The shopping center used to compete with the shopping center down the street. Today, it’s competing with convenience — and the owners who understand that distinction are pulling ahead. In this Retail Insight interview from ICSC Las Vegas, reporter Nellie Day sits down with Carrie Smith and Greg Matus, both executive vice presidents at Franklin Street, to unpack what’s actually driving success in today’s retail real estate market. Their read on the market: the winners are focused on dwell time and visit frequency (instead of trade area radius), curating tenant …
SCB Staff
When local restaurants are outperforming their national chain averages by as much as 25 percent, retailers tend to pay attention. In this Retail Insight interview from ICSC Las Vegas, reporter Nellie Day sits down with Melissa McClain, economic development manager for the City of Moreno Valley, to explore what’s driving one of Southern California’s most compelling — and still underleveraged — retail markets. With 215,000 residents and 2.4 million people within a 20-mile trade radius, the city has quietly built the consumer base retailers look for. Average household incomes have …
Austin has crossed a milestone — the city of Austin population now tops 1 million, making it the 12th most populous city in the U.S. — and the retail momentum is matching the growth. In this Retail Insight interview from ICSC Las Vegas, reporter Nellie Day sits down with Davon Barbour, president & CEO of the Downtown Austin Alliance, to talk about what’s driving deals in a city that’s attracting big names: Justin Timberlake is opening The Twelve Thirty Club in the heart of downtown, and Kevin Durant is partnering …
The department store is gone. The movie theater struggled. So what’s today’s anchor tenant? For PB Development, the answer is youth sports — and their Bluhawk project in Overland Park, Kansas, is making the case. In this Retail Insight interview from ICSC Las Vegas, reporter Nellie Day sits down with Bart Lowen, vice president of development for PB Development, to discuss youth sports — a $50 billion industry that, as Lowen puts it, is as certain as death and taxes. The 600,000-square-foot Bluhawk mixed-use development is anchored by a 400,000-square-foot …
San Bernardino County — the largest county in the contiguous U.S. — is making a compelling case for retail investment, and the numbers back it up. In this Retail Insight interview at ICSC Las Vegas, reporter Nellie Day sits down with Deepak Bahl, acting economic development director for San Bernardino County, to unpack what’s driving one of Southern California’s most dynamic retail markets. With a population of 2.2 million, a three-hour drive market reaching 23 million people, and median household incomes rising as much as 40 percent since 2019 in …
Monroe, La. — Marcus & Millichap has brokered the $10.5 million sale of The Plaza One Shopping Center, a retail center located in Monroe. Super 1 Foods anchors the property, which totals 96,765 square feet. The center was fully leased at the time of sale. Zach Taylor and Philip Levy of Marcus & Millichap represented the seller, a Texas-based private investor, in the transaction. Steve Greer assisted in closing the sale as the Louisiana broker of record.
Orange County Private Partnership Sells KFC-Occupied Location in Perris, California in $3.7M
PERRIS, CALIF. — An Orange County, Calif.-based private partnership has completed the disposition of a restaurant property located at 2560 N. Perris Blvd. in Perris. A Riverside County, Calif.-based local family office acquired the asset for $3.7 million, or $1,706.82 per square foot. KFC occupies the single-tenant 2,200-square-foot building, which features a drive-thru, on a net-lease basis. The property was built in 2022. Bill Asher and Jeff Lefko of Hanley Investment Group, along with Greg Bedell of Progressive Real Estate Partners, represented the seller, while Howard Rosenthal and Guy Excell …
Phoenix – Shopping center owner Michael A. Pollack Real Estate Investments has sold five centers in the Phoenix area in separate transactions for a total of $32 million. The transactions took place in the fourth quarter of 2021. The company sold Trailside Center in Mesa for $2.7 million; the company had owned the property since 1994. In Phoenix, the company sold Tower Plaza along Cave Creek Road for $2.4 million. In Peoria, Pollack sold the 67,000-square-foot Olive Plaza for $4.6 million. Pollack sold Apache Central Center in Tempe to the …
Unibail-Rodamco-Westfield (URW) is paving the way for emerging and digital brands’ entrance into physical spaces — particularly re-envisioned common areas of retail spaces. Through the company’s innovative approach toward holiday markets, URW brings new and exciting opportunities for digital brands to its centers. With more than 30 years of industry experience, Amy Alyeshmerni, vice president of asset strategy and innovation – business development/brand ventures, recently looked back at how her mindset evolved as she began working closely with URW’s Digital Incubation programs. She shared her insights during a panel at …
Creativity is the name of the game when it comes to designing and selling sponsorships and experiences at America’s shopping malls. That was the subject of a panel discussion, “Sponsorship and Experiential Marketing Trends,” at the InterFace Conference Group’s Ancillary Retail Expo 2020, held Feb. 3 and 4 at the New Orleans Marriott. Panelists detailed how sponsorships can bring added revenue to retail centers both large and small, and the best ways to do so in today’s retail world. Editor’s note: InterFace Conference Group is a division of France Media …