Well-known commercial real estate tycoon and Miami Heat owner Ranaan Katz lists a lot of accomplishments in his life, but few make him as proud as the ability to add new jobs to an uncertain American economy. He knows that, at a time when many are seeking stability – or just a steady paycheck – any kind of new commercial development can be a positive step in the right direction.
“When new jobs are created, especially through commercial real estate development, it gives a real boost to the surrounding community,” he says. “That’s something everyone at RK Centers is proud of.”
Recently, we had a chance to see some of the latest Ranaan Katz redevelopment projects up close for ourselves. Here are three of the most prominent:
RK Swansea Place in Swansea, MA
Anchored by major retailers Target and Marshalls, this shopping center was completely renovated and redesigned from the ground up. Conveniently located next to Interstate 95, which brings more than 75,000 drivers past the center every day, it gives Massachusetts shoppers an easy way to grab the essentials on the way home from work, or to visit their favorite stores without having to go far.
Just as importantly, Katz says, it brings well-known brands, and valuable jobs, to the area. “When you have established companies moving in, that creates a lot of different openings for job seekers.” He also notes that the presence of anchor stores can create entrepreneurial opportunities in other locations, along with accompanying jobs at smaller stores.
North River Plaza in Pembroke, MA
With more than 240,000 sq. ft. of prime retail space located near Route 3 in Pembroke, this property had huge investment potential written all over it. With the improvements that are on the way – and the pull of existing retailers Staples and Kohl’s – it’s a location that is sure to attract business from the surrounding community.
More than that, Katz points out that he sees the potential for more job creation in Pembroke, too. “As this shopping center grows, the existing stores should get busier and new ones will come in to grow alongside them. That should mean more places to work, and more money coming into the local government and economy.”
RK California Club in Miami, FL
Located adjacent to Land Shark Road – famed home of the Dolphins and Marlins – this project involved very extensive renovation to take away the “mall-style” look and feel that it formerly had. What has remained is a fresh, updated, and convenient shopping center anchored by Winn-Dixie, Citi Financial, and others.
Katz notes that projects like these don’t just reinvigorate the retailers within them, but also provide a boost to the surrounding area and its economy. “From new jobs to shopping access and even government revenue, it’s a win-win situation for all involved.”
For all the talk that politicians and economists devote to creating new jobs in America, few people understand the real process involved better than real estate tycoon Ranaan Katz. Ask him and he’ll tell you that better retail locations lead to bigger business opportunities… and new jobs as well. It’s an under-appreciated part of commercial real estate, but one that he feels particularly proud of.