Malls

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Branch Properties Plans Mixed-Use Redevelopment of 492,798-Square-Foot Lakeshore Mall in Gainesville, Georgia

by Hayden Spiess November 26, 2024

Gainesville, Ga. — Branch Properties has announced plans for the redevelopment of Lakeshore Mall, a 492,798-square-foot retail property located in Gainesville, roughly 55 miles northeast of Atlanta. Plans for the mixed-use redevelopment include 305,444 square feet of retail space, as well as 652 multifamily units and 38,200 square feet of outdoor community greenspace. The property will also have the capacity for the future development of a hotel and townhomes. Current Lakeshore Mall anchors Dick’s Sporting Goods and Belk will remain open throughout the project, with the former relocating to a new …

November 26, 2024

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PREIT Secures $80 Million Refinancing for Woodland Mall in Grand Rapids, Michigan

by Hayden Spiess November 26, 2024

Grand Rapids, Mich. — PREIT has received an $80 million mortgage for the refinancing of Woodland Mall in Grand Rapids. Tenants at the recently redeveloped property include Von Maur, The Cheesecake Factory, Sephora and Urban Outfitters. According to the company, the refinancing will save PREIT roughly $5 million in interest expense over the life of the loan. JLL arranged the financing through a commercial mortgage-backed security (CMBS) lender.

November 26, 2024

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Restaurants Execute Expansion Plans with Measured Approaches

by Sarah Daniels November 19, 2024

To say that the restaurant industry is sending mixed signals could be the understatement of the year. The National Restaurant Association expected restaurant sales in 2024 to top $1 trillion for the first time ever. But as the year has progressed, the number of operators who anticipated sales growth in the coming months dipped to 28 percent in August from 40 percent in April amid inflation and economic uncertainty, according to the organization’s latest performance index survey. At the same time, the fortunes of the major restaurant segments are largely …

November 19, 2024

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NewMark Merrill: Harness Retail Data to Improve Customer Experience, Streamline Operations

by Sarah Daniels June 5, 2024

Sandy Sigal argues that the evolving fields of automation and artificial intelligence (AI) are a perfect fit for retail. “We generate the most relevant data on an everyday basis, and that data affects the outcomes and success of our centers,” explains Sigal. In a discussion on the pivotal role of technology in the retail sector, Sigal emphasizes that understanding customer behavior is paramount for shopping center owners. By leveraging technology to track customer movement and sentiment — where they come from, how long they stay, how they feel about …

June 5, 2024

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NewMark Merrill: AI, Automation Will Benefit In-Person Retail

by Sarah Daniels May 16, 2024

Automation is not only here to stay — it’s here to make the tasks of owning, operating, marketing and leasing a shopping center easier. That is the view of Sandy Sigal, chairman, CEO and president of Calabasas, Calif.-based NewMark Merrill Companies. “I see automation as a net positive,” he explains. “The efficiency level inside shopping centers is going to go way up. Customer satisfaction levels are going to go way up too.” Sigal envisions a future where personalization, driven by artificial intelligence (AI), transforms the shopping experience, offering tailored recommendations and …

May 16, 2024

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NewMark Merrill’s Proactive Outlook Prioritizes Placemaking

by Sarah Daniels June 9, 2023

Sandy Sigal believes in a holistic approach to the properties he’s acquired. He pairs tech-savvy data gathering to understand trends and opportunities with a focus on creating shopping experiences consumers crave and connection with their communities. This strategy is essential to making NewMark Merrill’s projects into successes, including the company’s latest California projects: the Rialto Village shopping center in the Inland Empire, which just completed preleasing, and the Corbin & Parthenia shopping center in the San Fernando Valley area, which is slated for renovations. Knowing your customers allows you to account for their retail needs and desires …

June 9, 2023

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City of Glendale: Support for New Business Bolstered by Streamlining

by Sarah Daniels June 2, 2023

Glendale, California is home to some of Southern California’s most popular destinations and its draw for merchants, residents and visitors is undeniable. Brookfield’s Glendale Galleria and Caruso’s The Americana at Brand are two of the top shopping centers in California, iconic locations for major retailers. What can Glendale offer to make itself even more attractive for a wider range of businesses? The city is focused on streamlining permitting systems and offering a concierge service to ensure promptness, according to Bradley Calvert, director of community development for the City of Glendale. “Typically we assign a …

June 2, 2023

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Glendale California Retail Hub Pulls in Merchants, Customers

by Sarah Daniels May 11, 2023

Less than 10 miles north of Downtown Los Angeles is Glendale, Calif., a city with nearly 200,000 residents and an enviable location if you’re a retailer. “Within a 10-mile radius, we have access to more than 2.5 million people,” says Soua Vang, deputy director of economic development for the City of Glendale. “We are strategically located within the LA marketplace, just minutes away from some of Southern California’s most popular destinations.” If you’re a visitor, those popular destinations may include the Griffith Observatory, the Hollywood Walk of Fame or Universal Studios. …

May 11, 2023

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Buyers Have Reasons to Buy, Sellers Just Need to Sell

by Sarah Daniels May 10, 2023

Margaret Caldwell, managing director and senior vice president at Northmarq in Atlanta, thinks this is a great time to be a retail owner. The only problem? Sellers do too. “The biggest challenge is the small supply of retail in this market,” she says. “Sellers are very hesitant to sell, even though the ones who are selling are experiencing great results and achieving their pricing.” Caldwell notes that in the Southeast there has been a slight change in pricing of around 50 basis points over the past year or so. However, …

May 10, 2023

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Communication Is Key to Success in Today’s Retail Environment, Complementing Data Analysis, Localized Approaches

by Sarah Daniels May 8, 2023

Sandy Sigal, president and CEO of NewMark Merrill in Calabasas, Calif., thinks it’s about time we update the real estate adage, “If you build it, they will come.” In a market grappling with online shopping, inflation, high interest rates and more, Sigal believes the real advice today is, “If you communicate, they will come.” This sort of high-level communication shouldn’t just apply to the public but also to a retail landlord’s merchants and company employees. An elevated approach to sharing information means a wealth of accessible data to help NewMark …

May 8, 2023

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