By Simon Hartzell, Director of New Office Sales, NAI Global Retail real estate – it’s not your grandfather’s business anymore. Every aspect of the business is changing. On the technology front, we have artificial intelligence (AI), cryptocurrency, and virtual funding, as well as Matterport and its 3D gallery, which enhances property marketing. On the logistics side, we have the autonomy that comes with driverless cars and commercial delivery trucks. Then there’s Amazon and e-commerce driving the convergence of industrial real estate and retail real estate as supply chain logistics evolve. …
SCB Staff
Retail’s Comeback Calls for Comprehensive Tenant Data to Maximize Investment and Development Strategies
Gone is the so-called “retail apocalypse.” Over the past year, the asset class has made a significant comeback; CBRE states that number of total retail property sales increased by 6.1 percent year-over-year at the end of Q3 2018 — the biggest gain for the sector since 2012. Considering the current level of consumer confidence, the diversification of mixed-use space, and a relatively strong economy, retail will almost certainly continue its steady growth throughout 2019. While this trajectory is promising for the real estate community, it’s also leaving investors and developers …
Developers turn to unique eateries as ammunition in the ‘amenities arms race.’ By David Cohen In an effort to inoculate their mixed-use office and multifamily projects against the threat of e-commerce competitors, developers are increasingly incorporating food halls into their properties to attract tenants. “Food halls are the latest and greatest in the amenities arms race,” says Aaron Jodka, research director at Colliers International in Boston. “While most buildings are able to find ways to add bike storage, a gym, conference spaces or game rooms, not everyone can accommodate a …
Michael Pollack is known as a renovation expert. Looking ahead, he considers some potential new strategies for his portfolio. Interview by Randall Shearin With the Four Corners market in focus this month, Shopping Center Business caught up with one of Arizona’s largest retail landlords, Michael Pollack, CEO of Michael A. Pollack & Associates. Pollack’s Mesa, Arizona-based company has made a name for itself over the past few decades by renovating and rehabbing older centers and making them viable properties that serve the needs of their communities. Here, we get Pollack’s thoughts …
Faris Lee’s Rick Chichester: Consumer Confidence Should Remain at Historic Levels Through 2019
This year got off to an interesting start, considering it ushered in the longest government shutdown in U.S. history. The 35-day shutdown — spanning from Dec. 21, 2018, to Jan. 25, 2019 — caused The Conference Board’s U.S. Consumer Confidence Index to fall from 136.4 points in November 2018 to 128.1 in December 2018. This 8.3-point drop represented the largest single-month dip since July 2015. The index fell another 6.4 points to land at 121.7 in January. In February, the index rebounded, rising to 131.4 and approaching its 18-year high …
Ralph Conti, principal and managing member of Atlanta, Georgia-based RaCo Real Estate, and Svein Dyrkolbotn, a principal of Gainesville, Florida-based Viking Companies, are co-developing Celebration Pointe, a 1 million-plus-square-foot, mixed-use development in Gainesville, Florida. The unique 160-acre project will feature Class A office space, boutique hotels, several types of residential offerings and many first-to-market retail, restaurant and entertainment offerings. Bass Pro Shops, a first to market state-of-the-art Regal Cinemas RPX Theater, a new concept Tommy Hilfiger, Kilwins and a Nike Factory store recently opened, with many more tenants under construction …
Technology can be one of the best tools shopping center owners have at their disposal, says Sandy Sigal, president and CEO of NewMark Merrill Companies. From combating long checkout lines to helping customers locate stores and parking spaces, technology has a huge convenience factor for patrons. It also has a huge convenience factor for owners, as they’re able to collect data from shoppers and event attendees. This data can be harnessed to determine when people shop, where people shop and even to increase tenant success by improving elements of the …
Adding an air of international appeal is one way shopping center owners can diversify their tenant mixes while providing shoppers with a new experience. Barriers with culture, language and differences in laws, however, can make doing business in the U.S. tricky for foreign retailers. David Rabinowitz, partner at Goulston & Storrs and Co-Chair of the firm’s Retail Group, and other attorneys in Goulston’s Retail Industry Group know how to navigate issues based on their years of experience representing international retailers entering the U.S. In fact, today’s experience-driven retail climate has …
Ivan L. Friedman, president and CEO of RCS Real Estate Advisors, has seen his share of real estate cycles. Working on about 40 million square feet of retail per year, Friedman and his firm believe we are in the midst of a long-lasting cycle — but one that is far from the “retail apocalypse” we continue to hear about. This is also a time, Friedman, contends, when retailers are looking at their footprints, determining whether they need less space and whether they’re happy with their rents as compared to their …
Scott M. Holmes is no stranger to RECon. With more than 25 years of experience on the client side of the commercial real estate investment business, Holmes is a veteran of the conference. However, his role has shifted this year, and it was his first RECon as Senior VP and National Director of Retail with Marcus & Millichap. While he saw a lot of familiar faces at this year’s conference, Holmes’ role found him supporting his brokerage teams and reintroducing himself in a different capacity. He spent this conference engaging …