Georgian Place Finished 2012 with
a 90 percent occupancy level.
A remarkable achievement when you
consider that only four of the original outlet retailers remained at the
property when it was purchased by SugarOak Properties in 2005. The property has
been successfully re-positioned despite a poor economic climate and the negative
public perception of the “failed outlet mall.”
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| Tonya Spangler, VP of leasing and sales, and Don Lynch, building and grounds supervisor at Georgian Place |
Tonya Spangler, VP of Leasing
& Sales for SOAR Somerset, an entity of SugarOak Properties has implemented
a redevelopment plan that has transformed the property into a mixed use,
community center.
“Tonya has done a remarkable job
of matching the positive attributes of Georgian Place with some of Somerset’s
leading physicians, businesses, charitable organizations and local retailers.
She truly deserves a lot of credit for bringing GP back to life,” said Dan
Baker, the president of SugarOak Properties.
The highlight of 2012 was the
sale of an 11,200 square foot space to the Boys & Girls Club of Somerset.
Their new facility is three times larger than their previous location.
The newly built out space is
extremely flexible and meets the club’s activity, gym and office space
requirements very well. Also contributing to the increase in the amount of
space that has been sold, Boyer Financial Planning purchased an additional
2,100 square feet.
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| Children enjoying the gym area at the Boys & Girls Club located in Suite 117 Georgian Place, Somerset, PA |
New leases were signed with
Wilson Creek Energy, Ophthalmic Associates, Community Care, Inc., Appalachia
IU8, Polished Professional Nail Spa, PA Elks State Association, and George and
Bob’s computer service.
Georgian Place has large, well
lighted parking areas, a nicely landscaped courtyard “gathering” space with
picnic tables and benches which are enjoyed from April through November or December.
The project is situated on over
40 acres and has two areas currently donated to nonprofit organizations, Somerset
County Farmers’ Market and Jager & Friends Dog Park. These agreements are
part of the long term vision of a true community center. The crown jewel of the development is the Georgian Inn of Somerset.
This business is thriving under
the ownership of Charles and Stephanie Charrie. The Charries have taken pride
in operating a first class inn and restaurant. If you haven’t stayed or stopped
by for lunch, dinner, or a quick bite at the bar, you’ve got to put this on
your bucket list of things to do in Somerset.
The great thing about the mixed
use concept is the variety of reasons local residents might have to come to the
property. “We have our own little community,” said Donald Lynch, Building and
Grounds Supervisor. Donald has been at the project since the new ownership and
wears many hats. Don manages all aspects of property maintenance and repairs
and construction projects.
“His attentive effort and
knowledge have contributed greatly to the success of the project,” said Tonya
Spangler. “Don is well versed in construction costs and building codes which
adds tremendous value and keeps us competitive,” Spangler said. “I've had ties
to the property for over 16 years in various construction capacities,” Lynch
commented.
“I've witnessed the changes from
decline to the new direction. It’s been very positive in regards to a relationship
focus with tenants and owners; and the property face lift. Also, we have been
fortunate to work with contractors who are willing to step up to meet our goals
whenever they can to help us succeed with the numerous improvement projects we've taken on. At the end of the day, we want the tenant or owner to be happy
with it. It’s more than just getting it done.
It’s about the finished result,”
he said.
The businesses at Georgian Place
indirectly share in the increased mixed-use activity and become more successful
as a result. The Retail Merchants Association initiates several community
events each year; such as the rapidly growing Scarecrow Festival, and work together
on other fun promotions throughout the year.
There are endless opportunities
for joint advertising and information sharing. Since the property has been
converted to business condominiums, it has become a more involved model of
business partnerships where individual condo owners become partners and have a
stake in the entire property.
“Buying a business condo is a
great way to create value for your business, and many have crunched the numbers
to find it’s less expensive than leasing. The current low interest rates make
it even better to buy now,” Spangler said.
For more information visit
www.georgianplace.net
