart of the SW Quadrant of Albuquerque, West Central Plaza is a 123,059 SF multi-tenant shopping center. At closing, the center was comprised of a vacant Kmart and several smaller shops and eateries.
West Central Plaza presented multiple value-add opportunities. Due to Albuquerque’s restrictions on constructing new retail spaces over 80,000 SF, West Central Plaza offered a unique opportunity to attract large national credit tenants while satisfying the strong, unmet demand for retail services in that undeserved area of the city.
Present Day: Heslin Holdings demised the former Kmart into two spaces, now occupied by Burlington and Conn’s Home Plus. The previous shop space on the Southwest part of the center has since been converted into Harbor Freight Tools. Heslin constructed an add-on next to the Burlington space, which Dollar Tree now fills. Lastly, the development team constructed a multi-tenant drive-thru pad on the corner which includes Panda Express and T-Mobile. To see the rest of the dramatic transformation, scroll to the gallery below.
Heslin Holdings has appeared in recent news! For further insight click on the articles below:
Albuquerque Journal: Renovations Give West Central Plaza New Life
Albuquerque Business First: California Firm Completes ABQ Shopping Center Renovation
Commercial Property Executive: Heslin Holdings Completes Retail Construction, Renovation
Connect Commercial Real Estate: Heslin Finalizes Albuquerque Retail Redevelopment
Rebusiness Online: Heslin Holdings Completes Redevelopment of West Central Plaza in Albuquerque
Retail Dive: Heslin Holdings Completes Construction and Renovation of West Central Plaza in Albuquerque, New Mexico
Shopping Center Business: Heslin Holdings Completes Redevelopment of West Central Plaza in Albuquerque
Heslin Holdings Announces Completion of Construction on West Central Plaza in NM
Laguna Hills, CA (May 14, 2019) – Heslin Holdings, Inc. a privately owned commercial real estate investment and development firm, announces the completion of construction on West Central Plaza, a 150,000-square-foot retail center in Albuquerque, New Mexico.
When Heslin Holdings first approached the site in 2015, the center consisted of a vacant 100,000-square-foot K-mart, a distressed pad, some mom-and-pop shop tenants, and an abandoned parking lot.
“When we looked around at the Albuquerque market, the statistics showed that Albuquerque in general was under retailed with 9-square-feet of retail per person as opposed to the 13-square-feet of retail per person nationally. This was especially true in the Southwest portion of the market where West Central Plaza is located,” said Casey Mckeon, Vice President of Acquisitions for Heslin Holdings.
Before West Central Plaza’s redevelopment, the only major retail that existed in the Southwest market was the shopping center across the street. The Southwest market was significantly under retailed due, in part, to the City of Albuquerque’s restriction on the construction of new retail spaces over 80,0000-square-feet.
Understanding the lack of retail and the prohibition on buildings over 80,000 square-feet, Heslin Holdings recognized the potential demand of big box retailers for an existing building of this size.
In April of 2015, Heslin Holdings acquired the center with plans to invest millions for the redevelopment of the property. Beginning with the former free-standing K-Mart, Heslin Holdings demised the building into two anchor spaces, now occupied by Burlington and Conn’s Home Plus. From there, the team built out an additional 17,000 square-feet of floor space adjacent to Burlington, with Dollar Tree occupying a significant portion. The former shop tenant building in the southwest part of the center was converted into a single tenant building for Harbor Freight Tools.
The team also constructed a multi-tenant drive-thru pad on the prominent corner of Atrisco and Central, which includes Panda Express and T-Mobile. Heslin Holdings worked diligently to redevelop and re-tenant the center completing their rapid redevelopment in early 2019.
Looking back at the project, McKeon remarked, “We took a once blighted, vacant shopping center and redeveloped the property to include over 150,000-square-feet of new retail tenants that provide significant sales tax dollars and numerous jobs to the local community. The diverse tenant lineup includes national credit tenants such as: Burlington, Conn’s Home Plus, Harbor Freight Tools, Dollar Tree, Panda Express, T-Mobile and Dunkin Donuts which combined create a first class shopping experience with something for every customer from food, hardware, grocery, soft goods and daily needs. We filled the unmet demand in the Southwest market of Albuquerque and are extremely proud of the finished product.”
To see more photos, view the full press release here.
Heslin Holdings Announces Commencement of Construction on Planet Fitness in Tigard, Oregon
Laguna Hills, CA (May 16, 2019) – Heslin Holdings, Inc. a privately owned commercial real estate investment and development firm, announced the commencement of construction of a new Planet Fitness in Tigard, Oregon.
The company first acquired this 50,000-square-foot box, formerly occupied by Haggen Grocery Store, in April of 2016 and is in the process of redeveloping it into two 25,000-square-foot spaces. Planet Fitness is scheduled to open later this year.
When Heslin Holdings first approached the former grocery box in Tigard Towne Square, the team recognized the undeniable value-add potential that this anchor space provided due to its desirable location and surrounding credit tenants such as Starbucks, Marshalls, Dollar Tree, and Rite Aid, to name a few. The team knew that a future fitness tenant in this space would not merely perform well, but flourish.
With construction underway on the 50,000-square-foot redevelopment, Heslin Holdings eagerly anticipates the grand opening of Planet Fitness to bring Tigard, OR access to an affordable, yet top-notch fitness experience.
Heslin Holdings Announces Grand Opening of Starbucks Drive-Thru in Huntington Beach, CA
Laguna Hills, CA (April 25, 2019) - Heslin Holdings, Inc. a privately owned commercial real estate investment and development firm, announces the grand opening of a Starbucks Drive-Thru in Warnerdale Square, a retail property in Huntington Beach, California.
The fast food tenant is the first one to open in the newly constructed multi-tenant drive-thru building on the Northeast corner of the center.
Close family, friends and the Mayor gathered to celebrate the soft-opening of Starbucks on April 24th with a ribbon cutting ceremony.
When Heslin Holdings first approached the project on the Southeast corner of Warner Ave and Springdale St, the center showed signs of neglect with vacancy and homelessness plaguing the former bank building.
Heslin Holdings formed a joint venture partnership with the existing owner and moved forward on bringing new life to the property.
In addition to the multi-tenant drive-thru building, Heslin leased the vacant middle pad to a Salon Suites concept and completed a significant facade renovation on the rear, U-shaped building.
Casey McKeon, VP of Acquisitions for Heslin Holdings and local “HB” resident, worked closely with the City of Huntington Beach to overcome multiple project hurdles.
The mayor of Huntington Beach, Erik Peterson, expressed his appreciation of the project saying, “The city of Huntington Beach is grateful for Heslin Holdings’ dedication to this project. This is a bright spot in our community.”
In the picture below, McKeon on behalf of Heslin Holdings receives an official commendation from Mayor Peterson of the City of Huntington Beach for the Warnerdale Square Renovation Project.
For McKeon, this project is close to home as he grew up working in his family owned butcher shop, The Beef Palace, across the street from Warnerdale Square. McKeon remarks, “This is what it’s all about. I am so proud and honored to have been able to contribute positively to my local community.”
It’s not just McKeon and the residents of Huntington Beach that are excited about this unique project, the Director of Real Estate at Starbucks expressed appreciation as well. Charlie Arbing III, Real Estate Director of Starbucks, wrote, “Thank you Casey for everything. This is the first Starbucks drive-thru West of the 405 on Warner. It took forever to find a site, but you did, for us.”
The Heslin team is thrilled with the outcome of the project and looks forward to seeing the lasting impact it will have on the surrounding community.
Heslin Holdings' Affiliate Company, Oak Coast Properties, Completes Major Portfolio Buy
Frequent partners Los Angeles-based Oak Coast Properties and BMC Investments of Denver have added 1,023 units to the partnership’s portfolio in a multifamily deal valued at $177 million.
The acquisition of the “Ivy Crossing” portfolio marks the ninth and largest transaction undertaken by the Oak Coast-BMC partnership.
Newmark Knight Frank, which represented the undisclosed seller, states that the deal involves largest number of units in a single trade and the largest multi-family transaction by dollar volume in metro Denver since September 2016 sale of The Breakers.
Heslin Holdings Continues Tucson Buying Spree with Babies 'R' Us for $3.4 M
TUCSON, ARIZONA -- Heslin Holdings, Inc. a privately owned commercial real estate investment and development firm, purchased a second big box for redevelopment recently in Tucson. In October, we reported Helsin acquired the 35,000-square-feet former Safeway building at 5548 E Grant Road in Tucson.
The following month, Heslin purchased a second big box store, the former Babies“R” Us at 4619 N Oracle in Tucson for $3.4 million ($92.48 PSF). The 36,763-square-foot property on 2.59 acres was sold by Wells Fargo Commercial Mortgage Service that bought it out of bankruptcy for $2,631,644.
Heslin Holdings Announces the Retail Acquisition of Former Babies 'R' Us
Laguna Hills, CA (November, 2018) - Heslin Holdings, Inc. a privately owned commercial real estate investment and development firm announced the retail acquisition of a former Babies R Us box in Tucson, Arizona. The developer plans to repurpose the building with an expanding national tenant.
The 37,000 square-foot big box sits across from the Tucson Mall, the largest shopping mall in Tucson, AZ. The site lies in a prominent retail corridor among several notable national tenants such as Target, Home Depot, Lowe’s, Chick-fil-A, In-N-Out and others.
After a short-term close and quick money release, Heslin acquired the asset at $3.4 million with an all cash closing. This is Heslin’s second acquisition within 30 days as part of their investment strategy to deploy $75 million towards retail assets over the next year.
This acquisition quickly follows on the heels of Heslin’s most recent acquisition of a former Safeway box in Tucson, AZ. These two recent acquisitions reflect part of Heslin’s investment strategy to repurpose vacant big box stores as the retail market evolves. With another acquisition completed, Heslin is excited to move closer towards their $75 million investment goal.
