A monthly column featuring retail real estate companies
Fameco Goes National
Fameco Real Estate is continuing to expand its horizons in the retail real estate arena. While the company’s original focus was mainly on retailer representation, it has expanded its expertise to include all aspects of the retail real estate industry. Fameco services include retailer representation, investment sales, management services and owner representation. Fameco now comprises more than 60 professionals, including 30 salespeople that are supported by a staff with a vast knowledge of graphic design, demographic analysis, financial analysis and general administration. As a result, Fameco has become one of the most active retail brokerage firms throughout DE, NJ and PA. Its office is located in Conshohocken, PA.
While Fameco has put its focus on DE, NJ and PA markets, the company has recently decided to look at things from a national standpoint. According to Brandon Famous, Fameco’s CEO, “Fameco is the dominant player in the region, but we realized that to expand our business beyond these boundaries we needed a leader with the national experience to help guide and manage our growth.” In a strategic move earlier this year, Fameco announced the hire of Troy Peple as President. Peple was the former President and CEO of ChainLinks, the largest retail real estate brokerage enterprise in North America. Peple’s expertise as a leader of a national organization, coupled with his relationships and the depth of Fameco’s knowledge and superb regional reputation, is already bearing fruit. Fameco’s investment sales division has seen a 900% increase in third party engagements since the beginning of the year. It has successfully completed transactions involving more than five million sq.ft. and totaling more than $1 billion. The division is currently involved in the sale or acquisition of 2.5 million sq. ft. of space nationally for a solid mix of institutions and entrepreneurial owners. The company’s investment sales division has a knack for creating an immediate demand for the property. It uses a systematic approach of locating potential buyers, and starts by referring to an internal database that tracks all of the important details in the retail real estate industry. These details include the sale of all of the properties in and around Fameco’s market. Through the company’s process, it can streamline the marketing time and significantly lessen the amount of time to achieve the purchase contract. The team takes an aggressive approach when it tries to position and market the property to qualified prospects. Fameco will provide buyers with thorough information and respond to issues to keep the process moving. The company’s goal is to get an immediate commitment from the buyer through an aggressive initial offering, a consistent follow-up program, coordinated document management process and a commitment to keep the buyer focused.
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Brandon L. Famous Chief Executive Officer and Founder of Fameco Real Estate, L.P. Fameco’s management services division has taken bold new steps as well under the helm of Peple. It announced the hire of Larry Zipf, the former head of CB Richard Ellis’ property management division for the Philadelphia region, to spearhead Fameco’s growth in this arena. According to Zipf the market has a need for a well orchestrated, management, leasing and owner/landlord representation firm. “Today owners and investors are seeking solid management specialists to retain and increase the value of their retail properties” said Zipf. The result - since June, the division has doubled the size of its management portfolio which now stands in excess of 4 million sq.ft. Fameco management’s value added approach to retail real estate management has captured the attention of national clients. It has already been tapped by SCI Real Estate to provide asset management and due diligence services nationwide. Accordingly, Fameco’s team combines local real estate intelligence, leasing expertise and retail relationships with institutional quality reporting, accounting and management services. Fameco’s management services team is positioned to assist nationally owners, investors, lenders, retailers, and others with business interests in the retail real estate sector. |
The company’s retailer representation division represents more than 60 national, regional and local retail chains. Its tenant rep roster includes: adidas, Balducci’s, Best Buy, Borders, GAP Brands, Dick’s Sporting Goods/Galyans, Five Below, Kohl’s, LA Fitness, Pier 1 Imports, and Staples, among many others.
Fameco’s owner representation division provides leasing services for more than 12,000,000 sq.ft. that includes approximately 80 shopping centers and retail properties, which have GLAs ranging from 5,000 sq.ft. to 500,000 sq.ft. The company has a vast amount of experience in the marketing of proposed retail developments as well as existing shopping centers. Fameco’s expertise in the development process includes land acquisition, permitting and approvals, financing, anchor tenant lease negotiations and small shop leasing. The company is also making a name for itself in the lifestyle center leasing arena. It is serving as the leasing agent for the 350,000 sq.ft. retail portion of Ellis Preserve, a mixed-use development in Newtown Square, PA, which will encompass more than 200 acres. Fameco also had a hand in leasing up the soon to be opened Shops of Villanova in Villanova, PA. The three story, 90,000 sq.ft. lifestyle center is situated in the middle of the prestigious Main Line. Fameco also represented Bayer Properties, Inc. in its acquisition of approximately 300 acres in Bethlehem, PA for a mixed-use development to include an 800,000 sq.ft. lifestyle center— The Summit Lehigh Valley.
For more information, contact Brandon Famous, Fameco Real Estate, 15 East Ridge Pike, Suite 100, Conshohocken, PA 19428; 610-834-8000, Fax 610-834-1793; Web site: www.famecoretail.com.