Sharif Plaza Sees New Lease After Revamp

After deciding to revamp an aging shopping center with visibility on Howe Avenue, the investment is starting to pay off for the owners of Sharif Plaza.

Within the last week, Happy Day Spa opened in 6,000 square feet on the center on 1338 Howe Ave., proving a complement to the Sharif Jewelers store already occupying about 4,100 square feet in the plaza’s other building.

Daniel Mueller, a senior associate at Turton Commercial Real Estate who worked on the lease, said the plaza’s owners saw new commercial activity elsewhere in their neighborhood and wanted to tap into it.

“Originally, they had a building that was basically falling down,” he said. “What they have now is like a Class A status.”

The redevelopment, which included adding features such Jerusalem marble to the exteriors and rebuilding both buildings, wrapped up about a month ago. With Happy Day Spa now open, the next goal is to fill about 6,000 square feet of remaining end-cap space in the building Sharif is in.

Given the existing tenants are jewelry and a day spa, Mueller said, an ideal tenant might be something such as a bridal shop to create a nexus of stores likely to attract women or those shopping for them. The center already is seeing an increase in traffic, so much so that the owners had to get a cross easement for a neighboring parking lot for Denny’s and Outback Steakhouse, he said.

“We’ll fill the remaining space in the next three to four months,” he said. “I think Howe Avenue is bettered by all the development we’re seeing in the area.”