{"id":1004169855,"date":"2017-03-20T08:12:54","date_gmt":"2017-03-20T16:12:54","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004169855"},"modified":"2025-02-18T04:57:16","modified_gmt":"2025-02-18T12:57:16","slug":"gbt-to-develop-2-retail-centers-in-southeast","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/gbt-to-develop-2-retail-centers-in-southeast\/","title":{"rendered":"GBT to Develop 2 Retail Centers in Southeast"},"content":{"rendered":"<p>By Evelina Croitoru<\/p>\n<div id=\"attachment_1004169907\" style=\"width: 300px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Craig-Cole.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004169907\" data-attachment-id=\"1004169907\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/gbt-to-develop-2-retail-centers-in-southeast\/craig-cole\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Craig-Cole.jpg\" data-orig-size=\"600,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Craig Cole, managing director of GBT Realty Corp.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Craig Cole, managing director of GBT Realty Corp. &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Craig-Cole.jpg?w=600\" class=\"wp-image-1004169907 \" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Craig-Cole.jpg\" alt=\"Craig Cole, managing director of GBT Realty Corp. \" width=\"290\" height=\"290\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Craig-Cole.jpg 600w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Craig-Cole.jpg?resize=150,150 150w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Craig-Cole.jpg?resize=300,300 300w\" sizes=\"auto, (max-width: 290px) 100vw, 290px\" \/><\/a><p id=\"caption-attachment-1004169907\" class=\"wp-caption-text\">Craig Cole, managing director of GBT Realty Corp.<\/p><\/div>\n<p><strong>Baton Rouge, La. &amp; Broken Arrow, Okla.<\/strong>\u2014GBT Realty Corp. acquired\u00a0two undeveloped sites for a collective $1.66 million. The company intends to develop two unanchored shopping centers in Baton Rouge, La. and Broken Arrow, Okla.<\/p>\n<p>GBT purchased a .86-acre site from Target along Millerville Road in Baton Rouge, La. The 6,600-square-foot center shadow-anchored by Target, Best Buy and Office Depot was 100 percent pre-leased at the time of the deal. The site located at the nexus of 2001 Millerville Road and I-12 traded for $810,000.<\/p>\n<p>The second 1.25-acre site purchased is located along a primary corridor in Broken Arrow, Okla. The 10,400-square-foot building adjacent to the upcoming QuikTrip was 70 percent pre-leased at the time of the deal, with the tenant list including Jersey Mike\u2019s Subs, Wing Stop and Tropical Smoothie Caf\u00e9. The property traded for $850,000.<\/p>\n<p>\u201cGBT\u2019s unorthodox approach to site selection allows us to essentially create the unseen site by identifying potential dirt and space previously undefined \u2013 and for the most part not on the market \u2013 in popular retail corridors,\u201d said Craig Cole, managing director for GBT, in a prepared statement. &#8220;Breaking-up a parcel, tagging an outdated building for demolition or carving out space in under-utilized parking lots are just a few ways we create opportunity.\u00a0 We then leverage our tenant relationships we\u2019ve established as the most active retail developer in the country to create critical mass among multiple smaller tenants.\u201d<\/p>\n<p><em>Image courtesy of GBT Realty Corp.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company has acquired two sites for $1.7 million, on which it plans to develop two unanchored shopping centers.<\/p>\n","protected":false},"author":1055,"featured_media":1004169907,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21782,21742,21749,32781],"tags":[34496,34312],"class_list":["post-1004169855","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-development","category-latest","category-retail","category-southeast","tag-craig-cole","tag-gbt-realty-corporation"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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