Todd Siegel, vice president of commercial investments at Passco, doesn’t believe you have to be on the cutting edge of every retail trend to be successful nowadays. He does, however, believe owners need to remain intimately involved with their shoppers. This is particularly true in today’s changing retail landscape where consumer tastes are always evolving and what works for one generation of shopper may not work for another. Rather than target Millennials, for example, Siegel suggests taking a broader approach to consumers and their buying habits. That starts with making …
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Phil Voorhees, executive vice president at CBRE, believes the West’s retail investment market is performing well following a slowdown that culminated with the 2016 holiday season. Though investors may not be on a buying spree at the moment, many are focused on asset preservation. Acquisition opportunities remain in secondary and tertiary markets, along with non-core properties that are lacking a grocery anchor. There is some trepidation from buyers that we are long into this real estate cycle, but deals are still getting done and lenders are still willing to lend. …
With a population of 2.1 million, San Bernardino County is upping its retail offerings to keep pace with its residential growth. That growth includes more than 100,000 housing units planned for the region to meet the demands of young families and individuals seeking an affordable quality Southern California lifestyle. Housing activity is encouraging new retail such as High Desert Gateway West in Hesperia, as well as Rialto Marketplace and Rialto Renaissance in Rialto to name a few new developments. Elisa Laurel, economic development coordinator for San Bernardino County, cites a …
Downtown San Diego’s waterfront is set to undergo some major changes, but until that time comes, Seaport Village is open for business. The Port of San Diego reclaimed ownership of this 14-acre restaurant, retail and entertainment attraction on Oct. 1, and the organization has big plans for Seaport’s immediate future. Penny Maus, department manager of real estate and business development for the Port of San Diego, notes they are seeking innovative retailers and unique dining concepts to round out the existing tenant roster. The port is welcoming tenants that are …
Indoor malls continue their transformation. Los Angelenos need to only look as far as Manhattan Beach to see this retail trend in action. Traditional indoor mall Manhattan Village is undergoing a $180 million renovation that will not only revamp the current property, but will add a significant outdoor component to take advantage of the Southern California weather and lifestyle. The center is adding new dining options like Urban Plates, reopening known favorites like California Pizza Kitchen, and sprinkling in internet-resistant services like MAC cosmetics and Holly and Hudson Nail Lounge. …
The single-tenant net lease (STNL) market remains strong throughout the Western region, according to Bill Asher, executive vice president of Hanley Investment Group. This product is doing particularly well in newer, high-quality assets in coastal markets. Buyers remain as interested as ever in pad sites and credit tenants with long-term leases, including Starbucks, Chick-fil-A and 7-Eleven, Asher notes. All-cash buyers have also maintained their leg up over borrowers, especially in this rising interest rate environment. Asher has seen the most net-lease activity for assets priced at $7 million or less. …
See why EEE draws decision-makers, expert speakers, industry leaders and visionaries together to focus on the future of the built retail environment. Join SCB for the fifth annual Entertainment Experience Evolution Conference February 12-13, 2019 at the Beverly Wilshire Hotel in Beverly Hills, California.
Ralph Conti, principal and managing member of Atlanta, Georgia-based RaCo Real Estate, and Svein Dyrkolbotn, a principal of Gainesville, Florida-based Viking Companies, are co-developing Celebration Pointe, a 1 million-plus-square-foot, mixed-use development in Gainesville, Florida. The unique 160-acre project will feature Class A office space, boutique hotels, several types of residential offerings and many first-to-market retail, restaurant and entertainment offerings. Bass Pro Shops, a first to market state-of-the-art Regal Cinemas RPX Theater, a new concept Tommy Hilfiger, Kilwins and a Nike Factory store recently opened, with many more tenants under construction …
Technology can be one of the best tools shopping center owners have at their disposal, says Sandy Sigal, president and CEO of NewMark Merrill Companies. From combating long checkout lines to helping customers locate stores and parking spaces, technology has a huge convenience factor for patrons. It also has a huge convenience factor for owners, as they’re able to collect data from shoppers and event attendees. This data can be harnessed to determine when people shop, where people shop and even to increase tenant success by improving elements of the …
Adding an air of international appeal is one way shopping center owners can diversify their tenant mixes while providing shoppers with a new experience. Barriers with culture, language and differences in laws, however, can make doing business in the U.S. tricky for foreign retailers. David Rabinowitz, partner at Goulston & Storrs and Co-Chair of the firm’s Retail Group, and other attorneys in Goulston’s Retail Industry Group know how to navigate issues based on their years of experience representing international retailers entering the U.S. In fact, today’s experience-driven retail climate has …