The Southern California Inland Empire submarket of Moreno Valley is experiencing an explosive population growth rate of more than 5 percent annually. This growth is about to be amplified as the city anticipates the development of the World Logistics Center, a 40.6-million-square-foot industrial corporate business center that will bring an additional 20,000 new jobs to the area. With that in mind, the city is looking at its recent successes to capitalize on future growth. This includes everything from retailers and quick-service restaurant concepts to food halls and entertainment destinations that …
Madison Marquette is in destination mode, as in destination-planning mode. Amer Hammour, the company’s chairman, and Peter Cole, managing director and head of East Coast development, are working on two signature mixed-use projects that will add not just retail, but entertainment to notable corners of Washington, D.C., and New Jersey. Asbury Park is rebuilding one of the state’s most historic beachfront communities into a 400,000-square-foot retail and entertainment development along New Jersey’s oceanfront. Meanwhile, the Wharf in D.C. will create a waterfront destination similar to New York’s Battery Park City …
Carmen Spinoso, chairman and CEO of Spinoso Real Estate Group, has followed the chatter about malls alongside the rest of us. While he knows the traditional way of doing things no longer works, Spinoso is confident many malls are still viable shopping destinations as long as their owners know how to pivot. While individual asset analysis is essential, demographics, location and surrounding competition (or lack thereof) can really dictate a center’s future success. Repurposing old anchor spaces, adding entertainment and services, reshaping co-tenancy provisions, and cultivating the appropriate mix of …
Mixed-use isn’t a new strategy, but this concept certainly took center stage at RECon this year. Brett Hutchens, president of Casto Southeast, has been following this trend for nearly two decades when he entered the game by redeveloping a mall in Florida to include multiple uses. Now known as Winter Park Village, that project is still focusing on its many uses as it recently received a new multifamily component. Hutchens believes we will see this trend continue, particularly among areas hurting for a bevy of services, such as the Westshore …
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