Eddie DeSimone’s Post

Dees Stribling at Bisnow shares information on the record-low vacancy rate of retail, 4.1% as of Q1 2024. With vacancy rates so low, creating opportunity for space is at the forefront. Landlords have the opportunity to improve the quality of their tenants while increasing NOI and the value of their asset. Not all tenants Occupancy Cost are the same. I'm a restaurant guy; a restaurant tenant with an AUV of $450,000 vs a restaurant tenant with same use with an AUV of $850,000 has the ability to pay higher rents while still operating successfully. With competition fierce for space and many retailers focused on continued growth, there is an opportunity for best in class retailers to win space as it comes available because they have the ability to support a higher occupancy cost. For Landlord's always looking to add value, this is a strategy worth pursuing given the current market conditions. #retail #restaurants #VIP

When Foxtrot closed doors earlier this year, what was not predicted was the frenzy of #RetailRealEstate operators pouncing on the opportunity to capture some prime #Retail frontage. In today's market, retail vacancy is sitting at a historic low, which is sub-5 percent, nationwide. So when there is any inkling of prime #RealEstate coming available, there is a "line out the door" to snag a piece of it, especially those spaces which are in dense neighborhoods which lend themselves towards retail operators like restaurants, entertainment venues and all types of retail concepts. The current market favors #Landlords and established operators, as landlords have a sea of potential tenants to choose from and established operators are able to provide the corporate guarantees, high rental rates and long-term leases which landlords are always seeking of a potential tenant.

It won’t be long before a select few Costco Wholesale fans in Los Angeles will be able to live just a few flights above their favorite retailer. Thrive Living, a California-based developer, is converting a vacant lot in the Baldwin Village neighborhood of the city into an amenity-rich apartment building, complete with 800 rentable units, a rooftop pool, gym, and basketball court. The most appealing amenity, however, might just be the Costco warehouse that is slated to take up the ground floor, complete with a pharmacy and optical services. That alone makes the mixed-use building—a term used to describe a real estate project that blends residential and commercial spaces—unique. It is the first time Costco is leasing a space in a residential development like this one. Long-term, however, the biggest upside may be for Costco—and its shareholders. The retailer’s move could set a new precedent for its urban expansion strategies, giving Costco more flexibility to tap into densely populated areas and position itself closer to where shoppers live. https://lnkd.in/gN4quMAf

JUST LISTED: Grocery Outlet & Lincoln City Shops located in the heart of Lincoln City, Oregon. Selling together or separate, these assets are located in the most desirable retail location in the city and provide strong upside growth. The single-tenant Grocery Outlet is the only discount grocer in the area and has a new long-term lease in place with rent increases. The attached Lincoln City Shops provides a synergistic mix of e-commerce-proof retail tenants with strong national-brand recognition. Grocery Outlet & Lincoln City Shops offer a hard-to-find investment opportunity providing low-risk and high-reward. Presented by Ryan Marn CCIM and The Warner Retail Team Grocery Outlet Offering Memorandum: https://lnkd.in/gsjfaWzn Strip Center Offering Memorandum: https://lnkd.in/gTiatrDh #oregon #commercialrealestate #justlisted #newtomarket #investmentproperty  

It won’t be long before a select few Costco Wholesale fans in Los Angeles will be able to live just a few flights above their favorite retailer. Thrive Living, a California-based developer, is converting a vacant lot in the Baldwin Village neighborhood of the city into an amenity-rich apartment building, complete with 800 rentable units, a rooftop pool, gym, and basketball court. The most appealing amenity, however, might just be the Costco warehouse that is slated to take up the ground floor, complete with a pharmacy and optical services. That alone makes the mixed-use building—a term used to describe a real estate project that blends residential and commercial spaces—unique. It is the first time Costco is leasing a space in a residential development like this one. Long-term, however, the biggest upside may be for Costco—and its shareholders. The retailer’s move could set a new precedent for its urban expansion strategies, giving Costco more flexibility to tap into densely populated areas and position itself closer to where shoppers live. https://lnkd.in/g5GPk7e7

So Costco Wholesale is getting into #apartments. I gotta wonder: will these Costco apartments come with extra large refrigerators to handle all of those huge purchases of dairy and meat? And will the pantry be able to hold cases of paper towels? They've got some hurdles, but they will likely do it and do it well. #apartmentindustry #multifamilyindustry #multifamilyhousing #housingshortage #housingcrisis #california #bayarea #apartmentmarketing #apartmentleasing #apartmentoperations

Would you live in housing developed by Costco Wholesale? This is quite a concept & one I think many will be watching to see if it can be successfully replicated - some highlights: - A TOD mixed-use project with 800 small units above a big-box store with 184 set aside for low-income tenants (decent %) - modular construction, which uses prefabricated units built off site, should reduce building costs - Costco’s ties to the residential development aren’t much more than a shared building and underground parking garage, but the retail chain needs the housing in order to get permits to open at this location (this aspect is interesting!) - some South Central community leaders have expressed concern that, despite the need for family- and senior-friendly housing, the majority of these units will likely go to young singles. (bcuz of the small 350-605 sq/ft floor plans)

I recently had the pleasure of talking with Al Urbanski at Chain Store Age about trends in grocery-anchored real estate. We discussed the strong market dynamics, where we see opportunity, growing retailer categories, and why grocery-anchored centers continue to be in strong demand. We also talked about why PECO treats every center in the portfolio as if it were its own business and merchandises them accordingly. We call it being locally smart and it's vital to the success of our neighborhood shopping centers. You can read the article here: https://lnkd.in/gu_sz8Mb

Trending in Real Estate: #Retail & #Residential go hand and hand and many major retailers, particularly in the food space are expanding in metros like NYC . Recently announced, . #WholeFoods is opening two new stores #Manhattan. The supermarket chain last month announced plans to open another small-format “Whole Foods Market Daily Shop” at 301 West 50th Street in Hell’s Kitchen as part of their broader expansion across the five boroughs. The grocery chain has also signed a lease to open a new 20,000sf store at 409 East 14th Street in the East Village. The new outpost in Hell’s Kitchen will occupy between 7,000 and 14,000 sf, approximately a quarter the size of the average full-scale store. Do you see big box expansion in your region? Douglas Elliman Real Estate #Retail #Residential

That was quick! Just a few months ago, the popular upscale café / convenience store, Foxtrot, suddenly closed all of its stores, including four in Austin. Well, good news... they're coming back! No word yet on exactly when they'll reopen, but we know many Austinites are looking forward to it. 🙌 #AvantResidential #AvantResidentialGroup #SusanAvant #compassaustin #compassatx #compass #luxurylifestyle #movetoaustin #atx #sellingaustinsfinestproperties #internationalrealtor #relocationspecialist #leadersinluxury #localexpert #luxuryrealestate #realm #realmglobal