Archives for September 2016

By Marty Finley– Reporter, Louisville Business First
Sep 16, 2016, 3:18pm EDT Updated Sep 16, 2016, 3:43pm EDT

Louisville-based Hagan Properties Inc. has signed a long-term lease with the U.S. Postal Service after word came in May that the USPS planned to vacate Shelbyville Road Plaza by the end of the year.

Tommy Edwards, a retail leasing representative with Hagan Properties, declined to disclose the lease terms when reached by phone Friday, but he said the new deal will keep USPS at the center for several more years. The post office has had a presence at Shelbyville Road Plaza since the early 1970s. It operates a retail outlet and distribution services there.

Edwards said in a news release that the deal came together because the city of St. Matthews and local residents “voiced their desire that the USPS remain at Shelbyville Road Plaza.”

Edwards said the post office occupies more than 22,000 square feet of space at the nearly 400,000-square-foot shopping center, which is almost fully leased.

Negotiations appeared to break down between the two sides earlier this year, creating concern about USPS’ future commitment to the center. Talk had recently turned to USPS looking for alternate locations.

Edwards told us in May that he received a call from USPS representatives that the Postal Service would vacate its longtime home by Dec. 31. Edwards said the call came as the two sides were negotiating details of a long-term lease extension that just needed a signature.

And Susan Wright, a representative with the USPS corporate communications office, said at the time that USPS had not made a final decision to leave the center and was still interested in negotiating the lease.

USPS confirmed the lease agreement when reached Friday.
“We look forward to serving our many loyal customers at the St. Matthews Station on Shelbyville Road,” said Louisville Postmaster Joe Meimann in a statement.

Edwards said Hagan held out hope that USPS would stay in the space, but the company moved ahead in contacting potential retailers, restaurants and furniture stores that have expressed interest in the location in the past.

In other recent activity at the shopping center. Quest Outdoors recently opened an expanded store in the shopping center, taking the former Borders space.

Also, Carter’s Inc., the parent company of Carter’s, Osh Kosh B’Gosh and other baby and children’s apparel brands, opened a store at the shopping center this summer.

Edwards said Cyclebar, a premium indoor cycling franchise, is the latest tenant planned for the shopping center, taking about 3,000 square feet. He said it should be open by the end of the year.

By Marty Finley  – Reporter, Louisville Business First
Sep 15, 2016, 10:47am

A tenant has claimed a 13,000-square-foot retail building recently completed by Hagan Properties Inc. at Middletown Station, a large mixed-use commercial development on nearly 70 acres in eastern Jefferson County.

Tommy Edwards, a retail leasing representative with Louisville-based Hagan Properties, said Louisville-based Norton Healthcare Inc. is taking the entire building, which was constructed on more than an acre at 12955 Shelbyville Road. He did not disclose the lease terms.

The new space is along English Station Road, next to a building that houses a Feeder’s Supply Store. Construction costs previously were estimated at around $800,000.

Edwards said he thought Norton would move in early next year. But Norton public relations project manager Lynne Choate said it’s very early in the planning process and there’s no firm timeline.

Norton plans to relocate Kosair Children’s Hospital Medical Associates – Middletown from a smaller space it currently leases across the street.

“We want the additional space,” she said. Two doctors work in that pediatric practice, and both will move.

Middletown Station is anchored by a Wal-Mart Supercenter and Target store off Shelbyville Road near the Gene Snyder Freeway. Together, Target and Wal-Mart account for about 360,000 square feet of the shopping center, which has more than 600,000 square feet.

Middletown Station has multiple buildings that house a mix of restaurants, retailers and medical users.

And the development still has room for growth. Hagan Properties has the capacity, Edwards said, to add another 130,000 square feet of space to the development near Target if needed.

Edwards said he expects that Middletown Station, once completed, will have about 750,000 square feet of leasable space. Hagan has not indicated a timeline for additional construction there.

“We will construct it as the market demands,” Edwards told me late last year.

By Sheldon S. Shafer  – Courier-Journal
Sep 9, 2016, 2:39pm EDT Updated Sep 9, 2016 2:48pm

CycleBar, a business committed to improving physical fitness and featuring stationary bicycles, has signed a lease to open a store at Shelbyville Road Plaza.

The business is leasing 3,000 square feet of space in the retail center. CycleBar will probably be open in December next to Qdoba and near Trader Joe’s and Genesis Diamonds, said Tommy Edwards, retail leasing manager for Hagan Properties, which owns the shopping center on Shelbyville Road in St. Matthews.

CycleBar was founded in 2004 and now has about 75 locations. Promotions call CycleBar a luxury boutique fitness business. The typical outlet offers classes with trained instructors in a “cycle theater” with about 50 bikes and LED lighting, wide-screen graphics and music.

Studio amenities typically include free towels, showers, lockers and shoes. Membership is not required.

By Bailey Loosemore  – Courier-Journal
Sep 2, 2016, 6:03am EDT

Adventurers planning their next big trips are the perfect customers for Quest Outdoors’ newly-opened coffee shop: Base Camp Coffee.

Located within the company’s store at 4600 Shelbyville Road, Base Camp Coffee opened Friday as a meeting place for explorers and a pick-me-up station for residents heading to work in St. Matthews.

“I love the vibe coffee shops give out,” said Ryan King, who owns Quest Outdoors with his wife Michelle. “It’s a place where everyone comes together … I hope it makes money, but it’s already becoming what I hoped it would: a meeting place.”

The Kings have operated Quest Outdoors for 35 years and opened a store in the Shelbyville Road Plaza five years ago. In May, the couple consolidated its two other stores on Frankfort Ave. and in the Paddock Shops into a larger, nearly 30,000-square-foot location in the plaza.

The move gave the Kings more space to spread their products out, but it also gave them room to fulfill their dream of opening a coffee shop.

“Coffee’s something we’ve always wanted to do, but we didn’t have space or expertise,” King said.

With the perfect spot nailed down, King said he and his wife began searching for a local coffee roaster that could operate in the store. Quills Coffee was immediately interested, but King said rental agreements did not permit the coffee company to sublet. Instead, Quills employees offered to help the Kings plan a shop of their own.

“They provided the coffee, helped lay out the counter, we even bought our equipment through them,” King said. “… They’re very generous people.”

The Kings have since hired employees for the coffee shop who are also interested in the outdoors, so they can answer questions about both aspects of the business. However, King said the coffee shop is not for outdoorsy people alone. He also hopes the shop will attract people who want to learn more about various sports.

Once the shop gets off its feet, King said Quest will invite brands and local organizations to conduct presentations there.

The shop will carry fair trade products and items from local bakers. It will be open 8 a.m.-6 p.m., Monday through Friday, 9 a.m.-7 p.m., Saturday and 10 a.m.-5 p.m., Sunday – though hours could change.