SCBlog

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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Tom Georges

The pandemic put a spotlight on essential retailers, and despite a resurgence across nearly all retail categories, the grocery sector remains top of mind for investors. Shopping Center Business recently reached out to Tom Georges, director in Stan Johnson Co.’s New York office, to discuss current trends impacting the single- and multi-tenant grocery industry and explore why European discount grocer ALDI has emerged as a growth leader. SCB: How strong is demand for grocery retailers in today’s market? Why? Georges: Over the past two years, several retail categories have proven …

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Machan

By: Nick Machan Property tax assessments of shopping centers and other retail real estate may not capture the full extent of value losses those properties sustained in 2020. To avoid paying more than their fair share of taxes, it is important for retail owners to examine how market conditions affect each aspect of the tax assessor’s approach to valuing their real estate. In most jurisdictions, assessors value real estate for property taxes as of Jan. 1 of each calendar year. Most appraisal districts assess retail properties at market value derived …

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Taj Adhav

By Taj Adhav With everything retailers have endured since early 2020, ASC 842 is probably the last thing on your mind. It’s even possible you’re seeing the term “ASC 842” for the first time. And that’s o.k. However, you might have some catching up to do. ASC 842 is the new accounting standard published by the Financial Accounting Standards Board (FASB) that requires companies to track and more fully disclose all qualifying leased assets — including commercial real estate leases. After a one-year deferral, the standard goes into effect for …

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Elliot Shirwo

By Elliot M. Shirwo, Founder and Principal BridgeCore Capital, Inc. While the pandemic struck a massive blow to retail real estate in 2020, as vaccinations rapidly enter arms in 2021, recovery will begin to set in providing myriad opportunities as several factors converge: cities fully reopen for retail business; traditional financing returns to pre-Covid underwriting levels; reimagination and re-utilization of retail space; and forbearances, abatements, repayments and evictions play out through court judgements, contract settlements, bankruptcies and business turnarounds. While this cleansing process is taking place, retail is returning for …

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Andy Graiser

Even though capital markets are opening up, U.S. retailers will continue to file for bankruptcy and close stores this year, due in part to their need to repay deferred rent from 2020. Declining foot traffic only adds to that pressure and it is unclear whether mall traffic will bounce back anytime soon. Last year, it seemed as though nearly every retailer in America was asking for rent deferrals. Now they’re staring at a “deferral bubble” of $40 billion-plus that they’re going to have to pay back, over and above their …

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