AEI Helps LBG Acquire Richmond’s Hilltop Mall

Holly Neber

WALNUT CREEK, CA (Dec. 11, 2017) – With the help of AEI Consultants, a leading commercial real estate assessment and consulting firm, LBG Real Estate Companies is breathing new life into Richmond’s 1.1 million-square-foot shopping mall.

The Hilltop Mall went into foreclosure nearly five years ago due to high vacancy rates and a lack of consumer traffic. Since that time, residents of Richmond have been holding onto hope for a Hilltop Mall comeback. In July, LBG Real Estate Companies, in conjunction with Aviva Investors, purchased the Hilltop Mall.

Before the acquisition process was begun, LBG hired AEI to complete a full site evaluation, including environmental factors and facility condition. AEI also provided a cost and maintenance assessment to LBG.

“When we were approached about this project, we were very excited,” says Holly Neber, CEO of AEI Consultants. “We immediately saw the potential, both in the property itself, and just as importantly, in what investment and redevelopment of the site could do for the community of Richmond. 

Leslie Lundin

“As a company, we are intensely focused on the true positive impact our work and our clients’ work can have on the value and the lifestyle of communities, and we wanted to be a part of this important project.”

Following its acquisition, The Hilltop Mall has undergone a rebranding and will now be known as The Shops at Hilltop. The redevelopment is set to begin with significant upgrades to both the property’s exterior and interior, as well as the signage surrounding the property.

Additionally, The Shops at Hilltop is expected to have mixed uses including retail, office space, and housing. LBG and Aviva created these plans in order to appeal to a wider variety of tenants, as well as to the area’s shoppers.

The Shops at Hilltop, 2200 Hilltop Mall Road, Richmond, VA

This redevelopment project offers Richmond residents a location that not only provides multi-uses within the community, but also will act as a draw for visitors, enhancing the local economy, notes Neber.

“The City had previously re-zoned the property to include more than just retail. We decided to take full advantage of that smart planning,” states Leslie Lundin, Managing Partner for LBG. “With 77 acres at our disposal, it made perfect sense to create a mixed-use development that encompasses all of the community’s needs.”

The Shops at Hilltop is located at 2200 Hilltop Mall Road in Richmond, California and is in the initial stages of development. Anticipated tenant offerings include a movie theater, live theater, food court, grocery store, several restaurants, stores, and services, as well as residential units.

For more information on this transaction, please contact:

Jordan Kruk / Elisabeth Manville

Brower, Miller & Cole

(949) 955-7940

jkruk@browermillercole.com

Draper and Kramer’s Anthony Kramer Celebrates 50th Anniversary with Firm

Draper and Kramer CEO Forrest Bailey, left, with his uncle Anthony Kramer, who recently celebrated 50 years with the family-owned firm, where he works as executive vice president and director.

                                                                                                 

CHICAGO, IL – During a recent celebration at its Chicago headquarters, family-owned real estate firm Draper and Kramer, Incorporated, honored Anthony Kramer, executive vice president and director, for his 50 years with the company.

 Kramer, the grandson of Draper and Kramer co-founder Adolph Kramer, is currently the longest-serving family member at the five-generation company. He represents his family’s third generation involved with the firm since its founding by Arthur Draper and Adolph Kramer in 1893.

 Kramer is joined by his nephew Forrest D. Bailey, Draper and Kramer CEO and fourth-generation family member, in continuing Draper and Kramer’s strong legacy as a privately held, full-service real estate company.

Madeleine Bailey

The family’s fourth generation is also represented by Kramer’s son, Tim Kramer, property operations specialist, while Bailey’s children – Madeleine Bailey, director of communications, and Nick Bailey, project manager – are the family’s fifth generation at Draper and Kramer.

 “We are all incredibly proud of Tony’s service to Draper and Kramer and the role he has played in growing the company and ensuring its continued success,” said Bailey.

“Family-owned businesses with a history as long as ours are rare in any industry, so the fact that we have not only thrived in real estate for five generations, but also continue to be led by direct descendants of our founders is a true testament to the dedication of our family and especially members like Tony who have devoted their careers to this firm.”

Tim  Kramer

 During his tenure with Draper and Kramer, Kramer has been involved in nearly every division of the firm, including residential and commercial management as well as mortgage production. 

He also served on Draper and Kramer’s board of directors for more than 40 years, from 1973 to 2015.

At present, he oversees Draper and Kramer Condominios, the firm’s property management partnership in Santiago, Chile, that has a portfolio of more than 30 communities in the Santiago area.

A licensed real estate managing broker in Illinois, Kramer is a graduate of Colby College and also received a master’s degree in city planning from Harvard University’s Graduate School of Design.

For more information on this news release, please contact:

Sarah Lyons, slyons@taylorjohnson.com, (312) 267-4520

Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528

www.draperandkramer.com.