Recent News

  • Jul
    27

Rhino Market joins Free Range Brewing at Ram’s new mixed-use project, The Collective.

July 27, 2018

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(Charlotte, NC – July 24, 2018) – Rhino Market has signed a lease to take approximately 3,000 SF of retail space at The Collective, a new mixed-use project being developed by Ram Realty Advisors.  This will be the third location for Rhino and a stimulating addition to the area.  Located adjacent to the NoDa and Villa Heights neighborhoods, The Collective is comprised of a 3.6-acre parcel at 2300 North Davidson Street in Charlotte, NC.  Ram is under construction on a major redevelopment of the site that includes the renovation of the existing commercial building (to be complete in early 2019) and the addition of a new 250-unit multifamily residential community.  Ram is excited to have Rhino Market join Free Range Brewing as part of the project, providing a valued amenity to our future residents and surrounding neighborhoods.

“The goal for the commercial building is to create a design that tied together the old and the new, making sure we retained the character of the warehouse building and of the neighborhood,” says David Klepser, Ram’s lead developer on the deal.

The Collective, under development now, is slated for residential occupancy in spring of 2019 with retail joining earlier that year.  The five-story midrise will include 250 luxury studio, one, two and three-bedroom apartments as well as 2,000 square feet of additional retail space.  Complete with modern Class-A finishes and a full suite of amenities – including a gated parking garage, pool & outdoor lounge, pet wash station, record lounge, 24-hour fitness center with yoga studio, bike room and a makers space for DIY projects – the community is designed to appeal to NoDa’s eclectic renter.

“Our goal is to build a unique and attractive community that complements the vibrant character of the neighborhood,” commented David Klepser.  “We’re using distinguishing architectural styles, industrial-modern finishes, and blending the new development with the existing commercial building.  We want to create a complete live-work-play community that feels at home in the neighborhood.”

The development’s primary draw is its location, located less than two blocks from the 25th Street Station, part of the 9.3-mile Lynx Blue Line expansion.  Residents will enjoy a convenient gateway to Uptown, South End and the University area.  The community is also within walking distance to NoDa’s diverse collection of restaurants, galleries, and entertainment, as well as Cordelia Park and the Little Sugar Creek Greenway, a 19-mile trail that links NoDa to Uptown, Midtown, and Park Road/Montford.

The Collective project team includes partner Citisculpt, lender JPMorgan, architects BSB Design and 505Design, civil engineer LandDesign, interior designer SouthPark Interiors, general contractor VCC USA, property manager 5/ten Management, and commercial leasing broker Foundry Commercial.

About RAM

Founded in 1978, Ram Realty Advisors is an affiliated group of companies and partnerships that acquire and develop retail and multifamily residential properties in select high-growth markets in the Southeast. The company capitalizes investments with Ram-sponsored discretionary private equity funds, and periodically institutional joint ventures. Since 1996, the company has deployed in excess of $2.5 billion of capital. Ram is headquartered in Palm Beach Gardens, Florida and has offices in Fort Lauderdale, Florida; Charlotte, North Carolina; and Durham, North Carolina.

 

 

MEDIA CONTACT:

Kelly Owens
Alchemy Communications Group
ko@alchemycommgroup.com
office: 561.935.9953 x. 101
mobile: 561.222.4958

  • Jul
    27

Construction Begins on Hub South End, the Latest Mixed-Use Development from Ram Realty Advisors

July 27, 2018

Hub South End

(Charlotte, NC – July 26, 2018) – A highly anticipated multifamily mixed-use development recently started construction in Charlotte’s historic South End, bringing a street-activating concept to the currently underutilized corner at Dunavant and Hawkins Streets Slated for occupancy in spring of 2020, Hub South End includes 265 apartments – 29 of them two-story, street-level “townhome” designs — and over 22,000 square feet of new commercial retail, office, and co-working space, all with expanded sidewalks and porch areas to bring more energy to the public realm.

“Ram’s goal is to activate life at the street level,” says Rachel Russell Krenz, Ram Realty Advisor’s Director of Real Estate Development. “Hub South End will add a mixed-use development to what is currently a space poised for the changes that have been seen in the rest of South End, with careful attention to connecting all users of the future property to the dynamic neighborhood.”

The community is developed by Ram on an empty four-acre parcel in a neighborhood bustling with shops, breweries, art, restaurants, and entertainment.  From Hub South End, residents have direct access to the Lynx light rail, a short commute to the Charlotte Douglas International airport, and quick access to major highways.  Plus, Hub is less than two miles from uptown and its city nightlife, Bank of America Stadium, BB&T Ballpark, and more.

Ram has close to a decade of history in South End. The firm made a commitment to it by both placing a regional office there and investing in the strategic development of the area. Hub South End is another example of Ram’s belief in this vibrant neighborhood.

Ram, celebrating its 40th anniversary this year, is well-known for creating developments that offer a carefree-yet-sophisticated lifestyle. Its vision for Hub South End is a thoughtful design concept that allows residents to live in luxe brand-new apartments, work in private and shared co-working offices, and play in community spaces or simply enjoy the local flavor and nearby entertainment. The building includes studio, one-, two-, and three-bedroom apartments with the aforementioned handful of two-story floorplans with street- level entries.

The adjoining commercial space – significant in size when compared to other multifamily anchored mixed-use projects – is in addition to the professional co-working space within Hub South End’s multi-purpose Clubhouse.  Ram efficiently accommodates its residents’ ever-evolving work-life balance by providing ultra-convenience.

“The mixed-use asset allows Ram to leverage its decades of dual expertise in multifamily and retail, and to continue the work begun more than a decade ago when we committed to purchasing Design Center and participate in South End’s success.  Our office remains located in South End and we will be part of the community for the long term,” said Ms. Krenz. “The strategic partnership with Foundry Commercial on the office and retail leasing ensures quality tenants and continues Ram’s commitment to this up-and-coming destination.”

The Hub South End team includes partner Faison Associates, lender PNC Bank, architect Cline Design Associates, civil engineer and landscape architect McAdams, general contractor Concorde Construction, property manager 5/ten Management, and leasing broker Foundry Commercial.

 

ABOUT RAM

Founded in 1978, Ram Realty Advisors is an affiliated group of companies and partnerships that acquire and develop retail and residential properties in select high-growth markets in the Southeast. The company capitalizes investments with Ram-sponsored discretionary private equity funds, and periodically institutional joint ventures. Since 1996, the company has deployed in excess of $2.5 billion of capital. Ram is headquartered in Palm Beach Gardens, Florida and has offices in Fort Lauderdale, Florida; Charlotte, North Carolina; and Durham, North Carolina.

 

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MEDIA CONTACT:

Kelly Owens
Alchemy Communications Group
ko@alchemycommgroup.com
office: 561.935.9953 x. 101
mobile: 561.222.4958

  • Jun
    11

Organic Grocer Opens its First South Florida Outpost

June 11, 2018

Earth Fare opened May 30 in Palm Beach Gardens. It was its first South Florida location. BRADLEE HICKS

Earth Fare opened May 30 in Palm Beach Gardens. It was its first South Florida location.
BRADLEE HICKS

 

By   – Digital Producer, South Florida Business Journal

Organic and specialty foods grocery store Earth Fare has opened in Palm Beach Gardens. The 24,000-square-foot outpost, at 4925 PGA Blvd. in the Mainstreet at Midtown Shopping Center, is the chain’s first Southeast Florida location.

Earth Fare broke ground in January on another store that’s now under construction at The Cobblestone Plaza in Boynton Beach.

Representatives of Earth Fare did not comment on when the Boynton Beach location could open for business.

About 130 people are hired to staff each location.

Established in 1975, the brand has more than 40 locations across the U.S. It offers more than 750 private brand food products that are all non-GMO.

The Palm Beach Gardens location has a juice bar, salad bar, hot foods bar, pizza station, sandwich counter and packaged meals-on-the-go. Its cafe has free Wi-Fi.

With its entrance into the tri-county area, Earth Fare is penetrating a fiercely competitive market for grocers. Specialty and organic brands such as Trader Joe’s, The Fresh Market, Whole Foods Market – in addition to mainstream chains like Publix Super Markets, Walmart Neighborhood Market and Aldi – are all competing for a share of South Florida’s diverse and heavily populated neighborhoods. Sprouts Farmers Market, another natural and organic grocer, also recently announced plans to expand in South Florida.

Read the full article and related news on the South Florida Business Journal’s site: https://www.bizjournals.com/southflorida/news/2018/06/11/earth-fare-opens-in-palm-beach-gardens.html?ana=e_ae_set1&s=article_du&ed=2018-06-11&u=tNgEsq%2FdRidl0%2FhEeqTchw0b5520a9&t=1528745103&j=82082451 

  • May
    31

Everything You Need to Know About the New Gardens Grocery Store

May 31, 2018

Earth Fare, a new grocery store on PGA Boulevard west of Military Trail, opens 7 a.m. Wednesday, May 30. The North Carolina-based grocery chain bans certain ingredients such as high fructose corn syrup, artificial colors and flavors and artificial fats. It carries some local coffee brands, such as Pumphouse and Oceana. (Sarah Peters/The Palm Beach Post)

Earth Fare, a new grocery store on PGA Boulevard west of Military Trail, opens 7 a.m. Wednesday, May 30. The North Carolina-based grocery chain bans certain ingredients such as high fructose corn syrup, artificial colors and flavors and artificial fats. It carries some local coffee brands, such as Pumphouse and Oceana. (Sarah Peters/The Palm Beach Post)

By Sarah Peters – Palm Beach Post Staff Writer

A small but growing North Carolina-based grocery chain that bans high fructose corn syrup, artificial fats and similar ingredients will open its first Palm Beach County store on PGA Boulevard Wednesday.

Earth Fare will open 7 a.m. in the Mainstreet at Midtown development just west of Military Trail. The first 500 shoppers will get gift cards for $5 and up, and one winner will get a $1,000 card. The celebration starts 6:45 a.m.

There will be a DJ, free coffee from Counter Culture and an apple giveaway from Allamanda Elementary School Principal Marilu Garcia, along with demonstrations and samples.

The first Earth Fare started in 1975 as a one-room shop in Asheville, North Carolina, known as “Dinner for the Earth,” the idea being that food grown in an ecologically-friendly way is good for Earth, spokeswoman Laurie Aker said.

The name changed to Earth Fare, and the store began opening other locations in the 1990s.

The 24,000-square-foot Palm Beach Gardens store will be Earth Fare’s 44th location and the ninth in Florida, Aker said. The chain spans 10 states, from Michigan to Florida.

Earth Fare CEO Frank Scorpiniti wouldn’t go into specifics on future plans for stores in Palm Beach County, but during an interview with The Palm Beach Post, he said there are several more planned in South Florida.

“This is a very vibrant community. We think consumers here are looking for the cleanest food to feed themselves and their families,” Scorpiniti said of the Palm Beach Gardens area. “There’s a lot of hustle here, a pretty dense population. This convenience helps them out quite a lot.”

A 25-member community advisory board of parents, city officials and medical professionals met before the store opening to help choose the selection of dairy products, grass-fed meat, seafood, produce and prepared food that will be available.

“That really helps us set the table,” Scorpiniti said.

The brand’s “boot list” of banned ingredients includes added hormones, antibiotics, artificial fats/transfats, high fructose corn syrup, artificial sweeteners, artificial preservatives, bleached or bromated flour and artificial colors or flavors. Even the red velvet cake in the bakery is made with beet juice instead of artificial coloring, Aker said.

There’s an emphasis on local products — local meaning from within 150 miles or less. Bags of Pumphouse and Oceana Coffee are on the shelves, and Funky Buddha beer is in the coolers.

Earth Fare has a partnership with Inland Seafood to get fresh fish, Aker said. The beef is grass-fed, and the sausage is made by hand.

An on-site wellness specialist is available to advise customers on everything from vitamins to makeup. All of the wellness and beauty products are cruelty-free, and some are vegan-friendly.

In its Heirloom Organic Cafe and Juice Bar, Earth Fare says it uses organic fruits, veggies and juices, with no sugar added.

In February, the company announced that it would remove genetically-modified organisms from its Earth Fare brand products.

Does Earth Fare’s approach mean the products are out of a thrifty shopper’s price range?

“There’s truly a little something for everyone’s budget and goals,” Aker said. “It’s all about making healthy eating affordable and accessible.”


RELATED: What is Earth Fare, the giant new store opening in Gardens?

RELATED: New Gardens townhouses on PGA will be priced in high $400,000s and up

  • May
    31

Sprouts Plans Durham Opening Date

May 31, 2018

SSprouts opening in Durham By   – Staff Writer, Triangle Business Journal

Construction is progressing at a new Sprouts Farmers Market in south Durham, setting up the grocer to open this summer.

The Phoenix-based company has announced an opening date of Aug. 22 for its newest location. In the meantime, the company is on the hunt for employees. The grocer is looking to hire about 140 full- and part-time workers before its opening.

The new location, in the shell of a former Harris Teeter at 105 West Highway 54, is the company’s fourth in North Carolina. The first opened on Falls of Neuse Road in north Raleigh last year. Since then, two more stores have opened in Charlotte and Fayetteville.

The south Durham Sprouts store will total 30,000 square feet, which is a smaller-than-typical footprint that representative Kalia Pang says is part of the store’s strategy.

The grocer’s trademark layout concept is to set produce in the center of the store. “That’s the main traffic driver that we’re known for,” Pang says.

The concept will be employed at the south Durham store. The company has been eyeing expansion in the Triangle because of growing interest in fresh and organic produce in the area, Pang says.

The grocer offers regular and organic fruits and vegetables at a price range that is 20 percent to 25 percent below average, Pang says. She attributes the price reduction to the company’s long-standing relationship with its produce providers and its high volume of sales.

Sprouts is the latest grocer to make inroads in the Triangle. Publix, Wegmans and Aldi have all been seeking to enter and expand in the market in recent years.

Read the entire story and view the slideshow here: https://www.bizjournals.com/triangle/news/2018/05/29/sprouts-plans-durham-opening-date.html?ana=e_ae_set4&s=article_du&ed=2018-05-30&u=bDc2yLp2gk5tgmJVY0asZA069e2813&t=1527719229&j=81865361 

  • May
    11

Hunter Halten Joins Ram Realty Advisors in Fort Lauderdale Office

May 11, 2018

 

May 11, 2018

Hunter Halten, Ram Realty AdvisorsFort Lauderdale, FL – Ram Realty Advisors, a leading developer and real estate investment manager focused in the Southeast, is pleased to announce a key new hire: Hunter Halten joined the firm’s Fort Lauderdale office as Director of Development.  Hunter comes to Ram with over 10 years of design and development experience, and moving forward will direct development of multifamily and mixed-use projects in South Florida.  He will report to Hugo Pacanins.

“South Florida’s growth has opened doors to exciting opportunities, to which Ram’s impressive and varied pipeline of Class-A projects is testament’” said Hunter. “Institutional investors trust Ram to deliver exceptional assets, and I’m honored to join the team.”

In his 10 years in the industry, Hunter amassed a wide range of valuable experience.  After earning a Bachelor’s Degree in Civil Engineering from Duke University, and a Master’s Degree in Real Estate Development & Urbanism from the University of Miami, Hunter joined Odebrecht USA, where he managed a public-private partnership with Miami International Airport.  Most recently, Hunter was a valuable member of AHS Residential, where he led the development of nearly 2,000 multifamily units in projects throughout South Florida.

“We’re committed to growing our multifamily and mixed-use portfolio throughout the Southeast US and I believe that Hunter has the perfect combination of experience, knowledge, and relationships to lead that effort,” said Hugo Pacanins, Managing Director, Residential Development at Ram. “Hunter has a strong track record across all aspects of Ram’s business, as well as a strong working knowledge in the markets where we are active. We’re pleased to have him on our team.”

 

ABOUT RAM

Founded in 1978, Ram Realty Advisors is an affiliated group of companies and partnerships that acquire and develop retail, multifamily, and mixed-use properties in select high-growth markets in the Southeast. The company capitalizes investments primarily with Ram-sponsored discretionary private equity funds. Since 1996, the company has deployed in excess of $2.5 billion of capital. Ram is headquartered in Palm Beach Gardens, Florida and has offices in Fort Lauderdale, Florida; Charlotte, North Carolina; and Durham, North Carolina.

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MEDIA CONTACT:

Kelly Owens
Alchemy Communications Group
ko@alchemycommgroup.com
office: 561.935.9953 x. 101
mobile: 561.222.4958

  • May
    2

Laura Marquez Joins Ram Realty Advisors in Palm Beach Gardens, FL Headquarters

May 2, 2018

May 2, 2018

Laura Marquez, Ram Realty AdvisorsPalm Beach Gardens, FL – Ram Realty Advisors, a leading developer and real estate investment manager focused in the Southeast, is pleased to announce a key new hire: Laura Marquez joined the firm’s Palm Beach Gardens headquarters as Fund Controller. Laura comes to Ram with over 10 years of experience and, moving forward will lead the Fund Accounting team in its multiple accounting and reporting functions. She will report to Brianna Ellis.

“Through the years, RAM has demonstrated strong leadership, values, and growth, and I am excited to join such a high caliber team and provide my support and industry knowledge as the company continues to grow and evolve,” said Laura.

Over the last decade in the real estate industry, Laura amassed a wide range of valuable experience. After earning a Bachelor of Science in Business Administration, with a major in Accounting, from the University of Puerto Rico, Laura joined Estefan Enterprises Inc., a music and television production, hospitality, and property management company located in Miami, FL. In 2013, Laura earned a Master’s Degree in Forensic Accounting from Florida Atlantic University and shortly after became a Certified Public Accountant in the State of Florida. Most recently, for the last five years Laura was a valuable member of Rialto Capital Management, a prominent real estate investment company, where she was responsible for managing multiple accounting and reporting aspects of various real estate investment funds with aggregate assets under management of over $1 billion.

“As Ram continues to grow its real estate portfolio throughout the Southeast US, Laura brings a great skill set and the perfect combination of experience, knowledge, and relationships to bolster that effort,” said Brianna Ellis, Ram’s Fund Controller. “Laura will work closely with me and the Fund Accounting team to provide exceptional accounting and reporting to the partners in our real estate investment funds. We are really excited to have Laura on the team.”

 

ABOUT RAM

Founded in 1978, Ram Realty Advisors is an affiliated group of companies and partnerships that acquire and develop retail, multifamily, and mixed-use properties in select high-growth markets in the Southeast. The company capitalizes investments primarily with Ram-sponsored discretionary private equity funds. Since 1996, the company has deployed in excess of $2.5 billion of capital. Ram is headquartered in Palm Beach Gardens, Florida and has offices in Fort Lauderdale, Florida; Charlotte, North Carolina; and Durham, North Carolina.

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MEDIA CONTACT:

Kelly Owens
Alchemy Communications Group
ko@alchemycommgroup.com
office: 561.935.9953 x. 101
mobile: 561.222.4958

  • Apr
    27

Andrew Steffens Joins Ram Realty Advisors to Head New Nashville, TN Office

April 27, 2018

April 27, 2018

Andrew Steffens, Ram Realty AdvisorsNashville, TN – Ram Realty Advisors, a leading developer and real estate investment manager throughout the Southeast, is pleased to announce a key new hire: Andrew Steffens joined the firm’s new Nashville office as Regional Director of Investments. Andrew comes to Ram with over eight years of industry experience and, moving forward will lead its Southeast Division in the development and acquisition of multifamily and retail opportunities.

“I am excited to join Ram Realty Advisors,” said Andrew. “While Ram has been targeting investment opportunities in the area for some time, I am eager to bolster its presence not only in Nashville, but the entire southeast.  Additionally, I am looking forward to expanding my development experience into new asset classes to better respond to market demands.”

During his years in the real estate industry, Andrew amassed a wide range of valuable experience. After earning an MBA from Vanderbilt University with a focus in finance and real estate, Andrew spent three years with Citibank in its debt department.  Andrew later joined a prominent national developer in 2013, where he developed over $200 million in Class A multifamily assets in Nashville’s urban core. In 2017, one of those assets under his leadership won “Amenity of the Year” from Multifamily Executive Magazine.

“We’re committed to growing our portfolio throughout the Southeast U.S. and I believe that Andrew brings the perfect combination of experience, knowledge, and relationships to lead that effort,” said Jim Stine, Ram’s President. “Andrew has a very strong track record in Nashville, as well as a solid working knowledge in the other markets where we are active. We’re pleased to have him on our team.”

ABOUT RAM

Founded in 1978, Ram Realty Advisors is an affiliated group of companies and partnerships that acquire and develop retail and residential properties in select high-growth markets in the Southeast. The company capitalizes investments with Ram-sponsored discretionary private equity funds, and periodically institutional joint ventures. Since 1996, the company has deployed in excess of $2.5 billion of capital. Ram is headquartered in Palm Beach Gardens, Florida and has offices in Fort Lauderdale, Florida; Charlotte, North Carolina; and Durham, North Carolina.

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MEDIA CONTACT:

Kelly Owens
Alchemy Communications Group
ko@alchemycommgroup.com
office: 561.935.9953 x. 101
mobile: 561.222.4958

  • Apr
    24

Tessa Tanis Joins Ram Realty Advisors in Durham, NC Office

April 24, 2018

April 24, 2018

Tessa Tannis, Ram Realty AdvisorsDURHAM, NC – Ram Realty Advisors, a leading developer and real estate investment manager throughout the Southeast, is pleased to announce a key new hire: Tessa Tanis joined the firm’s Durham office as the Director of Investor Relations. Tessa comes to Ram with over 17 years of experience and will participate in all aspects of real estate private equity marketing, including capital formation and investor relations.  She will report to Susan Carter, Executive Vice President of Investment Strategy.

“I am excited to join the talented, energetic team at Ram, and to work closely with both the investment team and our institutional partners.  I look forward to expanding the firm’s investor base and sharing Ram’s impressive track record and 40-year history of success.”

Immediately prior to joining Ram, Tessa was a Portfolio Manager at the North Carolina Retirement System (NCRS), responsible for managing the pension plan’s real estate investments.  Prior to her tenure at NCRS, she served in a variety of investment, asset management, development, and institutional reporting roles at two publicly traded REITs – Highwoods Properties and Developers Diversified Realty.  Tessa has a unique educational background, particularly for the IR position, as she has a B.S. in Public Relations and an M.S. in Accounting, both from Kent State University.  She is a member of the American Institute of CPAs (AICPA) and the Pension Real Estate Association (PREA).

“We’re committed to nurturing and growing our institutional relationships.  Tessa and Susan will be working together to combine their experience, knowledge, and relationships to assist in that effort,” said Casey Cummings, Ram’s Chief Executive Officer. “Tessa has a solid track record in many aspects of the real estate industry, as well as a strong working knowledge of the markets where we are active. We’re pleased to have her on the team.”

ABOUT RAM

Founded in 1978, Ram Realty Advisors is an affiliated group of companies and partnerships that acquire and develop retail, multifamily, and mixed-use properties in select high-growth markets in the Southeast.  The company capitalizes investments primarily with Ram-sponsored discretionary private equity funds.  Since 1996, the company has deployed in excess of $2.5 billion of capital. Ram is headquartered in Palm Beach Gardens, Florida and has offices in Fort Lauderdale, Florida; Charlotte, North Carolina; and Durham, North Carolina.

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MEDIA CONTACT:

Kelly Owens
Alchemy Communications Group
ko@alchemycommgroup.com
office: 561.935.9953 x. 101
mobile: 561.222.4958

  • Apr
    16

With Earth Fare, Ulta and Five Below, Oldsmar’s Woodlands Square was rebuilt to withstand the retail apocalypse

April 16, 2018

April 16, 2018

By Ashley Gurbal Kritzer via Tampa Bay Business Journal

For all of the doom and gloom surrounding brick-and-mortar retail, Woodlands Square in Oldsmar had never suffered too badly.
The 315,000-square-foot shopping center did struggle with some vacancy in the years following the Great Recession, but its owner, Palm Beach Gardens-based Ram Realty Advisors, was pleased with the property.

“I would say that this property recovered pretty nicely even prior to redevelopment,” said Jonathan Porter, Ram’s vice president of asset management and finance.

Still, with the center’s size and position off Tampa Road, Ram felt it could be doing even better. In late 2016, the group kicked off a massive redevelopment effort that brought in new anchor tenants and restaurants and renovated existing portions of the center. A two-way ingress and egress, at the Tampa Road light, was also added to improve access.

What made the redevelopment doable was a lineup of retailers that are in growth mode, even in an era of declining sales and shuttering storefronts. Specialty grocer Earth Fare’s commitment to the center was pivotal for the redevelopment, Porter said; Ulta Beauty drives foot traffic with an in-store salon and aisles of makeup to swatch and sample. Teen discount chain Five Below, where items are all $5 or less, has also succeeded in reeling in shoppers.

Restaurants were a big component of the redevelopment. The proprietors of Craft Street Kitchen, which is already in the center, opened Shaker n Peel, a new concept in the center. Green Market Café, Ruby Tuesday and Eve’s Family Restaurant also remain in the center.

Market timing was also a factor; Ram was comfortable with the spread between the cost of the redevelopment and the returns it could earn on rental rates, Porter said.

That spread, along with the fact that the property is held in a closed-end fund, means that Ram will likely consider selling the property in the months ahead.

“I would like to say we will be owning this thing five years from now because I think the best days are ahead of it,” he said.

Ram didn’t disclose the overall investment in the redevelopment, but renovating the center’s movie theater, AMC 20, represents $7 million alone — costs that the landlord and tenant shared.

“When you have tenants willing to put up their own capital and renovate, you know you’re doing something right,” Porter said.

Ulta, Porter said, isn’t just a win in terms of driving shoppers to the center. Building the new, stand-alone store in the middle of the parking lot — an expansive area that “looked like multiple football fields” — helped bring the center together visually. “It really connected the two sides and made it feel more like one center,” he said.

woodlands-front-11418-7