Davis acquires Glen Isle Center

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The number of properties under the Warren Davis Properties name is steadily growing. Last August, the commercial real estate company purchased the Glen Isle Center on South Glenstone from John Q. Hammons, the center's original developer.|ret||ret||tab|

This most recent transaction is Warren Davis Properties' first shopping center in the Springfield market. The company owns three shopping centers in Bolivar and one in Monett. Davis' other Springfield properties are the Woodruff Building, the McDaniel Building, the Heer's building, the building on the square that houses Bank of America, buildings occupied by Purcell Tire Co. and Toro Turf Professionals, and two downtown parking garages. |ret||ret||tab|

The purchase of the 74,000-square-foot Glen Isle Center, which Davis Properties had been looking at for a couple of years, brings the company's total to about 1 million square feet of properties, according to Ron Shepherd, property manager.|ret||ret||tab|

"This just adds to the growing number of properties Mr. Davis has accumulated," Shepherd said. "It's all part of our trying to be diversified."|ret||ret||tab|

"It's all part of our trying to be diversified."|ret||ret||tab|

Shepherd said the company is interested in all commercial real estate, whether it be office, warehouse or retail space.|ret||ret||tab|

"Our purpose is to purchase properties strictly for the rental income," he added. "We are always trying to increase our portfolio. Warren buys second generation buildings, fixes them up and leases them."|ret||ret||tab|

There is now 4,000 square feet available for lease at the Glen Isle Center, which Shepherd said may be split into two spaces and can be rented at $9 to $12 per square foot. |ret||ret||tab|

This sale divests Hammons of his retail holdings in Springfield, as he has been shifting his focus to hotel development and the University Plaza and Jordan Valley Park areas, according to Mark Harrell, who handles Hammons' property transactions as broker of Plaza Realty & Management Services Inc. Hammons sold Southern Hills Shopping Center a couple of years ago.|ret||ret||tab|

"Mr. Hammons has been selling his nonhotel properties and is reinvesting in his hotel developments," Harrell said.|ret||ret||tab|

Mark Davis, owner-member of Warren Davis Properties and the company's in-house Realtor, said the acquisition was an easy decision based on where the property is located. |ret||ret||tab|

"The real big thing about Glen Isle is the location. It is one of the most recognizable shopping centers in town."|ret||ret||tab|

While new lighting has already been installed in the center's parking lot, further renovations are planned. Shepherd said a complete renovation of the parking lot will begin in the spring.|ret||ret||tab|

"We intend to do it with curbing and greenspace and certainly make it a whole lot safer place," he said.|ret||ret||tab|

Esterly Schneider & Associates is the architect redesigning the Glen Isle parking lot, which receives heavy traffic from the post office on the north end and Old Country Buffet on the south end. Shepherd said the goal is to make the lot more user-friendly and more attractive. |ret||ret||tab|

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Shepherd said the company is interested in all commercial real estate, whether it be office, warehouse or retail space.|ret||ret||tab|

"Our purpose is to purchase properties strictly for the rental income," he added. "We are always trying to increase our portfolio. Warren buys second generation buildings, fixes them up and leases them."|ret||ret||tab|

There is now 4,000 square feet available for lease at the Glen Isle Center, which Shepherd said may be split into two spaces and can be rented at $9 to $12 per square foot. |ret||ret||tab|

This sale represents the last of Hammons' retail holdings in Springfield, as he has been shifting his focus to hotel development and the University Plaza and Jordan Valley Park areas, according to Mark Harrell, who handles Hammons' property transactions as broker of Plaza Realty & Management Services Inc. Hammons sold Southern Hills Shopping Center a couple of years ago.|ret||ret||tab|

"Mr. Hammons has been selling his nonhotel properties and is reinvesting in his hotel developments," Harrell said.|ret||ret||tab|

Mark Davis, owner, member of Warren Davis Properties and the company's in-house Realtor, said the acquisition was an easy decision based on where the property is located. |ret||ret||tab|

"The real big thing about Glen Isle is the location. It is one of the most recognizable shopping centers in town."|ret||ret||tab|

While new lighting has already been installed in the center's parking lot, further renovations are planned. Shepherd said a complete renovation of the parking lot will begin in the spring.|ret||ret||tab|

"We intend to do it with curbing and greenspace and certainly make it a whole lot safer place," he said.|ret||ret||tab|

Esterly Schneider & Associates is the architect re-designing the Glen Isle parking lot, which receives heavy traffic from the Post Office on the north end and Old Country Buffet on the south end. Shepherd said the goal is to make the lot more user-friendly and more attractive. |ret||ret||tab|

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