Center Street District, Baseline - Broomfield, CO

Baseline is a 1,100-acre master planned community being developed by Denver-based McWhinney. It is located west of I-25 and east of Sheridan Parkway in Broomfield, CO, 30-minutes north of downtown Denver. At full build-out, this community is planned to have several million square feet of commercial space and more than 9,200 homes.

Hoffman Strategy Group served on the McWhinney team responsible for the overall vision and strategy of the Center Street District. This is Baseline’s urban commercial core that is to include offices, hotels, apartments, senior living, entertainment options and restaurants. The parameters for this commercial core is based on our office, retail, entertainment and dining analytics.

Front & York - DUMBO Brooklyn

Los Angeles-based CIM Group is co-developing with Brooklyn-based LIVWRK Front & York, a full service, mixed use residential and retail project in Brooklyn’s DUMBO neighborhood. Front & York will bring approximately 150,000 SF of new retail space, 408 residential condominiums and 320 rental apartments to DUMBO.

Hoffman Strategy Group was engaged to conduct a market analysis to quantify the potential for the retail and food and beverage components of Front & York. A long-term optimal merchandising and tenant mix strategy that included recommended tenants, tenant specific sales forecasts and estimated occupancy costs was also provided from this analysis.  CIM Group is executing on this strategy and Front & York is scheduled to open in 2021.

Brixmor Property Group Portfolio Analysis

Brixmor Property Group (NYSE: BRX) owns and operates more than 400 retail centers across the country — centers where retailers and communities connect and thrive.

Hoffman Strategy Group was retained by Brixmor to evaluate mixed-use redevelopment opportunities across key properties in their portfolio, specifically related to multi-family housing, student housing, hotels and office buildings. After completing the market assessment for each property, specific recommendations were made for long term and market supportable redevelopment opportunities.

University Mall in Davis, CA, is a redevelopment example. The City of Davis approved Brixmor’s plan to replace the 52-year old mall with a mixed-use development of 264 multi-family residential units above more than 136,000 SF of retail space. Brixmor’s plan is based on the apartment and student housing feasibility analysis done by Hoffman Strategy Group.

Montclair Place - Montclair, CA

Los Angeles-based CIM Group owns Montclair Place, an enclosed regional mall located in Montclair, California, at the western edge of San Bernardino County approximately 30 miles from Downtown Los Angeles and adjacent to Interstate 10. This 1.2 million square foot mall is situated on approximately 72 acres and is anchored by Nordstrom, Macy's, JCPenney, Sears and features over 150 shops.  Recent improvements to the mall include an interior renovation and the addition of a food hall.  A new dining and entertainment wing, anchored by an AMC Dine-In 12 screen theater, is currently under construction.

Given the ongoing evolution of “brick and mortar” retail and the improvements being made at Montclair Place, CIM Group retained Hoffman Strategy Group to identify market opportunities with a focus on new and improved retail offerings, food and beverage and entertainment uses. After completing a market assessment and an evaluation of the competitive landscape in the Montclair area, specific tenant and operator recommendations were made with projected tenant sales forecasts and occupancy costs. Short and long term “next steps” were also recommended to enable Montclair Place to capitalize on market opportunities.

National Harbor - D.C.

National Harbor is a 350-acre, mixed-used development built and owned by Fairfax, VA-based The Peterson Companies.

Our work focused on answering these main questions to support leasing and marketing:

• What is the optimal long-term retail merchandising, tenant mix strategy for National Harbor?

• Is a new boutique hotel viable in this market and, if so, what land parcels are most suitable?

US Bank Centre - Downtown Seattle

Seattle-based City Centre is a partnership that owns and manages the 44-story US Bank Centre on 6th & Pike in downtown Seattle.

We provided quantitative and qualitative analysis to determine market potential for the optimal repositioning and merchandising strategy of retail, restaurants and other food and beverage tenants. This include quantifying the spending potential from downtown area residents, daytime workers, commuters at the transit hubs, overnight guests at the area hotels and convention center, and college students.

CCMP Capital - Acquisition Analysis

New York City-based CCMP Capital is a private equity investment firm that focuses on leveraged buyout and growth capital transactions. Formerly known as JP Morgan Partners, CCMP Capital has invested about $12 billion since 2006.

We provide third-party due diligence market and feasibility analysis and white space studies on the potential acquisition of national retail chains.

Village Center, Chatham Park - Pittsboro, NC

Chatham Park is a 7,000-acre master planned “smart community” that is located in the Raleigh-Durham-Chapel Hill Triangle town of Pittsboro, NC. As a “smart community”, it embraces the EPA’s 10 Point Smart Growth Principles. Full build-out of this $15 billion project is envisioned to take over 30 years.

Hoffman Strategy Group worked with the investors/partnership team to create a plan and strategy for the big box retail, small specialty shops, grocery stores, and dining in the North Village and Village Center. The Mosaic and Vineyard are mixed-use sites part of the North Village and are currently being leased-up as of 2020. Our role was to focus on the next phase of development in the North Village and Village Center.

Lilia Waikiki - Honolulu, HI

Lilia Waikiki is a mixed-use development in the heart of Hawaii’s most well-known destination for retail, lodging, dining and entertainment.  Lilia Waikiki will consist of a 28-story residential tower with over 400 units and approximately 50,000 SF of retail and food and beverage uses.  It will be the first high rise Class A rental tower built in Waikiki in over 20 years.

OliverMcMillan hired Hoffman Strategy Group to support the retail and food and beverage marketing and leasing efforts. In that regard, spending potential was quantified for residents, tourists and area employees. That analysis supported development of a leasing and merchandising strategy that included specific tenant recommendations and sales forecasts.

Riverton Sayreville, New Jersey

Riverton is a $2.5 billion mixed-use project on 310-acres in Sayreville, New Jersey. This project, which is being developed by Cincinnati-based North American Properties, will integrate residential, retail, entertainment, a marina, office and hotel uses.

Hoffman Strategy Group was hired by North American Properties to conduct a mixed-uses feasibility study used for master planning, project pro forma, and leasing. This study quantified the amount and type of market-supportable uses and estimated sales and revenue volumes for retail, restaurant, entertainment, single and multi-family residential, office space, and hotels.

Hoffman Strategy Group also conducted an economic impact analysis of the estimated incremental sales from the new retail stores, restaurants, entertainment venues and hotels at the Riverton project to the State of New Jersey.

Roti Modern Mediterranean - Customer Lifestyle Profile

Chicago-based Roti operates 42 locations nationally, including Chicago, Washington, D.C., New York City, Dallas, Houston and Minneapolis. In the words of CEO Justin Seamonds, “Roti sits at the center of the current food and wellness culture zeitgeist. Roti’s Mediterranean-inspired lifestyle of sharing and celebrating are extremely rare qualities to combine in a single business.” (QSR Magazine, 2020)

Justin, former CEO of Snack Street and Dean and DeLuca, and his team, which includes Executive Chairman Mats Lederhausen (former chairman of Chipotle), are focused on strengthening the organization and positioning Roti for long-term growth of its restaurant footprint, Digital offerings, delivery, and best-in-class catering business.

Hoffman Strategy Group analyzed mobile location data on each of the 41 existing locations to define Roti’s core customer lifestyle segments using Claritas’s PRIZM Premier system; to relate the profiles to average store volume; and profile the characteristics of sweet-spot restaurant locations closest to their target customer.

Johnny Was - National Store Expansion

Los Angeles-based Johnny Was is a women’s luxury boho fashion and accessories store with locations across the U.S.

Hoffman Strategy Group was retained to provide a “white space” study that:

• Created core lifestyle segmentation profiles of the 2018 Johnny Was retail store and online customer;

• Analyzed the number of supportable retail stores in the U.S.; and,

• Provided a U.S. retail store expansion strategy with sales forecasts for all potential locations.

Ollie’s Bargain Outlet National Store Expansion

Harrisburg, PA-based Ollie’s Bargain Outlet is one of America’s largest retailers of close-out merchandise and excess inventory.

Hoffman Strategy Group was retained to provide a 2019 update of the Ollie’s Bargain Outlet core customer profiles; and compare the core customer profiles to stores based on sales performance.

Based on the Ollie’s 2019 core customer profiles, Hoffman Strategy Group estimated the total number of stores Ollie’s can support across the U.S.; and in each of the over 900 cities and towns.

ShopOne - Acquisition Analysis

New York City-based ShopOne Center REIT owns and manages market-dominant, grocery-anchored and necessity-based shopping centers across the U.S.

We provided third-party due diligence market and feasibility analysis on the potential acquisition of a 735,000 SF power center.

Mare Island - Vallejo, CA

Mare Island, established in 1854, was the US Navy’s first shipyard on the West Coast until it closed in 1996. Lennar Mare Island built 350 homes on the site between 1999 and 2019 and sold nearly 500 acres to The Nimitz Group in November 2019.

The Nimitz Group, a partnership between Nashville investor Gaylon Lawrence, Jr., Depiction Wines owner Sebastian Lane and Savage & Cooke Distillery-owner Dave Phinney, currently own 800 acres on the island. In February 2020, they hired Nashville-based Southern Land Company as the master developer.

Hoffman Strategy Group’s work with The Nimitz Group partners and Southern Land’s team focused on developing an analytics based strategy for the multifamily residential, business clustering and office, specialty retail, food and dining components to the overall vision of the master plan.

District at Clifton Heights - Cincinnati, OH

The District at Clifton Heights is an adaptive reuse of the former Deaconess Hospital site next to the University of Cincinnati. Lafayette, IN-based Trinitas Ventures, a student housing developer, is transforming this 5-acre property into a mixed-use project that includes 1,000 beds of student housing, multi-family housing, a hotel, an entertainment venue, food and restaurants and retail.

We conducted the feasibility analysis for all uses except for the student housing; and served on the design and master planning team, which include community design charrettes.

Oak View Mall Omaha, Nebraska

Oak View Mall is an approximate 900,000 SF enclosed regional mall anchored by Dillard’s and J.C. Penney and is located in West Omaha. The West Omaha area is often attributed as leading the city in development of more upscale retail, restaurants and hotel space.

Nuveen, the Oak View Mall ownership group, engaged a team of professionals, including Hoffman Strategy Group, to study potential redevelopment scenarios at Oak View.  The objective of this team was to recommend a redevelopment plan to ownership that would maximize the value of the real estate.  Hoffman Strategy Group’s role on this team was to evaluate the relevant market and to assess the long- term supportability of retail and non-retail uses at the site; to recommend the amount and type of retail and food and beverage uses that would succeed in the market for the long-term; and to recommend the addition of multi-family, hospitality and office uses in order to create an active mixed-use destination.

MacArthur Center - Norfolk, VA

MacArthur Center is an enclosed three level super-regional mall in downtown Norfolk. The center has easy access from the I-264 loop and is close to five colleges, such as Tidewater Community College and Eastern Virginia Medical School, with over 58,000 full-and part-time students.

Starwood Retail Partners, the owner of MacArthur Center, hired Hoffman Strategy Group to assess the viability and optimal mix of retail and non-retail uses for the site. Non-retail uses evaluated include multi-family, hospitality and office. Based on Hoffman Strategy Group’s feasibility analysis, the recommendation was to reposition the MacArthur Center from a super-regional mall to a mixed-use urban center with multi-family and hospitality uses. Starwood Retail Partners has been executing a repositioning redevelopment plan at MacArthur Center since 2018. 

The Galleria White Plains White Plains, New York

Los Angeles-based Pacific Retail Capital Partners purchased the 870,000 SF Galleria White Plains in 2016. Across the street from The Ritz-Carlton Hotel & Residences, the mall features 130 retailers and eateries.

Our role was to conduct a long-term retail feasibility and market analysis and develop an optimal merchandising strategy in support of a redevelopment plan. The tenant mix recommendations included forecasting sales for new retail, food and restaurants, including a food hall, and entertainment venues.

53rd Street - Chicago

The University of Chicago developed Harper Court, a mixed-use project in the Hyde Park neighborhood, and focused new investment along the 53rd Street Corridor.
Our role was to answer two broad questions to support leasing and marketing:

• What is the supportable and optimal retail tenant mix strategy?

• What is the economic impact of new commercial and retail development in the 53rd Street Corridor? 

Allstate - Land Acquisition Analysis

The Allstate Corporation is one of the largest insurance providers in the U.S. and one of the largest that is publicly held.

We conducted a market and feasibility analysis in support of land acquisition due diligence. The analysis addressed retail, restaurants and services; multi-family housing; and hotels.

Property Owners & Developers

Assurity Life
Brixmor Property Group (NYSE: BRX) Brookfield Properties (NASDAQ: BPY)
Cardon Development
CBL Properties (NYSE: CBL)
CBRE (NYSE: CBG) CCMP Capital CIM Group
City Ventures
Cerner (NASDAQ: CERN)
Divaris Real Estate Harsch Investment Properties
Hendricks Commercial Properties
Jasper Stone Partners J. Fisher Companies
Legacy Developments LT Global
LBG Real Estate McCaffery Interests
Normandy Real Estate Partners
North American Properties Nuveen OliverMcMillan Pacific Retail Capital Partners

Pendulum Partners Picus Associates RED Development RPAI (NYSE: RPAI) RedLeaf Properties
Rouse Properties
Seritage Growth Properties (NYSE: SRG)
ShopOne Centers REIT
Stanbery Development
Starwood Retail Partners
StreetLights Residential
Southern Land Company Terra Carta Partners  The Nimitz Group The NHP Foundation The Peterson Companies The Seligman Group Tetrad Property Group Trinitas Ventures United Development Company
ValueRock Realty VanTrust Real Estate Waterstone Properties

Retail Stores & Restaurants

Francesca’s Johnny Was Ollie’s Bargain Outlet Aesop Blue Mercury Elaine Turner MAC Origins Aveda Jo Malone Lather L.L. Bean Rejuvenation Runway Seven Saje Spanx Steve & Kate’s Sundance Sur La Table The Shade Store Williams-Sonoma Pottery Barn Best Bison Dean & Deluca Cafe Express Capital Grille Morton’s B.J.’s Brewhouse Nando’s Peri Peri True Food Kitchen Yard House Hustler Hollywood Roti Modern Mediterranean

Municipalities & Universities

Town of Avon, Indiana City of Cape Coral, Florida City of Elk Grove, California City of Elyria, Ohio City of Murrieta, CA City of Riverside, Missouri City of Papillion, Nebraska City of Pierre, South Dakota City of Yankton, South Dakota City of Wisconsin Rapids, WI Dodge City/Ford County Development Corporation
Princeton University University of Chicago

Deliberate project design, planning and execution supported by extensive feasibility analysis leads to more than the brick-and-mortar development of buildings. This helps to create a strong sense of place.

Jerry Hoffman, Founder & Partner