Features

Owners are incorporating new uses and tenants that help foster an environment where consumers want to linger. The future of retail has been questioned many times in the last few years, but the sector continues to evolve and overcome the obstacles that arise. Today’s consumers want a gathering place to dine, drink and be entertained, especially after the isolation and stay-at-home mandates they endured throughout the pandemic. With that in mind, owners are redeveloping many underutilized retail properties into new concepts that invigorate the towns in which they reside. Take …

Brokers and developers describe the two-state region as one that poises retailers for success. Retail following rooftops has long been an adage of the commercial real estate industry, and North Carolina and South Carolina are proving to be a case study in that very pattern. Retail brokers and developers working in the two states say that despite the trials of the past few years, the region, which offers a climate friendly to residents and retailers alike, is performing well and proving the calls of retail’s demise alarmist at the least, …

Of all the commercial real estate sectors, retail has inarguably been through more challenges over the last decade with the advent of online shopping and the concurrent influx of people to cities — leaving suburban shopping centers and malls to struggle for tenants — and then, of course, the pandemic. Many retailers, developers and owners simply gave up. Heritage Partners CEO Terry Richardson saw opportunity. “We have developed, owned and managed my own properties, constantly strategizing for the best location, tenant mix, financial returns — and monitoring trends,” says Richardson. …

Brokers and developers say the region, where retail is outperforming expectations, offers a warm embrace and opportunity for residents and retailers alike. Skies aren’t the only thing that are sunny in North Florida as the region’s retail market is exceeding expectations and defying macroeconomic headwinds. Michael McNaughton, chief operating officer at Sleiman — a shopping center owner and developer based in Jacksonville — says that the region’s outlook is “extremely bright” heading into the new year. Though not without their challenges, recent months have seen strong property-level performance of retail …

On the banks of the Tennessee River, Urban Story Ventures is planning a 120-acre mixed-use, $4 billion development called The Bend that promises to enliven downtown Chattanooga — a city that already has a vibrant arts and entertainment scene.  Urban Story purchased the land for the project in 2018. The site originally housed iron and steel mills, and most recently served as a manufacturing campus for Alstom Power, which closed in 2016. The site was remediated in later years. Since acquiring the property, Urban Story has rezoned the property and …