Chicago — How retailers can best integrate online and brick-and-mortar sales as well as utilize new technology to analyze shopper activity were two of the most prominent discussion points at this year’s Chicago Deal Making & VRN Outlet Convention.
Miami — Berkadia has arranged a $46.9 million loan for the acquisition of Downtown Dadeland, a seven-acre urban retail development located 7250 N. Kendall Drive in Miami.
Raleigh, N.C.— Chevy Chase, Maryland-based Willard Retail has signed an agreement with the Research Triangle Foundation to acquire a 12-acre parcel located in Research Triangle Park.
Charlotte, N.C.— The Spectrum Cos., in partnership with Invesco Real Estate, is developing a mixed-use project located on a five-acre tract linking Charlotte’s South End with its Uptown business district.
Clovis, Calif.— Lucescu Realty has arranged the sale of Clovis Commons Shopping Center in Clovis.
Atlanta— Simon Property Group (NYSE: SPG), the owner and developer best known for Class A malls, has broken ground on the $300 redevelopment of Phipps Plaza, an upscale shopping mall located in Atlanta’s Buckhead district.
Phil Voorhees, executive vice president of CBRE’s National Retail Partners – West, believes investment opportunities exist in all cycles, and this one is no different.Retail Insight sat down with Voorhees recently to talk about those opportunities, and what investors should have on their radars as we close out 2018. RI: Tell us about the current state of the capital market? Voorhees: In our view, this is a great, healthy time for retail capital markets in the West. Investors and lenders clearly differentiate on pricing based on quality and risk. Class …
Todd Siegel, vice president of commercial investments at Passco, doesn’t believe you have to be on the cutting edge of every retail trend to be successful nowadays. He does, however, believe owners need to remain intimately involved with their shoppers. This is particularly true in today’s changing retail landscape where consumer tastes are always evolving and what works for one generation of shopper may not work for another. Rather than target Millennials, for example, Siegel suggests taking a broader approach to consumers and their buying habits. That starts with making …
Phil Voorhees, executive vice president at CBRE, believes the West’s retail investment market is performing well following a slowdown that culminated with the 2016 holiday season. Though investors may not be on a buying spree at the moment, many are focused on asset preservation. Acquisition opportunities remain in secondary and tertiary markets, along with non-core properties that are lacking a grocery anchor. There is some trepidation from buyers that we are long into this real estate cycle, but deals are still getting done and lenders are still willing to lend. …
With a population of 2.1 million, San Bernardino County is upping its retail offerings to keep pace with its residential growth. That growth includes more than 100,000 housing units planned for the region to meet the demands of young families and individuals seeking an affordable quality Southern California lifestyle. Housing activity is encouraging new retail such as High Desert Gateway West in Hesperia, as well as Rialto Marketplace and Rialto Renaissance in Rialto to name a few new developments. Elisa Laurel, economic development coordinator for San Bernardino County, cites a …