Best Retail Lease

Colliers International’s Senior Vice President Bill Shrader, Vice President David Maxwell and Associate Serena Patterson are a formidable trio; these are the three brokers that are responsible for leasing the 12,000 square foot Carlsbad Windmill Building for $5.5 million. It comes as no surprise that Shrader, Maxwell and Patterson, which together make up the Urban Property Team at the La Jolla office, received the Best Retail Lease Award at the San Diego Business Journal’s 2019 Commercial Real Estate Awards earlier this month. When the restaurant space of the Carlsbad Windmill Building was vacated in 2016, it was not only left without a tenant, but it was also left with water damage and a leaking roof, among other signs of wear. The team put its brain power together and decided the best strategy was to bring along restaurant entrepreneur James Markham and, instead of securing a national credit tenant for the sole reason of supporting the surrounding retail amenities and the attached hotel, the space would be converted into a nontraditional concept: a food hall. The Windmill Food Hall, located at 890 Palomar Airport Road near Interstate 5 and Palomar Airport Road, will feature 11 restaurant concepts and a full bar. Although its opening has faced numerous construction-related delays, Colliers International says it will open in the next few months. And, much like other successful food halls around town, including Liberty Public Market and the Little Italy Food Hall, the Windmill Food Hall will become the first food hall concept in North San Diego County and bring much-needed life into the landmark building.