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This is one issue of Shopping Center Business you won't want to miss! See what's in store for the Meyers Group's upscale project in Orlando in the cover story 👇 Standing Ovation Meyers Group is planning an upscale project in Orlando that targets an older demographic while still being approachable for families. By Randall Shearin; insights from – William Shewalter, Meyers Group. Inside this Issue: East Meets West Japanese specialty retailer Daiso is bringing its eclectic range of retail to more markets throughout the United States and broadening its consumer base. Written by Hayden Spiess; insights from John Clarke, Daiso USA Scoring Big with Sports and Entertainment Concepts From pickleball to gaming to live music, landlords create hot new combinations that appeal to a variety of consumers and boost sales. By Kristin Harlow; insights from – Tim Katt, Transwestern Real Estate; Steven Mueller & Patrick Holleran, HDA Architects; Beau Arnason, Steiner + Associates; David Donato, Continental Realty Corporation; Doug Rendleman, A.J. Brown, Inc.; Kathleen Brill, Cullinan Properties; Andrew Totten, JAMES MCHUGH; Mervat Berry, CCIM, MDL Group/CORFAC International. Communication Facilitates Mall Redevelopments The complex projects encompass many moving parts and players. Keeping them all on the same page is crucial to success. By Taylor Williams; insights from – Steve Plenge & Najla Kayyem, Pacific Retail Capital Partners; Tom Wilder, Wilder Cos.; Kari Glinski, Federal Realty Investment Trust; William Holzman, St. John Properties, Inc.; Rebecca Wing, Regency Centers. Recovery Mode The movie theatre exhibition business has seen an uptick in strong content over the past year, boosting attendance. Here’s a look at how the industry is doing overall. Chuck Stilley, Mark McDonald & Eva Mui, The Cinema Bridge interviewed by Randall Shearin. Adapting for a Growing Area Metro North Crossing is a planned 1 million-square-foot mixed-use center that is the adaptive re-use of a former regional mall. By Randall Shearin; insights from – Dan Horn, IAS Partners. -- There's much more to see! Read the issue NOW: https://lnkd.in/eJX9Rb4R #ShoppingCenter #CRE #Retail #MixedUse #Malls #Redevelopment

Inside the latest issue of Shopping Center Business ⤵ High Costs, High Demand Defines Today’s Retail Reality Many of California’s retail spaces are still sought after by tenants, but the high-cost environment proves challenging when it comes to making actual moves — whether you’re a tenant, landlord or investor.  By Nellie Day; insights from – Brad Umansky, CCIM, Progressive Real Estate Partners; Scott Agajanian, City of Murrieta; Chris Premac, Coreland Companies; Kimberly Wright, Riverside County Office of Economic Development; Todd Nathanson, illi Commercial Real Estate; John Hickman, NewMark Merrill Companies, Inc. Inside This Issue: ✴ Chicago Suburbs Shine Leasing and sales fare better in suburban areas, but downtown projects in the works offer a glimpse of a rebound.  By Kristin Harlow; insights from – Chris Bobowski, Cushman & Wakefield; Kathleen Brill, Cullinan Property; Rick Scardino, Lee & Associates Commercial Real Estate Services; Corrine Cecil, Brixmor Property Group; Marget Graham, Mid-America Asset Management Inc.; Mitchell Kiven, Marcus & Millichap; Brad Belden, Colliers. ✴ The Blessings of Bankruptcy Retail bankruptcies present an opportunity in an environment where occupancy is tight and supply is limited.  By Mike J., Big V Property Group ✴ Why Is Retail Vacancy So Low Across the U.S.? With little development of new retail space during the past 17 years and new uses leasing up available space, retail landlords have reasons for optimism, even in a period of high interest rates and persistent warning signs for the U.S. economy.  By Rudy Milian, CRRP, Woodcliff Realty Advisors, LLC Read the issue: https://lnkd.in/e8wD9Ntz #ShoppingCenterBusiness #Retail #CRE #CommercialRealEstate #Bankruptcy #RetailVacancy

Location isn’t everything—access is! Retail success hinges on foot traffic and convenience. Being across the road from a Westfield won’t matter if customers have to navigate parking lots, crosswalks, and traffic lights to reach your store. Barriers = lost business. Smart retail investments focus on high-traffic, easy-to-access locations. Want to know what really drives retail success? Follow me for more insights! @will_tong Property Lions Allan Cuevas Alex Anglin AAPI CPV, MRICS Leroy Day Marc Kevin B. Julian Philip Tolentino #commercialproperty #investmentstrategies #foottraffic

The shopping mall was once a mainstay of American life-- a destination for shopping, eating, socializing and entertainment, a retail sales powerhouse, a vital and reliable source of tax revenue for the communities where they were located and virtually a sure bet for commercial real estate developers, owners, operators and investors. But, for a variety of reasons, from the demise of traditional department stores and big box retailers to the continuing growth of ecommerce, many shopping malls have fallen on hard times and are aiming to reinvent themselves to reverse their decline, including by converting vacant or underperforming space to apartments. Part 4 of our on-going series on multifamily conversions is on shopping mall conversions, a concept that had taken root before the pandemic but was accelerated by it. You can read Part 4 in our series at https://bit.ly/3yBStyh #commercialrealestate #shoppingmalls #apartments #multifamilyconversions #multifamily

After more than a decade of minimal shopping center development and still riding the tailwinds of the post-pandemic rise in sales, retail tenants are finding themselves in the unfamiliar position of competing for available space. That is, when they can find it. The amount of available shopping center space has declined steadily over the past decade and is now hovering at historic lows. Demand for retail space has been broad-based, with availability declining across box sizes and regions. At the same time, dozens of large national retailers are pursuing significant store expansions as they brace Wall Street to expect thousands of planned future store openings. Against a backdrop of scarce available retail space, intense competition among tenants vying for prime locations is now playing out across the United States. This has resulted in retailers paying higher rents, agreeing to pricier rent escalations and jumping on spaces as soon as, and sometimes even before, they become available.

The Future of the American Mall The American mall is in a quandary. Stores are papered over and echos bounce around mostly empty halls. In the past decade, online shopping has taken a considerable bite out of in-person retail, leaving empty, palatial wastelands in its wake. Gone are the days of happy shoppers gliding across glossy floors with wide, stiff paper shopping bags in hand, while the smell of buttery pretzels wafts tantalizingly by. The “dead mall” (also known as a ghost mall or a zombie mall) has even become a sort of local fascination. When Unibail-Rodamco-Westfield — one of the country’s most recognizable mall operators thanks to the word “Westfield” emblazoned on dozens of mall exteriors — announced in an earnings report in 2021 that it was effectively shutting down operations in the U.S., these institutions hit yet another tipping point. So what comes next for these giant mausoleums of the American dream? Development companies are gobbling up beleaguered retail complexes across California, rethinking the very blueprint of what a mall should look like. Their ideas are lofty, from towering new structures that include housing, elevated dining and even hotels to more subtle shifts like added entertainment offerings and offices. Some are pushing for more radical changes, adding senior housing, pickleball courts and trampoline parks, and even local library branches. What do you think the future holds for Malls in America, and around the World? #wearelynn #scripps #malls #nbcuniversal #forbes #wsj #newyorktimes #retail #foxnews #yahoo #applenews #DBTV

Anchor tenants in #retailcenters are not always the ones with the largest footprint. We shifted our terminology from "Anchor Tenant" to "Key Tenant" which allows us to focus and nurture the KEY Tenants in a shopping center! #retail

We all look for simple narratives and singular theories in life and business. The reality is almost always more complex and nuanced. Case in point is the continuing narrative around the death of bricks and mortar retail. This week Simon Property Group and Brookfield Properties, joint owners of JCPenney, suggested they may start building ground-up new JC Penney Stores, this follows a triage $1 billion remodelling and repositioning program that they undertook a couple years back. At the close of 2020, Simon and Brookfield outright bought JC Penney for a number for reasons 1) they saw continuing value in the brand 2) they saw strategic value in owning the properties, many of which were a part of the jigsaw of ownerships in their own malls 3) JC Penney failing could and was putting drag on their own brands and businesses. Simon, Brookfield, Kimco Realty Corporation and other retail-developers have had a steady drumbeat of positive investor days and are seeing a strengthening and resurgent market for outdoor and indoor shopping centers. Most every retail developer have over the last few years, gone through their portfolios and divided them into various categories- the big binary being those with potential (and need) for mixed-use redevelopment and those that can continue to be retail-only assets with some repositioning/remodeling. I imagine given a brightening outlook for bricks and mortar retail there will be some reversion to the mean, and some of the properties slated for mixed-use redevelopment may fall back into the retail-only category, or at least some pumping of the brakes on the redevelopment program, particularly given the current costs of financing ground-up development and construction, they may wait for a more positive real estate cycle (see Hines: Riverwalk). Live-work-play, mixed-use redevelopment will continue to be a likely path for many retail centers. And especially as the traditional retail developers have re-tooled themselves as multi-asset developers or/and have formed joint-ventures and collaborations with positive results. But there’s a lot of optionality in what live-work-play means, and there’s complexity on both the asset side and the development side. While the development model is generally portable between properties, most all these redevelopment opportunities have unique circumstances in funding, ownerships, partnerships, catchment demographics, and physical opportunities and constraints. #retail #shoppingmalls #shoppingcenter #mixeduse #liveworkplay

Aspen Acquires Distressed LV Shopping Center Read the full article below..

#RetailRealEstate has been a positive #CommercialRealEstate performing asset due to low vacancy (sub 5% nationally) and strong consumer spending. #Chicago is no stranger to #Retail, but recent move-in activity may surprise you. Where the quintessential image of city retail may be the stereotypical ground-floor store found within a mixed-use building, recent move-in activity is mostly happening within free-standing, community, neighborhood and power-centers. It turns out mixed-use retail move-ins are amongst the lowest, at 3% of total activity. This may be due to low vacancy rates and limited available retail, but more likely, is that the free-standing and retail centers provide a better platform for retail operators than locating within a mixed-use building, unless you are a coffee shop. What do you think is contributing to these trends? #CRE