Carmen Spinoso, chairman and CEO of Spinoso Real Estate Group, has followed the chatter about malls alongside the rest of us. While he knows the traditional way of doing things no longer works, Spinoso is confident many malls are still viable shopping destinations as long as their owners know how to pivot. While individual asset analysis is essential, demographics, location and surrounding competition (or lack thereof) can really dictate a center’s future success. Repurposing old anchor spaces, adding entertainment and services, reshaping co-tenancy provisions, and cultivating the appropriate mix of …
Mixed-use isn’t a new strategy, but this concept certainly took center stage at RECon this year. Brett Hutchens, president of Casto Southeast, has been following this trend for nearly two decades when he entered the game by redeveloping a mall in Florida to include multiple uses. Now known as Winter Park Village, that project is still focusing on its many uses as it recently received a new multifamily component. Hutchens believes we will see this trend continue, particularly among areas hurting for a bevy of services, such as the Westshore …
Retail Insight recently sat down with Hernan Martinez, CEO of Cuestamoras Urbanismo, to discuss the changing landscape of shopping centers as they become more of a community center for the cities they service. Martinez has firsthand experience with this as he and his company develop Oxigeno, a mixed-use project in San Francisco, Costa Rica, that offers four unique zones that incorporate entertainment, shopping, dining, green areas, and the local Heredia neighborhood. Do you think today’s convenience-driven, instant-gratification world is one reason we seem to be seeing an uptick in mixed-use …
There is change, and then there is change. While talk has been rampant for the past couple of years that the industry is evolving in ways never before seen, 2018 seems to be the pinnacle of that momentum, according to many attendees at ICSC’s RECon, taking place May 20 to 23, at the Las Vegas Convention Center.
Whitney Livingston, Senior Vice President, Madison Marquette recently sat down with Retail Insight to discuss what makes consumers tick nowadays. Regardless of consumers’ personal style or brand preferences, Livingston says one thing is clear: the power to keep shoppers in a center lies with the shopping center owner. SCB: What are the most compelling retail trends evolving now? Livingston: According to the National Retail Federation, 42 percent of brands are opening stores, while 43 percent are holding steady and 15 percent are showing net decreases. We take into consideration what brands are …
There was a time not too long ago when gyms and exercise studios were less than welcome at many of the nation’s premier retail destinations. My, how the times have changed. While parking, exclusive-use clauses and co-tenancy can still be tricky, the majority of shopping center owners have realized they need to work fitness in if they want to stand out. “Health awareness in our nation has increased and the gym, health and fitness club industry has benefited from recent marketing campaigns aimed at fighting obesity and improving health,” says …
Situated in the fastest-growing region of the United States, the Inland Empire’s Moreno Valley, California, is only an hour away from Los Angeles, Orange and San Diego counties and less than three hours from Nevada, Arizona and Mexico. At an annual growth rate of 5.04 percent, Moreno Valley’s population of 210,000 is booming. There are more than 2.3 million people living within a 20-mile trade radius, as well as a workforce that’s 1.1 million strong. This solid growth has propelled the city to become the second-largest population in Riverside County …
Today’s shopping center owners are looking to offer experiences to their customers — and they are looking for tenants that offer experiences that bring those customers back frequently. Boutique fitness concepts — with their devoted followers that often work out multiple times per week — are a great addition to a center. Founded in 2017, boutique fitness brand Xponential Fitness offers a curated selection of high-quality concepts that are attractive to all ages. These brands include Club Pilates, touted by the company as the nation’s largest and fastest growing Pilates franchise; …
Retail real estate has more than just a slight emphasis on the property portion of the retail landscape. Since most shopping center players have had that part of the equation down pat, many of these real estate experts are now focusing on their counterpart. They’re ramping up their online, social media and other technology-driven strategies to create a well-rounded omnichannel approach that caters to a wide array of customers. This hasn’t taken the focus off brick-and-mortar storefronts, however. Not by a long shot. While it is true that the internet …
Ralph J. Conti, principal and managing member of Atlanta-based RaCo Real Estate, is a development partner on Celebration Pointe, a 1-million-square-foot, mixed-use development in Gainesville, Florida. The 160-acre project includes office and residential components, along with a barrage of retail, restaurant and entertainment offerings that continue to roll out on a regular basis. Retail Insight sat down with Conti recently to discuss the future of retail development and whether we will see more mixed-use projects with diversified retail offerings in the near future. How can shopping center landlords and tenants …