When local restaurants are outperforming their national chain averages by as much as 25 percent, retailers tend to pay attention. In this Retail Insight interview from ICSC Las Vegas, reporter Nellie Day sits down with Melissa McClain, economic development manager for the City of Moreno Valley, to explore what’s driving one of Southern California’s most compelling — and still underleveraged — retail markets. With 215,000 residents and 2.4 million people within a 20-mile trade radius, the city has quietly built the consumer base retailers look for. Average household incomes have …
Retail Insight
Austin has crossed a milestone — the city of Austin population now tops 1 million, making it the 12th most populous city in the U.S. — and the retail momentum is matching the growth. In this Retail Insight interview from ICSC Las Vegas, reporter Nellie Day sits down with Davon Barbour, president & CEO of the Downtown Austin Alliance, to talk about what’s driving deals in a city that’s attracting big names: Justin Timberlake is opening The Twelve Thirty Club in the heart of downtown, and Kevin Durant is partnering …
The department store is gone. The movie theater struggled. So what’s today’s anchor tenant? For PB Development, the answer is youth sports — and their Bluhawk project in Overland Park, Kansas, is making the case. In this Retail Insight interview from ICSC Las Vegas, reporter Nellie Day sits down with Bart Lowen, vice president of development for PB Development, to discuss youth sports — a $50 billion industry that, as Lowen puts it, is as certain as death and taxes. The 600,000-square-foot Bluhawk mixed-use development is anchored by a 400,000-square-foot …
San Bernardino County — the largest county in the contiguous U.S. — is making a compelling case for retail investment, and the numbers back it up. In this Retail Insight interview at ICSC Las Vegas, reporter Nellie Day sits down with Deepak Bahl, acting economic development director for San Bernardino County, to unpack what’s driving one of Southern California’s most dynamic retail markets. With a population of 2.2 million, a three-hour drive market reaching 23 million people, and median household incomes rising as much as 40 percent since 2019 in …
Franklin Street: How to Navigate Current Retail Challenges and Future Opportunities
At the ICSC LAS VEGAS 2024 conference, Nelli Day of Retail Insight interviewed Monetha Cobb, chief marketing officer, and Greg Matus, senior vice president of investment sales, of Franklin Street, to discuss the prevailing challenges and future trends in the retail industry. Key Challenges in Retail The primary hurdle in the retail sector is the fluctuating market and rising interest rates, which have significantly slowed down transactions. Investors and developers are finding it tougher to secure deals as banks enforce stricter lending criteria. Despite a slight uptick in activity, …
At the ICSC LAS VEGAS 2024 conference, Nellie Day from Retail Insight spoke with Nate Tower, president and founder of Broad Reach Retail Partners, to explore the evolving landscape of retail and upcoming trends in the space. Broad Reach Retail Partners focuses on revitalizing underperforming shopping centers via a holistic, full-cycle approach that considers leasing, management, construction and acquisition. Tower emphasizes the importance of assessing a matrix of key performance indicators (KPIs) — including capital requirements, tenant mix and market demographics — to develop and execute effective business plans …
NewMark Merrill: Harness Retail Data to Improve Customer Experience, Streamline Operations
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 …
At the ICSC LAS VEGAS 2024 conference, Nellie Day of Retail Insight discussed the current investment climate with Shaun Riley, managing principal of Faris Lee Investments. Riley highlights key aspects of the retail environment — discussing interest rates, bid-ask spreads, navigating the market and more. Investor Sentiment and Market Reactions Riley explains that investor sentiment is significantly influenced by interest rates. After two decades of low rates, recent hikes have led to a cautious approach among investors. “A lot of [investors] are waiting out until they see the returns …
Moreno Valley: Hub for Growth and Opportunity
Located in Southern California’s Inland Empire, Moreno Valley has emerged as a significant growth center and a friendly home to retail. As highlighted by Melissa McClain, head of marketing & business attraction for the city, the area’s robust development is driven by substantial job creation and strategic planning. “Truly the catalyst for the growth in Moreno Valley has been jobs. We’ve created more than 34,000 jobs in the last eleven years. And because of that, we now have more than 7,700 single-family and multifamily residential units that are either …
NewMark Merrill: AI, Automation Will Benefit In-Person Retail
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 …