Construction Update: 117 Clinton Avenue!

Downtown Huntsville is evolving day-by-day, and we are always excited to share some of the progress that’s happening behind closed doors.

In February, we announced that the historic 117 Clinton Avenue building would undergo a major renovation and transform into Clinton Row’s next retail or dining experience. Construction crews have been hard at work, and the property has already taken on a new look inside.

Several walls have been removed, opening up the space and setting the stage for a truly unique shop or restaurant. A new rustic vibe has been introduced with the exposure of brick walls. And any built-in shelves, desks, and other décor from the property’s days as an office are gone.

Of course, this is just the beginning of the transformation! There’s a lot of construction still on the way. Here are some before and after images of the project so far.

BEFORE.

AFTER.

BEFORE.

AFTER.

117 Clinton will be a unique, urban atmosphere for its next tenant and be situated near many of Downtown’s major hot spots like The Garage at Clinton Row, the Clinton Row Shops, The Avenue retail shops, and the recently announced 106 Jefferson: A Curio Collection by Hilton boutique hotel.

If you’re interested in leasing this incredible space, contact us by email at info@crunkletonassociates.com or call us at 256-536-8809. Find the listing for this property here.

Be sure to stay tuned to our blog as we share more updates on 117 Clinton!

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haley_squareHALEY CLEMONS
MARKETING COORDINATOR
CRUNKLETON COMMERCIAL REAL ESTATE GROUP
HALEY@CRUNKLETONASSOCIATES.COM

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Curio By Hilton Hotels Coming To Downtown Huntsville!

(Historic downtown property to be redeveloped as Downtown Huntsville’s first boutique hotel: 106 Jefferson.)

Crunkleton Commercial Real Estate is proud to announce that historic 106 Jefferson Street is being redeveloped to house Downtown Huntsville’s first full-service boutique hotel. The former Hale Brother’s Furniture site will soon be the location of 106 Jefferson Hotel, A Curio Collection by Hilton. An upscale soft brand within Hilton’s portfolio, Curio currently has more than 50 unique hotels throughout six continents. Construction for 106 Jefferson is slated to begin in the fourth quarter of 2018.

Situated one block from the city square, 106 Jefferson will be in the center of downtown’s business, retail and entertainment districts. Guests will have immediate access to Huntsville highlights such as The Garage at Clinton Row retail center, The Avenue shops, Big Spring Park, CityCentre at Big Spring, Von Braun Civic Center, the Huntsville Museum of Art and much more. 106 Jefferson will be the third Curio hotel to enter the Alabama market with existing locations in Birmingham and Mobile.

“Expanding the Curio collection to Huntsville will not only fill a void for upscale accommodations but also offer a venue for corporate events and conferences, elegant dining and social gatherings,” said Wesley Crunkleton, principal at Crunkleton Commercial Real Estate and co-developer of 106 Jefferson. “Its strategic location makes it the ideal destination for travelers who are looking for an authentic Huntsville experience with easy access to downtown hot spots. We look forward to bringing new life to this historic property and creating an exceptional getaway.”

The proposed hotel will be a convenient option for both leisure travelers and business professionals. 106 Jefferson’s six-story downtown location will feature 117 guests rooms, a full-service restaurant, best-in-class amenities, meeting rooms and rooftop bar on the 7th floor.

106 Jefferson will introduce an unmatched level of service, quality and luxury to the market while delivering a one-of-a-kind experience for visitors,“ said McLean Wilson, principal at Kemmons Wilson Companies and co-developer of 106 Jefferson. “We are thrilled to offer our skills and hospitality experience to Huntsville for this exciting project.”

Redevelopment of the historic property will utilize an experienced team of collaborators led by Crunkleton Commercial Real Estate and Kemmons Wilson Companies as co-developers. Memphis-based Bounds & Gillespie will serve as architects for the development, and the award-winning Valor Hospitality Partners, whose expertise has been recognized by Condé Nast Traveler and other key players in the tourism industry, will handle management of the new hotel.

For more information on the news of this release, contact Crunkleton Commercial Real Estate’s Marketing Coordinator Haley Clemons at haley@crunkletonassociates.com.

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Make sure you’re staying on top of the latest trends, newest developments and hottest new stores in Huntsville by subscribing to our weekly blog updates!

haley_squareHALEY CLEMONS
MARKETING COORDINATOR
CRUNKLETON COMMERCIAL REAL ESTATE GROUP
HALEY@CRUNKLETONASSOCIATES.COM

Enjoy A Game Of Putt-Putt On The Square—“Downtown Open” Returns This Thursday!

It’s that time of year again! Grab your friends and head over to the historic downtown square to enjoy a free, family event that has been a crowd favorite for the last five years. The annual Downtown Open: Putt-Putt on the Square event is back, and we are excited to share that we are the presenting sponsor for 2018.

A creative urban putt-putt course, the Downtown Open will include 32 holes of golf situated at key spots throughout the neighborhood. Each unique hole is designed and sponsored by a local business so each stop on the course will bring new challenges, features, and fun.

And yes, Crunkleton will have a putt-putt hole on the course this year! We will be situated at spot #19 in front of Sam & Greg’s Pizzeria on the Northside Square. If you drop by, be sure to share a photo with us using the hashtag #SeeHuntsville, because we will be sharing our favorites on our Instagram feed.

Participants can choose to bring their own putter and golf ball or borrow them from Harrison Brothers Hardware, Sam & Greg’s Pizzeria, or UG White Mercantile. They will also give you a free scorecard so you can enjoy some friendly competition with your group. But remember, you can only borrow supplies during each shop’s normal business hours. If you plan to putt later in the evening, be sure to bring your own.

Open 24/7, the Downtown Open officially begins June 14th (this Thursday) and will last until June 24th.

For more information on the event and to RSVP, be sure to visit the Facebook event page here!

And if you want to make sure to visit every spot on the course, check out the image below.

We can’t wait to see you there!

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Make sure you’re staying on top of the latest trends, newest developments and hottest new stores in Huntsville by subscribing to our weekly blog updates!

haley_squareHALEY CLEMONS
MARKETING COORDINATOR
CRUNKLETON COMMERCIAL REAL ESTATE GROUP
HALEY@CRUNKLETONASSOCIATES.COM

Crunkleton’s Retail Team Shares A Recap of ICSC 2018

Recently, two of our brokers traveled to Las Vegas to attend the annual International Council of Shopping Centers (ICSC) conference in Las Vegas. Anusha Alapati and Zac Buckley specialize in retail leasing here at Crunkleton and took the opportunity to share a recap of the event and discuss all major updates affecting the retail leasing industry.

RECon in Las Vegas is the largest commercial real estate conference in the world focusing on deal-making and the discovery of new, exciting concepts. This year, an estimated 37,000 retail specialists and industry leaders met for the annual three-day event to showcase trends in the market. Despite what one may hear in regard to concerns about the uncertainty of retail, the conference was packed with attendees, fresh ideas, and a positive atmosphere. It is clear that the retail real estate industry is going through major changes, many of which will affect the face of retail and the shopping experience for years to come.

Here are a few key takeaways from the event:

Restaurants are Becoming Anchor Tenants

Historically, restaurants were considered an added amenity in shopping centers and were limited in proportion of the property—mainly due to the parking requirements and the inherent issues involving prep and disposal of food. Now, restaurants are often considered the anchor tenants of developments, occupying 20-40 percent of shopping centers compared to 10-15 percent ten years ago.

Landlords now consider restaurants the ideal tenant because they are historically strong traffic drivers to centers, meaning guaranteed regular customer visits. It’s interesting to watch restaurants themselves shift to providing experiential elements: unique aesthetics, Instagram-worthy food, communal seating, and other interactive features that millennials crave.

Experiential Retail is Key

Retailers have to adapt to remain successful and competitive in the e-commerce era. However, customers are still searching for social and experiential elements, which can typically be found in visiting the physical store. Retailers are recreating stores to provide one-of-a-kind experiences, such as classes, events, demonstrations, etc.

The overall mindset is shifting from simply moving a product to developing an experience. It’s clear that today’s customer needs to feel as if the store is adding value beyond simply providing the merchandise. Landlords are also getting into the experiential game by backfilling vacant spaces with entertainment concepts and using vacant land, not for another building, but for a park, playground, putt-putt, etc.

Pop-Ups to Test Concepts

Pop-up locations are gaining popularity in developments due to smaller, local retail brands that are looking to grow. With the rise of local vendors from Etsy, Instagram, and Shopify, more concepts want to experiment with brick-and-mortar but are hesitant to make a large investment. Pop-ups allow these retailers to test out their concept or idea in a brick-and-mortar environment before entering into a longer-term lease. The landlords benefit because pop-up tenants create excitement and something different regularly for the development.

If properly curated, pop-ups can draw more traffic or new traffic to the center, which in turn creates additional traffic for the permanent tenants. In many cases, pop-ups are so pleased with the turnout they decide to open up a brick-and-mortar location.

Online-only Retailers Opening Physical Stores

Although retail has become increasingly digital, most shopping still takes place in stores. Online-only retailers are opening brick-and-mortar stores to interact with their clientele and to enhance the customer experience. For example, Warby Parker and Bonobos, both historically online-only retailers, opened physical stores so customers can actually try on products. This allows them to focus on customer service over inventory management.

Going Local

Lastly, in speaking with landlord and developers from across the country, one thing was clear: the make-up of tenants in their developments are becoming more and more local. Typically called “mom-and-pop” retailers, these local concepts and owners are becoming the backbone of successful shopping centers. Less and less focus is being placed on large, national “credit” tenants as landlords strive to credit a strong tenant mix that appeals to all types of shoppers in their trade area. Local tenants often bring a fresh look, brand, and experience to developments that national retail can’t provide. We believe this trend will continue into the foreseeable future.

For more information on ICSC, be sure to visit the official website here. What changes are you noticing in the retail industry? Let us know in the comments!

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Zac Buckley
VP of Leasing
Crunkleton Commercial Real Estate Group
ZAC@CRUNKLETONASSOCIATES.COM

 

Anusha AlapatiAnusha Alapati
Associate Broker
Crunkleton Commercial Real Estate Group
ANUSHA@CRUNKLETONASSOCIATES.COM