Archive for November, 2013
By DAVID MOIN Source: http://www.wwd.com/retail-news/trends-analysis/icsc-preview-remaking-malls-in-an-internet-era-7291425 In an expanding digital world, mall owners and operators once feared the worst — extinction. While that’s not what’s happening, they are at a tipping point, seeking formats and ideas to reestablish the relevancy of their properties and to reverse declining traffic trends. “The whole dynamics of brick-and-mortar is changing,” observed Andrew Jennings, the chief executive officer of Karstadt department stores in Germany. “Traditional shopping centers have to rethink their layouts because the consumer today has limited time. That’s why the Internet is so popular because it is saving people time.” “You can’t think of your property as just a mall. Think of it as the intersection of life,” said Michael P. Glimcher, chairman and ceo of Glimcher Realty Trust, which develops and operates mixed-use, open-air, enclosed and outlet centers including The Outlet Collection/Jersey Gardens in Elizabeth, N.J. “Mix things you do with things you buy,” Glimcher advised. “It’s about how you complement the Internet, providing things the Internet can’t provide, not so much how you compete with the Internet.”
Source: http://ca.finance.yahoo.com/news/u-commercial-real-estate-industry-140000801.html San Francisco Once Again Top Ranked City for 2014; Industrial Sector Becomes Investor Favored Property Type Report Highlights Potential "Best Bets" for Investors in 2014 CHICAGO, Nov. 7, 2013 /PRNewswire/ -- The U.S. real estate recovery is set to continue into 2014, with investors increasingly looking beyond some of the traditionally popular markets to secondary markets in search of higher yields, according to Emerging Trends in Real Estate® 2014, co-published by PwC US and the Urban Land Institute (ULI). According to real estate market participants, the predicted growth in secondary markets is driven by investors searching for returns as opportunities in core markets become harder to find and the best assets become more expensive. As a result, the report anticipates that 2014 may be the year that many investors who have traditionally focused mainly on large established markets such as Boston, Chicago, Los Angeles, New York City, San Francisco and Washington, will be expanding their focus to other cities in order to protect capital. This trend, first noted in last year's Emerging Trends report, is likely to build substantial momentum next year, given the steady pace of improvement in market fundamentals in secondary markets, and with more investments in those markets meeting investors' risk/return metrics.
The grand opening of Renaissance Square represents the first commercial and retail investment of this size in Southeast Fort Worth for more than 40 years. Renaissance Square serves as an anchor and has led the way for continued construction of new businesses near Highway 287 and East Berry Street. Lockard and Moriah Real Estate Company held the grand opening today for The Shoppes at Renaissance Square, the $75 million shopping center at the intersection of Renaissance and Moriah Dr. in southeast Fort Worth, TX. The Shoppes at Renaissance Square will feature over 400,000 SF of grocery, clothing, pet supplies, sit down restaurants and other neighborhood services.
Source: http://www.bizjournals.com/dallas/news/2013/11/05/the-shoppes-at-renaissance-square-to.html The Shoppes at Renaissance Square in southeast Fort Worth will celebrate its grand opening Nov. 6. The $75 million shopping center will feature more than 400,000 square-feet of retail, grocery stores, restaurants and other neighborhood services. It is roughly five miles southeast of downtown Fort Worth. The shopping center broke ground in April 2010, and since has opened retailers including Walmart, its anchor store,Marshalls, GameStop, Subway, T-Mobile,7-Eleven, McDonalds, Jack in the Box,Shoe Carnival, Ross and Grand LV Nails.