LEXINGTON, Ky. (Feb. 7, 2014) — Victorian Square in downtown Lexington is shedding its past and is entering the 21st century showcasing an eclectic mix of retail, dining and entertainment.
With the 60,000 s.f. of retail now 80 percent leased, Jeffrey R. Anderson Real Estate of Cincinnati and The Webb Companies of Lexington are building a mix of local favorites combined with strong regional and national tenants. The 140,000-s.f. Victorian Square property was purchased almost 18 months ago.
Urban Outfitters, Pies and Pints and The Brass Tap have executed leases and are slated to open by the fall of 2014.
All three tenants are opening their first Lexington-area stores.
Targeting the apparel and accessories needs of the 18- to 30-year-old crowd, Urban Outfitters will take up two stories at The Square (in the previous DeSha’s location).
“Urban Outfitters is incredibly excited to debut into the Lexington market alongside our sister brand, Anthropologie, who is already operating at The Mall at Lexington Green,” said Justin Troxell of Urban Outfitters. “The Square offers us a unique opportunity to connect with the heart of the Lexington community, as well as the University of Kentucky and others whose students make up our core customer base and help shape our brand identity.”
Named a top 20 pizzeria in the country with its unique offerings, made-from-scratch menu and local sourcing, Pies and Pints, based in Dayton, Ohio, will open its first Kentucky establishment featuring craft beers and gourmet pizza.
These two new signings join the successful local restaurant Saul Good, opened by Rob Perez last fall, and The Brass Tap, which is owned by former University of Kentucky soccer player Mathew Baum.
“As a UK alum and former athlete, I have a deep-seated love for the city of Lexington. When the opportunity presented itself for me to return to Lexington…I knew my business, The Brass Tap, would be a perfect fit,” said owner Mathew Baum.
Re-branded as “The Square,” the former Victorian Square Shoppes is turning into an exciting mix of tenants.
“The Urban Outfitters store, and the addition of our new eclectic restaurants fits into our vision of making Downtown Lexington a thriving, walkable and desirable place to live, work and play,” said Mark Fallon, vice president of real estate for Jeffrey R. Anderson Real Estate.
Going forward, this block in Downtown Lexington will be promoted as The Square.
“At the outset, we knew it was time for a re-invention and re-thinking of Victorian Square,” Fallon said.
“We think that The Square represents a fresh, updated feel to a location that has long been a favorite destination for the Bluegrass region.”
The success of the retail is opening up new opportunities on the upper levels of the project.
Office space inquiries have gained momentum, and what was once designed as second story retail has been repositioned for office use. Current office users include various commercial tenants on the third floor, a fourth floor Artist Attic, and the Lexington Convention and Visitors Bureau.
“With the solid mix of retail tenants on the first floor, and the upcoming renovation of the Rupp Arena District, office users are viewing The Square as a tremendously dynamic location,” said Dudley Webb of The Webb Companies. “We have always believed in this special block in Downtown Lexington, and it is exciting to see the momentum that is occurring.”
Listed on the National Register of Historic Buildings, The Square is a 140,000-s.f. complex of buildings encompassing nearly an entire city block in downtown Lexington, adjacent to Rupp Arena and the Convention Center. The redevelopment project is financed by Huntington Bank, and is owned by a Joint Venture Partnership between Jeffrey R. Anderson Real Estate, Inc. of Cincinnati and The Webb Companies of Lexington.