SCBlog

David-Gabbai

With challenges including high interest rates, construction prices and longer permitting timelines, the cost to own, build, remodel and lease restaurant space today has gone through the roof. Forward-thinking restaurant tenants and retail landlords, though, are finding creative ways to make things work.  In today’s environment, it’s necessary to find imaginative solutions when neogitating lease terms and structures, in order make both tenants and landlords comfortable and willing to close transactions. Colliers’ retail brokerage team in Central Florida has recently observed several trends that illustrate this ingenuity.  Annual increases in …

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Michael-Weaver

How retail center owners can ride the $100 billion third wave of digital. Industry experts are calling retail media networks the ‘third wave’ of digital. A number of large retailers have already earned more than $1 billion with their retail media networks. This source of high margin annual revenue also has the potential to impact retail center owners.  How is Retail Media the Third Wave of Digital? Each wave of change since the world has leaned more toward digital marketing has brought both disruption and opportunity.  The first big wave …

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Morris-Ellison

Legal covenants often cause excessive property taxation for mall owners that are looking to redevelop. The repurposing of malls and anchor stores is a popular topic in community development circles, but legal restrictions make redevelopment extremely difficult. Often locked into their original use by covenants, malls and anchor stores are often grossly over-valued for property tax purposes.  In pursuing a redevelopment, taxpayers should ensure the properties are fairly assessed and taxed.  Debilitating Obsolescence It is difficult to overstate the plight of malls and department store anchors. Gone are the halcyon …

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Mitra-Esfandiari

Design As An Asset

by Hayden Spiess

Looking beyond aesthetics, many are viewing a property’s design as a valuable asset. As centers evolve to have more experiential tenants, many are looking at design as one way to convey experience to visitors. Adding open-air elements, like public gathering spaces, parks and murals, has become popular. Centers are also more open to blending uses than creating retail districts. SCB recently interviewed Mitra Esfandiari, partner at Long Beach, California-based RDC, who has worked on a number of forward-thinking centers over the past decade. SCB: How are center owners viewing design …

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Matt-Silvers

To forge ahead, the retail industry might want to look back. Rapid growth of online sales has vastly outstripped traditional retail sales by a considerable percentage. Since 2012, online commerce has grown by roughly 14 percent annually1 while traditional in-store sales have ticked along in the low single digits.2 As a result, it has been forecast that the social utility of retail real estate has run its course, to be replaced in large part by online shopping. Certainly, during the height of the pandemic, it seemed as though this prophecy …

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Goldstein_J

The changes in the real estate world due to developments in technology and the COVID-19 pandemic are enormous. The retail shopping center of today would be unrecognizable a decade ago. But we live in a world of change, and so we must adapt. Landlords are inventing creative ways to rebrand, repurpose and reinvigorate shopping centers and strip malls in this new world of retail.  The typical shopping center once consisted of several anchor tenants — national department stores, clothing chains, and supercenters — supported by smaller retail stores. You would …

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Mark-Winter

While pandemic pressures have influenced how we live, spend our leisure time and allocate our dollars, one thing remains constant: the power of place. For all the convenience of online shopping and the welcome utility of new digital tools that help us stay connected, there is growing recognition that brick-and-mortar environments — more specifically, the experiences and engagement that takes place in and around them — are vital social and commercial engines. Great interactive retail communities remain not just relevant, but essential. But in the evolving landscape of these environments, …

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With pandemic-related disruptions fading with time, the retail sector has recovered in impressive fashion. Capitalizing on a flight to quality, 2021 ushered in a dramatic increase in deal flow and revealed surprising resilience following an unusually challenging 18 to 24 months. While market-to-market and sector-to-sector variations remain, the overall mood for retail and mixed-use developers is one of grounded optimism. The pandemic prompted changes in the ways spaces are used and prioritized, and it also accelerated existing trends. Perhaps the most notable acceleration is the pressure on anchor-dependent enclosed malls. …

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Steiner

Beset by pandemic pressures and evolving in the face of ongoing demographic and sociocultural shifts, the commercial real estate industry is on the cusp of some profound changes. The retail and mixed-use real estate landscape of tomorrow is going to look and feel very different.  While 2021 turned out to be a much stronger financial performer than many experts had anticipated, it seems very clear that the age of COVID has accelerated the pace of change in an industry that was already starting to shift in fascinating new directions. What …

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Asher W

Retail condominiums are a unique product type, and many real estate investors hold some misconceptions about the ownership structure. Here, we break down the complexities of retail condo ownership, answer a few of the questions frequently asked by investors new to the asset class, and also explore what may impact future supply and demand. Q: How does a condominium differ from other ownership structures? A: In major cities where high-density developments are popular, we frequently see mixed-use projects being built, either new construction from the ground-up or older buildings being …

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