From The Magazine

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 …

Philadelphia is known for many things, from being the City of Brotherly Love to a city rich in history, art, culture and food. As a result, the region is desirable for many residents and visitors and has been recognized in real estate circles for its housing and retail development opportunities.  Throughout the pandemic, greater Philadelphia has lent itself to commuters, residents, tourists and hybrid employers by providing convenient access to other East Coast cities, vast amenities and outdoor recreation spaces, as well as unique dining, entertainment and shopping experiences.  Recognizing …

This summer, Canadian women’s fashion retailer Aritzia signed a lease for 46,000 square feet at 555 N. Michigan Ave. for its fourth Chicago-area location. At the time of the lease signing, the deal represented the largest completed transaction on the Magnificent Mile in nearly a decade and the first flagship deal since 2019, according to CBRE.  Athletic footwear and apparel retailer HOKA opened its first Chicago pop-up store earlier this year in new ground-floor retail space at 444 N. Michigan Ave., an office building rising 36 stories. HOKA opened its …

It’s a challenging world right now. Inflation, rising interest rates, persistent supply chain lags and labor shortages are affecting the retail and industry. That’s to say nothing of the always changing retail environment.  But there are also got consumers who are ready to put COVID behind them. Who are looking for a reason to venture out, be entertained and spend some money (though maybe not as much money, thanks to inflation). You also have shopping center owners who are quite eager to give these consumers what they want.  While architects …

During the pandemic in 2020, there was a pause in the retail investment market once the stay-at-home orders were implemented. However, the single-tenant and multi-tenant retail pad properties quickly picked up momentum in the third and fourth quarters, but transactions for grocery-anchored shopping centers were relatively few. In 2021, the velocity of transactions for all retail product types, including grocery-anchored shopping centers, shifted into an unprecedented gear, particularly in the second half of the year. For example, Hanley Investment Group closed 90 deals in 90 days in Q4 2021 and …

By mid-2021, retail properties were back in favor with investors and the active buyer pool had expanded from single-tenant and multi-tenant retail pads to grocery-anchored shopping centers. With the unprecedented buyer demand and limited inventory of institutional quality retail investments for sale, some owners of shopping centers with a collection of junior box anchors have successfully tested the buyer market and heralded the latest retail investment category to make a comeback, the power centers. However, given the recent 100-basis-point rise in the 10-year treasury rate and increasing inflationary pressures, the …