SCBlog

Tricky Issues Impact Shopping Center Property Taxes

by Julia Sanders September 29, 2021

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 …

September 29, 2021

SCBlog

It’s Time For Retailers to Prepare for the New Lease Accounting Standard

by Julia Sanders July 1, 2021

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 …

July 1, 2021

SCBlog

RETAIL IS COMING BACK: An Opportunity for Private Lenders

by Julia Sanders April 12, 2021

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 …

April 12, 2021

Features SCBlog

Retailers Should Focus on Long-Term Occupancy Cost Reductions in 2021

by Julia Sanders March 16, 2021

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 …

March 16, 2021

Features Retailers SCBlog

Is 2020 the Apparel Apocalypse?

by Alex Tostado November 17, 2020

“What are you wearing?” It’s been a common question in America’s daily vernacular, yet in 2020 — the year of dressing casually to work from home — it has never been less relevant. For those of us in the retail real estate industry, particularly owners of shopping centers, understanding the years-long downturn in apparel shopping has caused us to rethink what we will do with all the leasable area devoted to this retail segment. Much has been written about the demise of retail stores caused by the emergence of online …

November 17, 2020

Development Features SCBlog

The New Retail Anchor Combating E-Commerce: An Experience-Driven Design

by Alex Tostado August 25, 2020

Written by Greg Lyon, principal and design director for Nadel Architecture + Planning Retail destinations have undergone an evolution over the past several years. The sharp rise of e-commerce has resulted in retail owners and developers working to ensure they are creating internet-resistant shopping centers that will stand the test of time. In addition, the COVID-19 pandemic has accelerated the already-robust discussion surrounding incorporating more service-based retailers and items that consumers simply can’t get online. While these are certainly important components, one of the most essential aspects of an internet-resistant …

August 25, 2020

Ancillary Retail Features Retailers SCBlog

How Landlords are Helping Save Pop-Ups During Pandemic

by Alex Tostado July 29, 2020

Before the coronavirus pandemic, mall and shopping center owners were so much more to pop-up tenants than just landlords. Specialty leasing has become more about business mentoring and support than it has about filling empty space. These supports in design, technology, POS, merchandising, data collection and much more have resulted in top developers becoming incubators for fresh new brands to keep the shopping experience unique and unexpected. During the pandemic, many owners are still finding ways to help sustain their smaller, digital-first or local tenants and to supplement the Small …

July 29, 2020

Features Retailers SCBlog

Pain Felt in Charlotte Retail Sector, But Phased Reopenings Give Market Hope

by Alex Tostado July 7, 2020

The COVID-19 outbreak had a tremendous impact on retail across the country, and Charlotte was no exception. As stores were forced to close, business owners had to devise creative ways to operate during the pandemic. Rent deferral, Paycheck Protection Program funds, layoffs and furloughs were some of the ways owners addressed cash flow. Many restaurants faced questions regarding takeout, delivery service, menu adjustments, table spacing and employee safety. Enhanced cleaning procedures, payment procedures, marketing adjustments and general overall operations were other issues facing many restaurants and retailers. Restaurants with drive-thrus …

July 7, 2020

California Features Retailers SCBlog

Time to Network: Progressive Real Estate Partners’ Umansky Begins Term as President of Retail Brokers Network in Interesting Times for Retail

by Alex Tostado June 24, 2020

California Centers, a sister publication of Shopping Center Business, recently spoke with Brad Umansky, president of Rancho Cucamonga-based Progressive Real Estate Partners and the newly appointed president of the Retail Brokers Network. As Umansky assumed the volunteer role in May, the nation — and the retail real estate industry — was in the throes of dealing with closures and stay-in-place orders brought on by the COVID-19 pandemic. He spoke with the magazine about assuming his role for the network at this time, and how its members are helping each other …

June 24, 2020

Features Retailers SCBlog Wisconsin

Reimagined Milwaukee Retail Scene Meets Consumer Lifestyle Needs

by Alex Tostado June 17, 2020

By Ray Balfanz, Outlook Management Group What does Milwaukee bring to mind? Beer? Cheese? TV’s “Happy Days”? Perhaps the city chosen as the site for the 2020 Democratic National Convention? Yes, that’s us — being recognized and happy about it. But since I began penning this piece in March, we’ve experienced a world of change in the realities of group gatherings: We can hardly have 10 people in a group now, let alone thousands of delegates filling our new Fiserv Forum. It’s anybody’s guess how long the multi-trillion-dollar brick-and-mortar retail …

June 17, 2020

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