Uptown Cheapskate, a retail store that sells new and gently used designer goods, has signed a lease at Madison Corners, New Forum Partners’ latest acquisition. Local real estate firm New Forum, Inc. launched the dedicated platform, New Forum Partners, focused exclusively on new development and acquisitions in Summer 2018.
Uptown Cheapskate will occupy 5,500 square feet of retail space located at 5033 South Blvd., Suite E, in the neighborhood retail center. Customers can bring in their gently used clothes, shoes, bags and accessories, and snag deals on brands they love. Different than a consignment store where you have to wait for your items to sell to get paid, Uptown Cheapskate pays cash on the spot, or offers 25% MORE in store credit. At Uptown Cheapskate, you’ll find new and gently used clothes hand-selected for quality, style, and condition from brands like Lilly Pulitzer, Tory Burch, Anthropologie, Lulu Lemon, J. Crew, Banana Republic, Ted Baker, and more at a fraction of retail prices. Uptown Cheapskate also prides itself on validating and verifying designer authenticity by the latest technology. Uptown is proud to say they were the 1st in North Carolina that uses this technology called Entrupy. The retail store will hire between 20-25 employees ranging from management and part-time sales positions. Uptown Cheapskate is set to open by the end of 2019.
“We make resell easy,” said Leigh Frasso, Franchise Owner of Uptown Cheapskate. “Our guests can come in any day of the week with no appointment and receive cash on the spot for their gently used items.”
Madison Corners will be Uptown Cheapskate Franchise Owners Leigh and Jim Frasso’s third location in North Carolina, with stores in Huntersville and University. Their locations specifically cater to all styles and all sizes of their clientele aged 15-60 years old. “Madison Corners was the perfect spot to open our third location,” said Jim Frasso, Franchise Owner of Uptown Cheapskate. “The tremendous growth in this area, the accessibility of the roadways, parking and size of our retail store make this location ideal for our customers.”
What sets this franchise apart from similar concepts are the personal touches you feel from an upscale boutique vibe, to the high standard of customer service their associates provide the guests. Customers can expect a knowledgeable staff trained to help pick out outfits to help teach you about designer clothing and accessories. “We look forward to serving the South Charlotte area,” added Frasso.
“We are so excited to have Uptown Cheapskate choose Madison Corners,” said William Hodges of New Forum Partners. “To have an operator with Mr. Frasso’s expertise open their business with us further validates Madison Corners as a quality option for retailers to access the booming South End and Park Road submarkets.”
Madison Corners is a 34,710-square-foot retail strip center and a 6,600-square-foot outparcel. It has received over $1 million in capital improvements. The renovation includes a re-designed exterior, landscaping, parking lot improvements, new roof, new painting & wood features & signage.
Madison Corners is in the heart of the rapidly growing Madison Park, Montclaire and Archdale communities, approximately three miles northwest of South Park and seven miles south of Uptown Charlotte. More than 91,700 residents earning an average household income of $103,279 live within a three-mile radius of the center.
Jay Mitchener of Thrift Commercial represented the landlord on the lease transaction. Julie Gardner of Katz & Associates represented the tenant.
New Forum Partners is currently seeking tenants to complement the booming Madison Park neighborhood such as high-end, fast casual restaurants, coffee shops, yoga and fitness users, bakeries or markets. Retail leasing of Madison Corners is handled through Jay Mitchener at Thrift Commercial.
About Uptown Cheapskate
Uptown Cheapskate has more than 70 stores nationwide and buys what you loved yesterday and sells what you want today. Each store is independently owned and operated by local small business owners. The upscale nature of Uptown Cheapskate sets them apart from thrift stores because these stores only buy, sell, and trade current clothing and fashion seen at retail stores in the previous 18 to 24 months. For more information on this franchise or for employment opportunities please email JLFRAZLLC@gmail.com
About New Forum Partners
Founded in 2018 to capitalize on New Forum’s development experience in an opportunistic real estate market, New Forum Partners primary focus is new development opportunities with additional lines of business in third party, fee-based development as well as acquisitions.
About New Forum
Based in Charlotte, New Forum is a real estate development, management and operating firm with a portfolio that includes office, retail, hotel, medical, multifamily and senior living. The company specializes in mixed-use communities that create a sense of place such as Ayrsley, a master-planned development in Steele Creek that includes more than two million square feet of office and retail space, four hotels, single-family homes, luxury apartments, restaurants and a 14-screen movie theater. For more information about New Forum visit www.newforum.net.