DMM Retail Industry e-News Issue #158
Filling the Empty Anchor Space at Retail: “Nothing is off the Table”
You probably got lots of advice about what to do with empty anchor space at malls and shopping centers at ICSC in Las Vegas for the past few days. Before the show started, Chuck Taylor, director of operations for Lemont, IL-based Englewood Construction, shared his thoughts to GlobeSt.com. “While our clients are ideally looking for something that supplements the experience at a retail center, at the end of the day they’re willing to weigh nearly any opportunity that will make good use of a large swath of vacated space,” he said. He’s seeing large empty spaces become movie theaters and family entertainment concepts, multi-family and senior housing, or even facilities for municipal parks. In other words, think different and think big.
Digital Brands’ Expansion into Physical Retail Growing
A VP with CBL Properties predicts digitally native brands will be moving into real-world retail. While mall owners and retailers evolve and work to meet the demands of modern consumers, online retailers are recognizing there is more than a few clicks to build a successful business. “By cultivating relationships with digital natives looking to expand into physical storefronts and embracing the changing face of brick-and-mortar, we can create a new and exciting future for retail,” said Jim Ward, vice-president of innovation and new business ventures at CBL Properties, on WWD.com. “Brands such as Adore Me, Untuckit, Casper and other well-known concepts are moving beyond department stores and turning directly to retail property owners for support in pulling off successful pop-up and permanent locations,” he added.
Case Study FL: Healthy Growth Ideal for Retail Marathon (it’s no Sprint)
If you can’t do it online, it’s being done in Florida. Developers are designing retail with edgy dining options, services and experiences. Bowling alleys, dining, dry cleaners, grocery stores and larger mixed-use projects such as apartment towers, offices and hotels ensure foot traffic. “It used to be, ‘location, location, location’ was everything in retail. Now it’s, ‘Tenant mix, tenant mix, tenant mix.’ Who is my tenant, and what is the mix of my tenants is really what matters,” said Alan Esquenazi, executive director of retail services at Colliers International in Coral Gables, in an article posted recently on DailyBusinessReview.com. The TREO Group is moving in that direction with the Regatta Harbour marina, retail and restaurant project in Miami. A food hall-type offering is planned inside a historic 20,000-square-foot hangar. Retail tenants will likely include a dry cleaner, coffee shop, yoga studio and Pilates studio.
Thanks for Visiting us at ICSC RECon 2019!
The show is just about over, and boy are our brains full! What did you learn at the show? Did you come away with more questions than answers? If that’s the case when it comes to data, were you able to figure out what matters most to you and your business? If you didn’t get a chance to visit us at the show, let us show you how our major shopping center and mall data is organized and how our proprietary retail boundaries can work for you. It starts with our 8,400+ listings with more than 315,000 tenants. Whether it’s Cole Haan, Sephora, Nike, Macerich, Brooks Brothers, Cushman & Wakefield, CBS Outdoor, Chick-Fil-A, Taubman or the rest, we offer the data that can help you thrive and succeed. For more about how our customized Retail Boundaries and Trade Areas can work for you, contact us by clicking here.
DMM e-News - Issue #158
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