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Sports Entertainment Provides a Promising Future for Retail Real Estate

by Alex Tostado

Atlanta — The future of food and beverage retail is…sports? To hear from “The Future of Restaurants & Entertainment” panel at the ICSC Southeast Conference & Deal Making event, sports-centric concepts are a solid bet for retail real estate owners to pursue going forward. Produced by the International Council of Shopping Centers (ICSC), the event was held Nov. 13-15 at the newly renovated Georgia World Congress Center in downtown Atlanta. Justin Amick, president of Painted Hospitality, spoke during the panel about his two venues in Atlanta, The Painted Pin and …

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FeaturesNewsRetailersSCBlogWashington DC

Holiday Shoppers Plan to Spend 4 Percent More This Year, NRF Survey Shows

by Alex Tostado

Washington, D.C. — American consumers plan to boost their holiday spending 4 percent this season on a year-over-year basis, according to the National Retail Federation (NRF) and Prosper Insight & Analytics. The projection is based on a survey of 7,782 adult consumers. Specifically, shoppers expect to spend an average of $1,047.83 this year, up 4 percent from last year’s total of $1,007.24, the survey findings show. Meanwhile, shoppers who are between the ages of 35 and 44 plan to spend an average of $1,158.63 this holiday season. Consumer spending is …

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FeaturesIllinoisRestaurantsRetailersSCBlog

F&B Dominates Discussion at ICSC’s Chicago Deal Making

by Alex Tostado

Chicago — The food and beverage industry dominated much of the programming and sessions at this year’s Chicago Deal Making, hosted by the International Council of Shopping Centers (ICSC). In fact, the keynote speaker was Fabio Viviani, a celebrity chef and hospitality developer. Examples of other food-oriented workshops and panels included “How to Craft Restaurant Deals,” “From Automation to Ghost Kitchens, Understanding the Trends Reshaping F&B” and “Small Bites: New Restaurant Concepts.” The two-day ICSC event took place at Navy Pier on Wednesday and Thursday, Oct. 16-17. The show kicked …

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SCBlog

Cafaro Retooling Vacant Anchor Spaces

by Alex Tostado

Cafaro Co.’s longevity (70 years as a shopping center developer and owner), the long-term business relationships established over six decades and the leasing team’s tenacity and execution are the reasons for the success Cafaro has achieved recently in re-developing vacant Anchor Boxes in their Portfolio of enclosed malls. A few years ago at Kennedy Mall in Dubuque, Iowa, long-time Anchor Store Sears closed in early Spring. Nine months later, Planet Fitness opened an 18,000-square-foot space on the first floor. A year after that, Vertical Jump Park opened in 26,000 square …

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FeaturesRetailersSCBlog

CCIM: ‘Culprit’ for Retail Bankruptcies Is Being Overleveraged, Over-Retailed

by Alex Tostado

Over the weekend, fast fashion retailer Forever 21 was the latest to file for bankruptcy protection. The low-price, teen-focused apparel retailer plans to close 350 stores worldwide, including up to 178 in the Unites States, according to The Wall Street Journal. Overleverage and retailers being “over-retailed” — not changes in consumer spending — are to blame for retail bankruptcies, according to K.C. Conway, CCIM Institute chief economist. Conway, in partnership with the Alabama Center for Real Estate at the University of Alabama, recently released a report that debunks retail myths and makes predictions …

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FeaturesRetailersSCBlog

Retailers Look to Capture the ‘Laptops and Lattes’ Crowd

by Alex Tostado

Los Angeles — The four F’s may need to move over: there’s a new consonant in town. While fun, food, fitness and fashion are still category staples in shopping centers, retailers at ICSC’s Western Conference & Deal Making event, held Sept. 16 to 18 at the Los Angeles Convention Center, are now interested in courting the two L’s: laptops and lattes. “We do really well with the laptops and lattes crowd,” said Felicia Alexander, a Health & Wellness panelist and co-founder and co-owner of BoxUnion boxing studio. “We look at daytime …

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RetailersSCBlog

How Gen Z is Shaping the Future of Atlanta Retail

by Alex Tostado

Throughout history, new generations have come along with fresh attitudes and expectations that differ from those of previous generations. By taking a deeper dive into the demographics and psychographics of Generation Z, retailers can alter the way they utilize their brick and mortar locations and the function of these stores in driving overall sales. “Gen Z” refers to those people born between the mid-1990s to the mid-2000s. Gen Z is increasing demand for experience and thought leadership within Atlanta’s fast-growing retail scene. These digital-age youth, who are quickly on track …

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EntertainmentMixed-useSCBlog

Winning Big with Competitive Socializing

by Alex Tostado

From axe throwing and bowling to gaming lounges and escape rooms, entertainment users that feature competitive activities are rapidly expanding into traditional retail centers. A recent study by JLL coined the term “competitive socializing” to describe this class of  new leisure tenants and how they are driving foot traffic to suburban shopping centers and poised for stronger growth. Eatertainment concepts, another term used to describe these concepts which blend an arcade experience with food and beverage offerings, comprise 22.6 percent of the competitive socializing market share and have proven to …

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SCBlog

The Restaurant Delivery Drive

by Alex Tostado

Delivery and carry-out is changing the restaurant industry. Like the rest of retail, consumer trends and digital are driving change. New trends are sweeping across the industry from hyper local sourcing to fine casual dining. None, however, has been as impactful as the rapid growth in the delivery and carry-out model. Fueled by shifting consumer preferences, market trends, and opportunities for digital ordering, the growth in delivery is impacting restaurants across the operational spectrum from space and personnel requirements to recipe development and revenue per order. In this post, we’re …

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FeaturesNew YorkRetailersSCBlog

Reis: National Retail Vacancy Experiences First Drop Since 2016

by Alex Tostado

New York City — The national retail vacancy rate fell 10 basis points to 10.1 percent in the second quarter, according to New York City-based commercial real estate data firm Reis. This is the first time in which vacancy has declined since the first quarter of 2016. For context, in the second quarter of 2018, the rate had risen 20 basis points to 10.2 percent and remained flat at that rate through the first quarter of this year. The tightening of available space is in contrast to the larger talking …

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