Whitney Lee Ladwig
The Market Shops unveils multi-million dollar renovation, and announces new merchants and first community event
Miramar Beach, Fla – (April 23, 2014) – The Market Shops located at the entrance to Sandestin Golf and Beach Resort has unveiled specific details and a timeline for the extensive renovation that is currently taking place on the property.
Construction on the property began on March 17, 2014 and includes major exterior repairs including: doors and windows being installed to all storefronts facing Emerald Coast Parkway, which will provide easy access from the parking lot and visibility to traffic passing by, as well as redesigned courtyards and walkways. Brick pavers are being laid in the interior common area of the center to create a courtyard that will be the epicenter for events, nightlife, live music and more. The center will also receive cosmetic enhancements including a new façade, stone columns, a new paint color scheme and a complete redesign of landscaping. The lawn on the east side of the property has been expanded and refreshed to host festivals, concerts and other special events in the future. The renovation is scheduled for completion by Summer 2014. In the interim, the local community is invited to the center every Sunday for the Seaside Farmer’s Market at The Market Shops beginning Sunday, April 27, 2014 from 9:00 a.m. to 1:00 p.m.
The Market Shops confirms the addition of several new merchants that will be joining Sunset Shoes, Sandestin Real Estate and Tandestin including a new fine dining concept by the managementof Bistro Bijoux, Sirens at the Beach, a locally owned lingerie, lounge, swim and sleepwear boutique, Favori Gift Boutique, a mini sweet shop, apparel, jewelry and art boutique as well as Market Shops Nails & Spa. Several additional new merchants will be announced in the coming weeks, and many of The Market Shops merchants will be open for business during the renovation of the center.
Built in 1985, this is the first renovation that the 52,000 square foot center has undergone. Owners of the center, OBP Partners of Miami, Fla., acquired the property in 2002, and in 2013 took over the asset’s management duties from the prior operator.
“With OBP Partners’ experienced team now managing and operating The Market Shops, and with the real estate market making a strong comeback, we think this is the right time to revive The Market Shops,” said Ian Schenkman, Vice President of OBP Partners. “We are excited to reestablish the center as a location for the local community to enjoy.”
JPB Commercial Real Estate Advisors is handling all leasing for The Market Shops and has seen very strong interest from local and regional retailers and restaurateurs. Currently in the pre-leasing stage, the center has reached more than 50% occupancy. Those wishing to inquire about leasing space at The Market Shops should contact JPB agents Tom Watson at 850-527-3524 or Doreen Baca at 850-460-5050.
About The Market Shops
Located at the entrance of Sandestin Golf and Beach Resort, The Market Shops is an upscale, neighborhood-style shopping, dining and entertainment center. After going through a complete renovation in the spring of 2014, The Market Shops will reemerge as the Emerald Coast’s premier location for unique retailers, specialty boutiques and an array of eateries from casual to fine dining. The East Lawn and Courtyard will feature live music and local events including wine walkabouts, farmer’s markets, concerts and more. For more information visit www.themarketshops.com or find The Market Shops on Facebook and Twitter.
About The OBP Partners
Founded in 1970, OBP Partners is a real estate investment company with offices in Miami, Florida. OBP Partners has built, owned, and operated manufactured housing, office, industrial, multifamily, retail and medical office properties throughout Florida, Tennessee and Virginia, as well as water and wastewater utilities throughout Florida.