With the increased investor demand for service-based, internet-resistant retail, the single-tenant net-leased learning and daycare industry has emerged as a viable and sustainable alternative to common net-leased retail properties for private investors. Since January 2017, Hanley Investment Group has completed the sale of over $20 million in single-tenant learning and daycare leased properties across the country. Shopping Center Business sat down with Southern California-based Hanley Investment Group Vice President Jeff Lefko to discuss his take on this growing sector. SCB: Why are so many new daycare and learning centers opening across the …
Retail Insight
Ease, convenience and experience are the goals of most shopping centers nowadays — with ease and convenience being a large part of a consumer’s overall experience. While these factors motivate some shoppers to make their purchases on a screen, these same goals are causing retail landlords to embrace healthcare tenants. “The retail environment is attractive to healthcare tenants because many of these tenants are interested in being located within the community,” says Dana Nialis, senior associate with CBRE’s healthcare services. “Doctors and medical groups are looking to expand beyond the …
It may be the end of an era, as Seaport Village’s 40-year lease has come to an end. The 70-acre waterfront site will soon be reinvented to include an observation tower, aquarium with butterfly exhibit, public space, hotel rooms, retail, office space, educational center and parking. While this newest iteration is still a few years in the making, the current asset holds opportunity for current and future retailers seeking interim space and the possibility of evolving alongside this reimagined waterfront. Penny Maus, department manager of business development real estate for the …
There is much talk that new, ground-up retail development is all but finished throughout most of the country. Two monster projects in the Los Angeles area prove this is far from the case. Palisades Village The coastal community of Pacific Palisades will usher in a new era of shopping, dining and entertainment when Caruso’s Palisades Village opens this Saturday, Sept. 22. The center has been dubbed “the new community gathering spot,” and those behind it intend for Palisades Village to be just that. “Palisades Village represents the evolution of what …
Ralph Conti, principal and managing member of Atlanta, Georgia-based RaCo Real Estate, and Svein Dyrkolbotn, a principal of Gainesville, Florida-based Viking Companies, are co-developing Celebration Pointe, a 1 million-plus-square-foot, mixed-use development in Gainesville, Florida. The unique 160-acre project will feature Class A office space, boutique hotels, several types of residential offerings and many first-to-market retail, restaurant and entertainment offerings. Bass Pro Shops, a first to market state-of-the-art Regal Cinemas RPX Theater, a new concept Tommy Hilfiger, Kilwins and a Nike Factory store recently opened, with many more tenants under construction …
Technology can be one of the best tools shopping center owners have at their disposal, says Sandy Sigal, president and CEO of NewMark Merrill Companies. From combating long checkout lines to helping customers locate stores and parking spaces, technology has a huge convenience factor for patrons. It also has a huge convenience factor for owners, as they’re able to collect data from shoppers and event attendees. This data can be harnessed to determine when people shop, where people shop and even to increase tenant success by improving elements of the …
Adding an air of international appeal is one way shopping center owners can diversify their tenant mixes while providing shoppers with a new experience. Barriers with culture, language and differences in laws, however, can make doing business in the U.S. tricky for foreign retailers. David Rabinowitz, partner at Goulston & Storrs and Co-Chair of the firm’s Retail Group, and other attorneys in Goulston’s Retail Industry Group know how to navigate issues based on their years of experience representing international retailers entering the U.S. In fact, today’s experience-driven retail climate has …
Ivan L. Friedman, president and CEO of RCS Real Estate Advisors, has seen his share of real estate cycles. Working on about 40 million square feet of retail per year, Friedman and his firm believe we are in the midst of a long-lasting cycle — but one that is far from the “retail apocalypse” we continue to hear about. This is also a time, Friedman, contends, when retailers are looking at their footprints, determining whether they need less space and whether they’re happy with their rents as compared to their …
Scott M. Holmes is no stranger to RECon. With more than 25 years of experience on the client side of the commercial real estate investment business, Holmes is a veteran of the conference. However, his role has shifted this year, and it was his first RECon as Senior VP and National Director of Retail with Marcus & Millichap. While he saw a lot of familiar faces at this year’s conference, Holmes’ role found him supporting his brokerage teams and reintroducing himself in a different capacity. He spent this conference engaging …
Hernan Martinez, CEO of Cuestamoras Urbanismo, takes a different approach to today’s retail environment. Rather than design centers around shopping, he creates places people want to be – then weaves an element of retail into these destinations. By focusing on the targeted community, their culture and their desires, Martinez can outline a project that fulfills what that neighborhood is lacking, what makes those residents happy and what retailers can add to that experience. Case in point is Oxigeno, a mixed-use project in Costa Rica that features four uniquely themed zones …