Dorsey actively seeks property for shadow center sites, pad sites and 2nd Generation Shopping Center value add properties for development | redevelopment.
With our deep understanding of the real estate market in the Gulf South combined with vertical integration of in-house construction, Dorsey is poised to increase its portfolio of Shopping Center Properties. We are open to acquisitions and joint venture opportunities.
Dorsey has the experience and expertise to transform undervalued properties into quality projects that serve as stable, long-term investments.
GROUND UP DEVELOPMENT
Dorsey Development’s vertical integration with its in-house construction team gives it a distinct advantage over other developers. As a Developer and General Contractor we are able to control the entire project from start to finish – that gives us confidence that we can deliver as promised. And being the single point of contact simplifies the process for our clients.
Our national | regional tenants have store opening goals, which must be met. Dorsey brings together teams of brokers, architects, engineers, and contractors into a seamless, cohesive team capable of delivering quality projects in a timely manner. We understand the delivery of space differs among tenants and work well in coordination with our tenant’s build out contractors and fixture teams.
We accept total responsibility for quality and timely results.
Market shifts, demographic changes, new competitive retail space can have a great impact on a shopping center – coupled with deferred maintenance and a lack of capital reinvestment – a once thriving SC can fall into a precarious position in the marketplace. Even with tenant interest, without a concerted plan for redevelopment it will be virtually impossible to successfully retenant or redevelop a property.
Dorsey understands that no two properties are the same and each requires its own distinctive plan for redevelopment. Dorsey has the vision to reimagine languishing SC properties. More than that, Dorsey has the resources, experience and expertise to implement a redevelopment plan to return a SC to viability and profitability.
Properties in good locations with vacancy, absentee ownership, deferred maintenance, potential for – GLA increase, outparcel creation, remerchandising of tenants are good candidates for a Dorsey acquisition.
CROWDER RETAIL CENTER
Restored to Former Prominence
Acquired as a vacant shell (post-Katrina), Dorsey subdivided the property for a BTS Dollar General Plus Store, a Walgreen’s Pharmacy, and retrofit of the existing SC structure. The upgraded architecture and renewal of the property was a welcome addition to this eastern New Orleans neighborhood.
Address: 5700 Crowder Blvd., New Orleans, Louisiana 70127
Property: 7.6 ACS
GLA: 55,174 SF
Tenants: Dollar General, Walgreen’s, Pizza Hut, Planet Fitness, Metro PCS
UNIVERSITY RETAIL CENTER
Post Katrina – Revival among Devastation
Acquired shortly after Katrina, Dorsey upgraded the SC – including a new façade’ and new tenants. As one of the first SCs opened after the catastrophic storm, the SC served critical needs of the community and was a glimmer of hope among devastation. A new Starbucks will be added to the SC in winter 2018.
Address: 2841 S. Claiborne Ave, New Orleans, Louisiana 70125
Property 3.0 Size ACS
GLA: 57,787 SF
Tenants: Dollar General, Sav-A-Lot, It’s Fashion Metro, City Gear, Citi- Trends, Starbucks
GENTILLY RETAIL CENTER
Ground Up – Wal-Mart Supercenter Shadow Center
Following shifts in this mature New Orleans’s market, Wal-Mart razed an old SC to build a new Supercenter on Chef Menteur Hwy. Dorsey followed with an adaptive reuse of its own. Removing a failing, deteriorating 2-story office / retail building, Dorsey built a new shadow center on this infill site – brining new national retailers to the market.
Address: 4242 Chef Menteur Hwy, New Orleans, Louisiana 70126
Property: 3.4 ACS
GLA: 29,469 SF
Tenants: Dollar Tree, Foot Locker, Kids Foot Locker, Rue21, WingStop
Long Dormant Retail Center – Revived
The Former Trading Post SC served the River Ridge community for many decades. However, in recent years the once bustling SC had lost tenants and had fallen into disrepair. Dorsey acquired the SC and brought in well-established businesses: Langenstein Grocery and Whitney Bank as new tenants. Dorsey’s upgrades to the building and renewal of the SC was nothing short of a revival.
Address: 10009 Jefferson Hwy., River Ridge, Louisiana 70123
Property: 3.6 ACS
GLA: 47,803 SF
Tenants: Langenstein Grocery, Whitney Bank, Dollar General, Planet Fitness