NAI LeGrand Real Estate Blog

Promenade complex lands first retail store

admin — Fri, 02 Oct 2009 18:52:29 +0000

A wedding and event planning business expects to open July 1 next to the Promenade Cinema 14 in downtown Sioux City.6 South Designs is relocating from the Southern Hills Mall to the Promenade Complex.

6 South Designs becomes the first business to locate in the commercial space that wraps around each side of the 14-screen theater.

A California-based developer, Civic Partners, built the $13 million complex. NAI LeGrand & Company’s Arlene Curry and Ritch LeGrand brokered the deal for Civic Partners.

6 South Designs carries a large selection of dresses, formal wear, custom jewelry, handbags and other accessories for weddings and other special occasions. The store assists brides and grooms in planning their big day, lining up everything from rental halls to limousines.

“We’re basically a one stop shop for weddings and events,” Desch said. The new store will add some new items, including men’s shoes and formal wear for little boys, she said.

6 South Designs will take up nearly half of the 4,600 square feet of the unfinished commercial space on the west side of the theater. Another 7,000 square feet is available on the east side. LeGrand & Company, a Sioux City commercial real estate firm, is working with other prospects, including a proposed restaurant interested in a sizeable amount of space in the east end.

The Siouxland Initiative Recognized Amongst Nation’s Best

admin — Mon, 07 Sep 2009 02:28:31 +0000

For the second consecutive year, The Siouxland Initiative (TSI), the economic development arm of the Siouxland Chamber of Commerce, has been recognized as one of the “Top-Ten” economic development organizations in the United States by the Industrial Asset Management Council.Economic development groups were ranked by examining four objective criteria including the creation of new jobs, new investment per 10,000 residents, the dollar amount of new capital investment, and new investment per 10,000 residents. Economic development groups were evaluated for more subjective strengths, among them innovation, leadership, and customer service.

S & P’s Upgrade City’s

admin — Mon, 07 Sep 2009 02:26:52 +0000

Standard & Poor’s, upgraded the City of Sioux City’s bond rating one notch from AA- to AA. Standard & Poor’s upgraded the bond rating after the city advertised to sell four series of bonds. In a letter to the city, rating agency said it increased the city’s general obligation debt rating to AA ” based on the city’s maintenance of a very strong financial condition, boosted by available reserves outside the general fund. The outlook is stable.The ratings further reflect the city’s position as a regional economic and employment center, adequate wealth and income indicators and low-to-moderate overall debt burden with rapid principal amortization.

Historic Badgerow Building Finds Owner

admin — Tue, 07 Jul 2009 02:30:03 +0000

The Badgerow Building has been sold to a southern California investment group that plans to restore the historic downtown structure.

The Badgerow, considered the premiere example of Art Deco architecture in the city, features a unique design that includes a row of Indian silhouettes along the rooftop and is listed on the National Register of Historic Places.

Mako One Corp. acquired the vacant 12-story building at 622 Fourth Street from an Illinois attorney.

The long range plans are to redevelop the building with a mixture of high-tech data centers, office and commercial uses. The estimated costs are roughly $11 million prior to tenant improvements.