X Team International Dallas-Fort Worth Partner Venture Commercial serves as master broker for retailer in aggressive U.S. expansion
DALLAS-FORT WORTH, TX, October 31, 2011—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, announced today that Dallas-Fort Worth-based partner Venture Commercial has completed leases for six Northern Tool + Equipment locations throughout the U.S. Kansas City-based partner Lane4 Property Group and Miami-based partner The Rotella Group assisted with two of the six deals. X Team International Partner Clay Mote of Venture Commercial, who is serving as master broker for Northern Tool + Equipment, made the announcement.
Northern Tool + Equipment has filled six second-generation boxes ranging in size between 15,000 and 16,000 square feet. Locations include the Mingo Marketplace Shopping Center in Tulsa, Okla., located at 10127 East 71st Street, where they will join Best Buy, Sports Authority, JCPenney and Bassett Furniture; 4661 Associated Court in Appleton, Wis., where they will join Michael’s; the Southern Hills Plaza in Oklahoma City, Okla., located at 1610 SW 74th Street, where they will join Dollar Tree, Aaron’s and Mill Creek Carpet; 2601 South Louise Avenue in Sioux Falls, S.D., where they will join HOM Furniture; Oak Park Commons in Lenexa, Kansas, located at 95th and Quivera, where they will join Sam’s Club; and I-95 and Atlantic Boulevard in Pompano Beach, Fla. Additional planned locations include Houston, TX; St. Louis, MO; Denver, CO and Birmingham, AL.
The retailer has signed 10-year leases in all locations. X Team Partner and Master Broker Clay Mote represented the retailer in the Tulsa, Appleton and Oklahoma City deals, while the landlords were represented by Mike Axelrod of Centro, Nick Tice and Thomas Hagedorn of Commercial Property Associates, Inc., and Pat Kelly of Phillips Edison, respectively. In Sioux Falls, Mote represented the retailer, and the landlord, HOM Furniture, was self-represented. In Lenexa, Mote and X Team Partner Tom O’Leary of Lane4 Property Group represented the retailer, while the landlord was represented by David Bayer of KC Commercial. In Pompano Beach, Mote and X Team Partner Steve Miller with The Rotella Group represented the retailer, while the landlord, Pompano Lincoln Industrial LTD., was self-represented.
“As Northern Tool’s master broker, it is my job to find highly visible, super regional locations, typically along freeways or major arteries,” said Mote. “We are aggressively entering multiple new states as a result of the success of our new 15,000-square-foot prototype stores. Depending on the market situation, Northern Tool + Equipment can be flexible on the space, from ground-up build-to-suits to retrofitting former Circuit City and Linens ‘n Things.”
Northern Tool + Equipment, a multi-channel retailer doing business via retail, web, and catalog, supplies tools and equipment to serious DIYers and contractors. The vast majority of customers are male, ages 35-64, and are homeowners. The Northern Tool + Equipment customer is a serious, hardworking, no nonsense blue-collar man who works in a variety of situations, in his job and at home. He is independent, self-sufficient, and resourceful. Major segments that Northern Tool services include trades such as automotive, agriculture, and construction, and consumers with interests such as woodworking, hunting and fishing, and home improvement.
X Team is an international alliance of retail real estate specialists with offices located in major cities throughout the U.S., Canada and Europe. X Team partners average more than 20 years of industry experience, with expertise in major markets worldwide, specializing in tenant, property and developer/landlord representation, workout services, property dispositions and retail investments. X Team services include transaction negotiation, portfolio analysis, lease valuations, acquisitions, and asset assessment and valuation. For more information, please visit www.xteam.net.
Venture Commercial Real Estate, LLC is a leader in retail brokerage services, with more than 17 million square feet of retail properties throughout Texas and more than 100 tenant representation accounts. Co-founded in 2000 by Mike Geisler and Ken Reimer, the company’s services include landlord and tenant representation, land sales, and disposition. The recently launched Venturetainment group provides strategic market planning and site selection for firms in the hospitality and entertainment industry. For more information visit www.venturedfw.com.
Based in Burnsville, Minn., Northern Tool + Equipment offers a wide selection of products from consumer goods to industrial and construction equipment to do-it-yourselfers, contractors and professional shops. For more information, please visit www.northerntool.com.