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 …
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 …
The impact of COVID-19 has forced retailers, restaurants and service providers in the Northeast to improve their digital channels and adapt social distancing policies to continue serving customers. With retailers struggling to pay rent, landlords could find mutual benefit in reaching a compromise with existing tenants before temporary closures become permanent. Unfortunately, for many small businesses the virus has activated a Darwinian battle of the fittest among retailers with primarily physical channels. Meanwhile, e-commerce giants like Amazon are thriving in market conditions tailored to their already digital-focused business plans. Grocery …
It seems that the hottest topic of conversation over the past few days is what to do when a tenant’s business is adversely affected by “the virus.” Based upon conversations with landlords, tenants and property managers there is no doubt that many tenants and landlords are already thinking about how to handle the April 1 rent payment. Since we work with both, I’m writing this blog from both perspectives. Please note that whether you are a tenant or landlord, I encourage you to read the entire blog as there are …
“Some people look for a beautiful place, others make a place beautiful.” — Inayat Khan This sentiment captures what today’s developers and city leaders are striving to achieve through the art of placemaking. Nowhere is this trend more evident than in the retail sector. Today’s retail owners and developers are becoming increasingly collaborative with city stakeholders and artists in an effort to create retail destinations that are more beautiful, impactful and powerful — ultimately attracting more guests, encouraging higher lengths of stay and increasing overall return on investment (ROI). One …
When I talk to out-of-staters about Texas, they often think I mean “Dallas” when discussing the Metroplex as a whole. That’s when I explain how important the Fort Worth market is to our thriving and healthy Dallas-Fort Worth (DFW) retail scene. Weitzman, which operates offices in Texas’ major markets, has handled development, leasing and management in the Fort Worth market since our founding 30 years ago. Today, the Fort Worth area is home to some of the state’s most robust residential, commercial and cultural growth. In terms of retail, our …
The modern craft beer brewery has emerged as a niche community anchor with flexible business models and loyal customer bases across the United States, particularly in the Northeast. Combining elements of retail, industrial and hospitality models, craft breweries have quickly become one of the most dynamic and trendy business types in major cities and small towns, alike. Some of the largest and most popular craft breweries in the United States are based in the Northeast, including the two largest: Pennsylvania-based D.G. Yuengling & Son Inc.; and Boston Beer Co., the …
Unibail-Rodamco-Westfield (URW) is paving the way for emerging and digital brands’ entrance into physical spaces — particularly re-envisioned common areas of retail spaces. Through the company’s innovative approach toward holiday markets, URW brings new and exciting opportunities for digital brands to its centers. With more than 30 years of industry experience, Amy Alyeshmerni, vice president of asset strategy and innovation – business development/brand ventures, recently looked back at how her mindset evolved as she began working closely with URW’s Digital Incubation programs. She shared her insights during a panel at …
Creativity is the name of the game when it comes to designing and selling sponsorships and experiences at America’s shopping malls. That was the subject of a panel discussion, “Sponsorship and Experiential Marketing Trends,” at the InterFace Conference Group’s Ancillary Retail Expo 2020, held Feb. 3 and 4 at the New Orleans Marriott. Panelists detailed how sponsorships can bring added revenue to retail centers both large and small, and the best ways to do so in today’s retail world. Editor’s note: InterFace Conference Group is a division of France Media …
Do you think you’ve got your permits in the bag? Think again. There are three mistakes developers make when seeking approvals to build shopping centers and other commercial properties. The Three Biggies are: Trusting the decision makers’ promises: Decision makers can cave in the face of opposition, despite their promises and their desire for the benefits your retail complex provides. But opponents’ presence and vocal disapproval will spook even your most ardent allies. Solution: Give decision makers Political Courage by connecting them to supporters, i.e. positive community partners, former elected …