Monarch Investments Group Announces Gander Mountain Store in Montgomery
Promenade North is a community center anchored by Home Depot, with national tenants such as Harbor Freight Tools, FedEx Kinko’s, Subway and Republic Finance.
“We are absolutely thrilled to bring such a great retailer to Montgomery, and so soon after we acquired Promenade North” said Monarch’s Managing Principal Stephen M. LaMastra. “Gander Mountain is opening a 45,000-square-foot superstore with its latest and greatest offerings, which will be its first store in the Montgomery market.”
Gander Mountain is one of America’s largest and best-known outdoor sporting goods retailers, with over 100 superstores in 24 states across the United States. Known for its distinctive outdoor-focused interior and exterior, and a huge selection of hunting, fishing and camping sporting goods, Gander Mountain promotes its philosophy of Better Gear, Better Performance, and Better Value throughout the country.
Monarch acquired Promenade North this past spring, and within months of the acquisition had signed a lease to bring in Gander Mountain as its new anchor tenant. Gander Mountain is currently undergoing a rapid expansion in new markets around the country, and this will be its first location in Montgomery, and only its 7th store in Alabama.
LaMastra pointed out that “we are proud to have put their first Montgomery location at Promenade North as we work to improve and develop that corner of the Montgomery market.” And he added that “we have invested millions of dollars in south Montgomery retail, and intend to invest millions more this year and next.”
Monarch has acquired over $100 million of properties over the past year, and plans to acquire another $200 million over the next year.
Monarch was founded by real estate veterans Blair Schlossberg and Moshe Manoah in 2012, and focuses on acquiring retail centers throughout the United States. Monarch now owns and manages over 1.2 million square feet of retail properties., with plans to grow to over 2 million square feet by 2015, and reach 4 million square feet by 2016.
About Monarch Investments Group, L.L.C.
Monarch Investments Group is an Atlanta-based real estate firm engaged in the acquisition, development, and management of retail properties. Monarch acquires retail centers throughout the country, with particular focus on properties in the southeastern United States. Monarch is an affiliate of Crown Holdings Group, founded by Blair Schlossberg and Moshe Manoah in 2009, a large and rapidly growing real estate investment fund in Atlanta with over $500 million of assets acquired to date. Monarch and its affiliates plan to grow to $1 billion of properties under management over the next several years.