X Team International Reports Western Region Third Quarter Transaction Volume
By: Identity Team
Activity highlighted by leases for Dick’s Sporting Goods and Bed Bath & Beyond
NEWPORT BEACH, Calif., December 16, 2009 — X Team International, an international alliance of retail real estate advisors with expertise in more than 45 major markets throughout the U.S., Canada and Europe, reported today that it brokered nearly $220 million in retail real estate transactions in the western region of the United States during the third quarter of 2009. X Team President Nelson Wheeler made the announcement.
X Team International’s western region is comprised of 10 offices in Seattle, Portland, Boise, San Francisco, Salt Lake City, Denver, Las Vegas, Los Angeles (2) and Vancouver, B.C.
Third quarter transactions totaled 172 separate leases of nearly $206 million and 28 property sales at $13.7 million.
Highlights from the third quarter include the expansion of mid-size retailer Dick’s Sporting Goods into empty box stores left from the bankruptcies of Linens ‘n Things and Circuit City. In the Portland-metro area to date, Dick’s has leased four stores totaling 232,828 square feet of space. Bed Bath & Beyond signed for 30,000 square feet in Palm Springs, Calif. Fast casual restaurant Chipotle signed two 3,000-square-foot leases in the Portland area including one in Clackamas Town Center, with further plans of expansion in 2010.
“The strong third quarter activity shows that retailers are taking advantage of historical low leasing and sale prices,” said Wheeler. “We look for even better things in 2010, as we continue to see modest signs of stabilization in the market.”
About X Team
X Team is an international alliance of retail real estate advisors with offices located throughout the U.S., Canada and Europe. X Team members average more than 20 years of experience, with expertise in more than 45 major markets, specializing in tenant representation, developer/landlord representation, retailer property dispositions and retail investments. X Team services include competition, market penetration and demographic analyses; site selection; transaction negotiation; site plan consulting; portfolio analysis; lease valuations; acquisitions; dispositions; asset assessment and valuation; and, due diligence support.
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