Denver Business Journal, By Paula Moore
John Fuller has split from the Denver commercial real estate company he started 55 years ago because of Fuller Real Estate’s new affiliation with a national brokerage firm.
Fuller said he doesn’t want to be in the national real estate business, so he’s resigned from Fuller Real Estate, sold his stock in the company and acquired full ownership of the Fuller Western Real Estate LLC ranch brokerage firm. He declined to reveal terms.
The veteran Denver commercial broker also is adding local commercial real estate sales and leasing services at Fuller Western, and hiring seasoned brokers for that venture.
“My vision is to keep Fuller Western as a boutique firm, serving clients we have served for many years,” said Fuller, who’s now chairman and CEO of Fuller Western. He founded the company in 1994.
Fuller decided to leave his former company, which he no longer controlled, because of Fuller Real Estate’s recent affiliation with St. Louis-based Cassidy Turley, a national provider of commercial real estate services. With that deal, the firm now is Cassidy Turley Fuller Real Estate, and uses Cassidy Turley branding.
“The old company is losing its identity, including the black-and-white Fuller logo … We have the Fuller brand, the name, and we want to build on that,” John Fuller said.
Greg Morris, Fuller Real Estate’s CEO for 15 years, continues as president/CEO of Cassidy Turley Fuller. When the affiliation was announced Aug. 9, Morris said in a statement that it allows his company “to take advantage of [Cassidy Turley’s] national platform and international reach … while still remaining Denver based and employee owned.”
Fuller expects to hire six to eight commercial brokers at Fuller Western. One of Fuller’s first hires was his son, John Fuller Jr., a longtime broker at Fuller Real Estate handling office, industrial, retail, land and investment properties. Another son, Burt Fuller, is Fuller Western’s president and chief operating officer; he formerly was vice president of operations there.
Veteran Denver-area commercial broker Bob Leino, who formerly was with what’s now Fuller Real Estate and has had his own company, started with Fuller Western the week of Aug. 27.
Fuller Western has relocated its main office from Cassidy Turley Fuller’s headquarters, at the Park Central building in downtown Denver, to 7901 Southpark Plaza in Littleton. The ranch brokerage, which owns the Littleton building, also has a satellite office in La Veta.
Fuller and late partner Al Strauch started Fuller Real Estate, as Fuller and Co., in 1955 as one of metro Denver’s first commercial real estate firms. Through the years, the company added branches such as Fuller Management Services, residential brokerage Fuller Town & Country Properties and Fuller Western. The companies built the total staff to 300 people and annual gross revenue to $2 billion by the mid-2000s.
“In building a company, John surrounded himself with bright, competent people,” said John Bitzer, partner at Bitzer Real Estate Partners in Denver and former managing broker at Fuller and Co. “He knew he couldn’t do it all.”
The company changed its name to Fuller Real Estate in 2006, and sold Fuller Town & Country to Sotheby’s International Realty in 2008.
Large, national commercial real estate firms have gotten bigger and more global in recent years through mergers and acquisitions. To compete with that growth, locally owned firms such as Fuller and the Frederick Ross Co. have formed alliances with networks.
Fuller previously was associated with NAI Global, a Princeton, N.J.-based network of independent commercial real estate firms with operations in more than 50 countries.
The Denver company dropped its relationship with NAI to form a closer alliance with Cassidy Turley, details of which haven’t been revealed.
Cassidy Turley formally launched in early 2010, and is the combination of eight firms that broke away from Colliers International, Grubb & Ellis Co. (NYSE: GBE) and NAI Global.
The new company has more than 60 offices across the country, and its founding firms did more than $13 billion in real estate deals in 2009.
Sunday, August 29, 2010
Friday, August 20, 2010
Cherry Creek Mall Milestone
Now in its 20th year, the shopping center remains a huge draw
By Rita Wold
The Denver Post
Age is just a number for Denver’s Cherry Creek Shopping Center, whose allure for shoppers and tourists appears as strong today as at its inception.
Today marks the 20th anniversary of the opening of the mall that replaced a 1950s-era shopping center. And although outdoor shopping centers have become the hot new trend for retail development, the center remains the dominant shopping center in a six-state region.
Over the years, the center also has remained the No. 1 or No. 2 tourist destination in Denver, said Rich Grant, communications director for Visit Denver, the city’s convention and visitors bureau.
About 20 percent of the Cherry Creek mall’s transactions come from out-of-town visitors, said Nick LeMasters, general manager of the center.
“There’s a lot of wealthy people in the states around us, and there’s not a place like Cherry Creek,” Grant said. “A lot of people do shop.”
Cherry Creek aims to maintain its relevance to shoppers by having the right mix of products. To do this, LeMasters said, merchants are reevaluated annually, and targets are set to attract retailers that are in high demand.
Seven new stores have recently opened or are set to open soon, including Façonnable, a high-end French retailer, and the first S.A. Elite, a new format from Sports Authority that sells high-performance apparel.
“This center is a powerhouse of business,” said Cynthia Petrus, fashion director of the center’s Saks Fifth Avenue. “This is an extremely competitive place.”
The center includes about 1.1 million square feet of space with more than 160 shops. It houses boutiques unique to both the region and the nation. For example, Denver-based Classic Creations Eyewear opened its doors along with the mall 20 years ago and remains the only one of its kind.
“We’ve been successful here,” said Ray Ressin, the store’s owner. “We have a very loyal customer base that keeps us going even through tough times like these.”
Nordstrom joined the lineup at Cherry Creek in 2007 after years of trying to garner a spot that would be conducive to its needs.
The Cherry Creek location has exceeded expectations, said Dan Jones, general manager of the center’s Nordstrom.
“We had been looking for ways to better serve our Denver-area customers and knew this was a premier shopping destination that we needed to be a part of,” he said.
Many things have changed since the center first opened its doors.
Originally, jewelry and apparel were the primary shopping categories, LeMasters said. But recently, trends that have come to dominate include electronics and home furnishings.
The age of the shopping center comes as a surprise to many shoppers because of its appearance, LeMasters said.
“To be 20 years old and to perhaps still look like a teenager is a compliment,” LeMasters said. “We feel like we have a lot to celebrate right now.”
By Rita Wold
The Denver Post
Age is just a number for Denver’s Cherry Creek Shopping Center, whose allure for shoppers and tourists appears as strong today as at its inception.
Today marks the 20th anniversary of the opening of the mall that replaced a 1950s-era shopping center. And although outdoor shopping centers have become the hot new trend for retail development, the center remains the dominant shopping center in a six-state region.
Over the years, the center also has remained the No. 1 or No. 2 tourist destination in Denver, said Rich Grant, communications director for Visit Denver, the city’s convention and visitors bureau.
About 20 percent of the Cherry Creek mall’s transactions come from out-of-town visitors, said Nick LeMasters, general manager of the center.
“There’s a lot of wealthy people in the states around us, and there’s not a place like Cherry Creek,” Grant said. “A lot of people do shop.”
Cherry Creek aims to maintain its relevance to shoppers by having the right mix of products. To do this, LeMasters said, merchants are reevaluated annually, and targets are set to attract retailers that are in high demand.
Seven new stores have recently opened or are set to open soon, including Façonnable, a high-end French retailer, and the first S.A. Elite, a new format from Sports Authority that sells high-performance apparel.
“This center is a powerhouse of business,” said Cynthia Petrus, fashion director of the center’s Saks Fifth Avenue. “This is an extremely competitive place.”
The center includes about 1.1 million square feet of space with more than 160 shops. It houses boutiques unique to both the region and the nation. For example, Denver-based Classic Creations Eyewear opened its doors along with the mall 20 years ago and remains the only one of its kind.
“We’ve been successful here,” said Ray Ressin, the store’s owner. “We have a very loyal customer base that keeps us going even through tough times like these.”
Nordstrom joined the lineup at Cherry Creek in 2007 after years of trying to garner a spot that would be conducive to its needs.
The Cherry Creek location has exceeded expectations, said Dan Jones, general manager of the center’s Nordstrom.
“We had been looking for ways to better serve our Denver-area customers and knew this was a premier shopping destination that we needed to be a part of,” he said.
Many things have changed since the center first opened its doors.
Originally, jewelry and apparel were the primary shopping categories, LeMasters said. But recently, trends that have come to dominate include electronics and home furnishings.
The age of the shopping center comes as a surprise to many shoppers because of its appearance, LeMasters said.
“To be 20 years old and to perhaps still look like a teenager is a compliment,” LeMasters said. “We feel like we have a lot to celebrate right now.”
Friday, August 13, 2010
New deals with Legend Retail Group
John Eliot of Legend Retail Group recently represented Marshalls for a 26,000 s.f. store in the Park Meadows area going in to the South Denver Marketplace. The lease was signed in late July. Other great tenants in the center include Best Buy, Nordstrom Rack, BC Sports and David's Bridal.
Also at Legend, David Larson picked up the Carter's Clothes tenant rep account this week.
Stay tuned for more from Legend Retail Group.
www.legendretailgroup.com
www.twitter.com/LegendRetail
Friday, August 6, 2010
A fifth for SmartCo Panera opens at University Hills
SmartCo Foods completes its mission of opening five new Colorado locations this summer with the Littleton store on Wednesday.
The 42,000-square-foot store at 3615 West Bowles Ave. will be run by store manager David Crookston, who has 17 years of grocery industry experience with companies such as Sunflower Farmers Market, Wild Oats and Reay’s Ranch Markets.
“SmartCo Foods is thrilled to open our fifth store in Littleton, offering shoppers a new, smarter, more economical and convenient way to shop for their home or business,” said Crookston in a statement. “We’re overwhelmed by the excitement and support from the Littleton community in welcoming our unique grocery store concept to the neighborhood and look forward to being a part of this community for many years to come.”
SmartCo bills itself as a hybrid of a local supermarket, warehouse club store and a farmer’s market.
The Aug. 4 grand opening starts at 6 a.m., and SmartCo is giving gift cards randomly valued from $20 to $100 to the first 250 customers. There will be kids activities, live entertainment and more.
During the grand opening week, the company will make $2,500 donations to the Littleton Public Schools and the Women’s Bean Project.
“As SmartCo Foods’ new Littleton store manager, I’m committed to supporting the local community, delivering quality food and products at excellent values, and providing top-notch customer service,” Crookston said.
SmartCo opened in Greenwood Village in June and the Centennial store opened July 28.
The other two Colorado stores are 5141 Chambers Road in Denver and 1750 North Main St. in Longmont. SmartCo Foods reported it plans to significantly expand its presence in Colorado over the next few years, opening an additional 20 to 25 stores.
The Littleton SmartCo Foods will be open from 6 a.m. to 11 p.m. daily.
U. Hills gets a Panera
Panera Bread opens its 28th Colorado restaurant Aug. 11 in the University Hills shopping center.
The 2466 S. Colorado Blvd. location is the second Colorado restaurant to feature a drive-through window.
Panera Bread's new University Hills location. [Credit: Panera Bread]
“We look forward to serving customers in the University Hills area with our new bakery-cafe and drive-thru and becoming a greater part of the community,” said Craig Flom, regional operating partner of Colorado Panera Bread, in a statement.
During the grand opening celebration, some customers will receive mystery gift cards and a free cinnamon crunch bagel.
Throughout the year, the new Panera Bread will support local community organizations such as Food Bank of the Rockies, officials said.
“We feel strongly about being a responsible corporate citizen and plan to support University Hills-area events, fundraisers and other charitable efforts on an ongoing basis,” Flom said.
Known for its fresh-baked specialty breads, Panera Bread’s menu offerings also include a wide variety of sandwiches, salads and soups.
The restaurant is open Monday through Thursday, 6 a.m. to 9 p.m., Friday and Saturday, 6 a.m. to 10 p.m., and Sunday, 7 a.m. to 8 p.m.
Read more: A fifth for SmartCo; Panera opens at University Hills - Denver Business Journal
The 42,000-square-foot store at 3615 West Bowles Ave. will be run by store manager David Crookston, who has 17 years of grocery industry experience with companies such as Sunflower Farmers Market, Wild Oats and Reay’s Ranch Markets.
“SmartCo Foods is thrilled to open our fifth store in Littleton, offering shoppers a new, smarter, more economical and convenient way to shop for their home or business,” said Crookston in a statement. “We’re overwhelmed by the excitement and support from the Littleton community in welcoming our unique grocery store concept to the neighborhood and look forward to being a part of this community for many years to come.”
SmartCo bills itself as a hybrid of a local supermarket, warehouse club store and a farmer’s market.
The Aug. 4 grand opening starts at 6 a.m., and SmartCo is giving gift cards randomly valued from $20 to $100 to the first 250 customers. There will be kids activities, live entertainment and more.
During the grand opening week, the company will make $2,500 donations to the Littleton Public Schools and the Women’s Bean Project.
“As SmartCo Foods’ new Littleton store manager, I’m committed to supporting the local community, delivering quality food and products at excellent values, and providing top-notch customer service,” Crookston said.
SmartCo opened in Greenwood Village in June and the Centennial store opened July 28.
The other two Colorado stores are 5141 Chambers Road in Denver and 1750 North Main St. in Longmont. SmartCo Foods reported it plans to significantly expand its presence in Colorado over the next few years, opening an additional 20 to 25 stores.
The Littleton SmartCo Foods will be open from 6 a.m. to 11 p.m. daily.
U. Hills gets a Panera
Panera Bread opens its 28th Colorado restaurant Aug. 11 in the University Hills shopping center.
The 2466 S. Colorado Blvd. location is the second Colorado restaurant to feature a drive-through window.
Panera Bread's new University Hills location. [Credit: Panera Bread]
“We look forward to serving customers in the University Hills area with our new bakery-cafe and drive-thru and becoming a greater part of the community,” said Craig Flom, regional operating partner of Colorado Panera Bread, in a statement.
During the grand opening celebration, some customers will receive mystery gift cards and a free cinnamon crunch bagel.
Throughout the year, the new Panera Bread will support local community organizations such as Food Bank of the Rockies, officials said.
“We feel strongly about being a responsible corporate citizen and plan to support University Hills-area events, fundraisers and other charitable efforts on an ongoing basis,” Flom said.
Known for its fresh-baked specialty breads, Panera Bread’s menu offerings also include a wide variety of sandwiches, salads and soups.
The restaurant is open Monday through Thursday, 6 a.m. to 9 p.m., Friday and Saturday, 6 a.m. to 10 p.m., and Sunday, 7 a.m. to 8 p.m.
Read more: A fifth for SmartCo; Panera opens at University Hills - Denver Business Journal
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