From The Magazine

Galleria-at-White-Plains_N.Y.

The complex projects encompass many moving parts and players. Keeping them all on the same page is crucial to success. If the whole mall redevelopment thing doesn’t work out, you can always become a marriage counselor. Perhaps some additional training and education would be needed for such a career transition to actually take place. But mall and shopping center owners who undertake high-risk redevelopments undoubtedly have firsthand appreciation of the importance of providing clear and courteous communication to the many different groups they deal with, from municipal leaders to longstanding …

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Pins-Mechanical

From pickleball to gaming to live music, landlords create hot new combinations that appeal to a variety of consumers and boost sales.  Sports and entertainment destinations offer several benefits to retail properties — they boost foot traffic, encourage consumers to linger, complement traditional retail and provide opportunities for refilling vacancies. Pickleball, gaming and music venues are some of the most prolific concepts in today’s experiential marketplace.  “These users draw consumers into a development,” says Tim Katt, managing director of Transwestern Real Estate’s sports and entertainment advisory group. “Their ability to …

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Mixed Use Construction Article Image

Though construction headwinds persist, the potential of mixed-use projects motivates many developers to keep going. Some of today’s most successful projects can be described as a melting pot of sorts. That’s because they internalize the three Fs: flexible, financeable and functional — or, should we say, multi-functional. “Mixed-use concepts, in particular, seem to be the 401(k) of real estate development,” says Matt Silvers, vice president of Project Management Advisors in Austin, Texas. “They provide a bit of everything for everyone, including investors, and the mix of uses nicely hedges market …

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River-Edge

Mixed-use properties have matured as communities, shoppers and end-users have realized the benefits they offer. While many argue that mixed-use properties have been around since the dawn of shopping (think residential atop retail), purpose-built mixed-use properties have really been en vogue for the past 20 years. Combining retail with multifamily, hotel, office and other property types has been successful for developers, who often have to partner with each other based on sector expertise to get mixed-use projects done. Initially skeptical, municipalities have warmed to the concept as they see the …

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Kansas City Power and Light District

From the outside, the story of the Kansas City Power & Light District seems like a familiar one: an urban revitalization fueled by a succession of development milestones. Looking closer — and talking with people who have been a part of the journey — reveals something much more interesting — even remarkable. Today, as the project celebrates its 15-year anniversary, the $1 billion mixed-use district that received the Urban Land Institute Award of Excellence in 2009 isn’t just going strong, it’s reaching new heights. In the process, the Power & …

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Department-of-Wonder_Houston

The economy has constricted consumers’ wallets, but the desire for entertainment has kept them spending…on the right concepts.  Rising prices have made just about everyone conscientious about their spending. That, naturally, includes shoppers.  Dixon Greenwood, principal at Mountain Mile in Pigeon Forge, Tennessee, notes 2023 overall tax receipts at the dining, shopping, lodging and entertainment destination are down more than 10 percent from the company’s 2022 numbers. “Now, that’s off some extreme growth during and after COVID, so numbers are still very good, but what it says pretty clearly is …

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East-River-Bayou

Amid population and job growth, retailers see the Lone Star State an ideal territory for expansion. But tight conditions and high construction costs are creating challenges. The economic growth engine that is Texas continues to drive retail demand. With many major markets near full occupancy in urban and mature suburban neighborhoods, developers who launched grocery-anchored and other projects in the Dallas-Fort Worth (DFW) Metroplex as well as in and around Austin and Houston are well-positioned to take advantage of the fast-growing regions.  That’s especially true as the increasing cost of …

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Slim-Chickens

Food-and-beverage operators compete for coveted real estate in the Southeast.  Chicken and coffee are a somewhat unlikely, if alliterative, pair. In the Southeast though, they are currently linked by virtue of the so-called “Chicken and Coffee Wars.”  Previously, a similarly martial and poultry-centric moniker — The Chicken Sandwich Wars — described the fierce competition and marketing trends among fast food brands as they battled to create the best chicken sandwich — or at least the one with the best performance among consumers.  Now, amongst brokers in the Southeast region, Chicken …

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Moe's

With more than 600 locations nationwide (and counting), Atlanta-based Moe’s Southwest Grill remains focused on growth — and on flexibility. According to its chief brand officer, Tory Bartlett, Moe’s will continue expanding in new markets and in new formats to meet guests where they are. Thanks to the introduction of new prototypes, Moe’s is able to provide franchisees with flexibility to develop with competitive real estate and in more urban environments, as well as prioritize the shift in consumer demand from in-restaurant dining to off-premise businesses. In December 2022, after …

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Junction-Krog-District-Portman

No market is immune to the consequences of current economic conditions. Certain sectors of commercial real estate, though, are better equipped to weather headwinds, primarily rising interest rates. Retail as an asset class has proven itself to be an exemplar of this. Brokers and developers say that this is especially true of Atlanta’s retail market.  In the words of Dotan Zuckerman, executive vice president of retail with Portman Holdings, “retail is the shining star” and one that is “always capable of evolving.” But is difficult to participate in the economy …

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