Wednesday, September 28, 2011
If I were a betting man, I’d put money on this trio.
|Look for more changes to Grand Marche, home to a successful Gatti Town, in 2012.|
If you’ve ever bet on a horse race, you probably know that some people win more often than others. But do you know why? The Daily Racing Form (clever name) updates every day and is loaded with critical and current details to aid bettors in handicapping. While the horses are key, there are many other important factors in horse racing. Owners, trainers, jockeys, veterinarians, weather and track conditions are all as integral to victory as the horses themselves.
Site selection is a lot like picking good horses. Unlike horses though, locations have a much longer potential life cycle and can defy the handicappers’ odds and finish strong.
I’m sure you’ve often wondered why a particular business has failed when another one like it has enjoyed tremendous success. I have been in the commercial real estate business for 20 years now, and I still find myself trying to figure out the most successful formulas. As sites and facilities have become more expensive, the site selection process in corporate America has become more precise and scientific. Demographic information is now updated quarterly, and analysis is becoming increasingly complex. And yet, businesses still fail — even those in good locations. There are three new bets coming to town. All are recent notable commercial transactions that I believe possess “come from behind to win” characteristics.
• Gatti Town in Grand Marche Shopping Center on Johnston Street. Located in one of Lafayette’s oldest retail centers, the Gatti space has frequently been referred to as a bad location. Two pizza concepts failed there, but both were under the same ownership and management (bad jockey and trainer). So let’s look at the earlier history of the space. Wal-Mart first occupied it and sold enough goods to justify moving into a new Super Center on Ambassador Caffery. Next came Academy Sports and Outdoors. Its sales were so good that it built, also on Ambassador, what at the time was the largest store in the country. That Academy now ranks as the top store in sales among its approximately 140 locations in the southeastern U.S.
Gatti Town, the superstore version of Mr. Gatti’s Pizza, is well managed and, according to commercial broker Ryan Pécot of Stirling Properties, the location’s sales are very strong. Also, look for new and interesting changes at Grand Marche Shopping Center in 2012.
• Serranos Salsa Company, f/k/a Booty’s and before that Toucan’s, on Johnston at Doucet Road. I think this is a great restaurant site that has suffered from very poor ownership and management in its first two lives. The Serranos concept never seemed to gain traction in Lafayette and was eventually closed, with the facility being held by the same ownership until now. The good news is that Lafayette diners will soon have a new restaurant with longtime LaFonda General Manager Gabo Bako welcoming customers at the door. Another of Pécot’s deals, this is expected to be an instant hit and “new tradition” with Lafayette diners.
• Southern Structures facility at 916-920 Young Street in Youngsville. Acadiana people remember the days when Southern Structures was a bustling company that ranked among Acadiana’s largest employers. After changing hands more than once, the company filed for bankruptcy and ceased operations. Sitting vacant for 2-plus years, FM Bank sold the industrial property to Schilling Acquisitions, headed by Herbert Schilling and represented by attorney Tim Ryan of Williams, Anderson & Ryan. Real estate brokerage was handled by Sam Robertson and Art Barry of Sam Robertson Real Estate and Hammy Davis of Coldwell Banker. The property is situated less than two miles from U.S. Hwy. 90 and contains two industrial buildings (20,000 square feet and 149,000 square feet) and one 11,000-square-foot office building. The 20,000-square-foot building was recently leased to an industrial supply company, and plans are being finalized for the larger industrial building and the office building.
We should all be excited to have these properties back in commerce. Two are providing jobs and dining and entertainment for our community and the other offers existing companies the ability to expand and could potentially attract new industry to Acadiana, adding to our tax base and creating employment opportunities in our area. If I were a betting man, I’d put my money on all three to win.
Monty Warren is vice president and partner of Beau Box Commercial Real Estate, which has offices in Baton Rouge, Lafayette and New Orleans. Warren, based in the Lafayette office, has two decades of commercial real estate experience.
Tuesday's Blogs from the Bog!
Stoned driving a concern when pot is legal; Detroit's bankruptcy trial; speed trap scandal in Florida and more national and international news for Tuesday, September 02, 2014.
A federal jury found attorney Daniel Stanford guilty Friday afternoon on eight of 13 counts for his role in the Curious Goods conspiracy.
Lafayette City-Court Judge Francie Bouillion has served on the bench for two decades since winning a special election to replace Judge Kaliste Saloom when he retired in 1994.
The Houston firm said Friday in its weekly report that 1,575 rigs were exploring for oil and 338 for gas. One was listed as miscellaneous. A year ago there were 1,776 active rigs.
A crew began erecting the 25-foot mini-wheel late morning Friday in anticipation of the evening’s Hottest Night of the Year party at the park.
Frances Boothe of Nunez, who also happens to be filmmaker Stephen Meaux’s grandmother, prepares a cool-weather fave.
The magazine's senior football writer also predicts a break-out year for Saints fourth-year running back Mark Ingram.
New Iberia colonial or Broussard traditional home
The LPSB is poised and ready to move forward with the termination of Pat Cooper following a discussion Thursday with the attorney hired for the investigation of the superintendent, but a decision of this magnitude should be left up to the new board seated in January, especially with three pro-investigation board members bailing out come the new year.
Fiery style for game day
Acadiana's nightlife guide.
Gulf Coast ceremonies marking the ninth anniversary of Hurricane Katrina have begun.
The Louisiana Department of Wildlife and Fisheries says there is little known about the effects of tiger prawns on indigenous Louisiana shrimp. But, officials say the reports they're seeking will help state biologists monitor the distribution of the prawns and determine the possible presence of spawning populations.
Baltimore Ravens coach John Harbaugh rested his regulars and watched with delight as Ray Rice's backups ground out 214 yards rushing in a 22-13 victory over the New Orleans Saints on Thursday night.
High-profile criminal defense attorney Daniel Stanford awaits his fate in the Curious Goods conspiracy trial.
The Louisiana Department of Wildlife and Fisheries is set to put the kibosh on the legal ownership of monkeys trained to help the disabled, and the agency wants to know what you think.
A federal judge on Thursday asked lawyers battling over Louisiana's new, restrictive abortion law for an agreement that apparently could let clinics stay open — at least for a while — after the law takes effect Sept. 1.
Three bedroom Port Barre cottage or three bedroom historic district Opelousas home
No laboring for shoppers this holiday
It will be next month before Gov. Bobby Jindal will likely get a chance to change the membership of a South Louisiana flood board that is suing dozens of oil, gas and pipeline companies.
Acadiana's nightlife guide.
An abortion rights organization wants a federal judge to block enforcement of Louisiana's new abortion law while its lawsuit to overturn the law makes its way through court.
Republican presidential prospects Ted Cruz and Bobby Jindal are planning to speak at an Iowa Christian conservative event in September.
The attention surrounding Victor White III has spiked with the release of last week’s autopsy report, which has raised a number of serious questions about the night of his death and has put the Iberia Parish Sheriff’s Office under an increased wave of scrutiny as more national media outlets are jumping on the story, most recently seen on MSNBC's The Rachel Maddow Show.
The Acadiana Center for the Arts and the Lafayette Economic Development Authority have announced a new artist stipend program, ArtSpark, designed to offer financial aid to local artists.
A group supporting taxpayer-funded private school tuition vouchers is appealing a federal judge's order that Louisiana must provide regular reports to federal officials on the state's voucher program.
The Discovery Channel has canceled reality TV star Will Hayden's popular "Sons of Guns" show after his arrest on an aggravated rape charge.
The LPSB will finally hear from the attorney it hired to investigate the superintendent at a special meeting Thursday at 4 p.m.
Three bedroom traditional or two bedroom Victorian cottage