DMM Retail Industry e-News Issue #207

Google’s Turn for a Retail Store… Developer Eyes CA Shopping Center for Mixed-Use Project… Texas Commercial Real Estate is at the Top

Google Retail StoreApple Did It. So Did Amazon. And Microsoft. Now it’s Google’s Turn

The concept’s not hard to understand: put your stuff on shelves, and sell them to people locally, in-person. It’s the way retail had been done for years, at least BTI (Before The Internet). And since Apple had done it and so had other e-tailers and Internet companies, why not Google? Now that the company has perfected maps, email and online shopping (Froogle, anyone?) the search behemoth is looking to open its first retail store in NYC this summer. In a recent blog posting, the company said, “The new Google Store in Chelsea will be a space where customers can experience our hardware and services in a helpful way.” Writing for “The Verge,” Chaim Gartenberg noted it’s “Like an Apple Store, but for Google stuff.” While Google won’t be re-inventing a digital wheel, Gartenberg says the company aims to use its storefront to “showcase how Google’s products work together, offer in-store experts to help troubleshoot problems, assist with setups, work on repairs, and feature how-to workshops to make the most of Google’s products and services” including “Pixel phones to Nest products, Fitbit devices to Pixelbooks and more,” the company said.

Bay Street EmeryvilleDeveloper Eyes California Shopping Center for Mixed-Use Project

A northern California shopping plaza could be getting a major makeover and become a mixed-use project. Bay Street Emeryville just north of Oakland was recently purchased for over $90 million by CenterCal Properties. East Bay Times reports the property will undergo a “major redevelopment” this summer. “It appears part of the new owner’s game plan is to position Bay Street Emeryville as a shopping, restaurant, and entertainment hub that can be the major amenities center for a ready-made audience of life sciences workers in the vicinity,” noted reporter, George Avalos. One of the first moves the new owners are planning is a pedestrian bridge that connects the center to a nearby corporate park where thousands of people work – who need to eat, shop, and occasionally entertain themselves. The project could be completed by 2023.

HandshakeCOVID Lockdowns? Phooey! Texas Commercial Real Estate is Tops!

Lockdown, shmockdown, commercial real estate in Texas recently partied like it’s 1999. Right from the beginning, D Magazine of Dallas declared North Texas to be “one of the nation’s top commercial real estate markets in 2020” and celebrated themselves as such. “D CEO” magazine recently handed out dozens of awards to area companies in a number of categories, including Broker of the Year, Excellence in Construction & Engineering, Best Commercial Property Sale, and more. At their first gathering in more than a year this past April, D CEO publisher Gillea Allison said, “Perhaps no other real estate community in the country has been better prepared to weather the challenges of the past year than ours. We’ve been through some storms before and have always emerged stronger than ever. There is no doubt that we are poised to bounce back in a big way—we’re already seeing signs of that.” A more detailed list with all the winners is here.

Spotlight Listing
Spotlight Listing
Details

Tysons Corner Center

1961 Chain Bridge Rd.
Tysons Corner, VA 22102
Website

Stats

Gross Leaseable Retail Area
1,974,000 sq. ft.

Year Opened
1968

Owner/Developer
Macerich

Retailers

Retailers Include
AMC Theatres, Bloomingdale's, L.L.Bean, Macy's, Nordstrom, Flight23 at Footaction, Ann Taylor, PINK by Victoria's Secret, Psycho Bunny, adidas, Chopathi India Kitchen, Panda Express, Beauty Nail Bar, For Eyes

Summary

Summary
Tysons Corner Center is the Washington D.C. region’s retail leader with exciting new offices, hotel and residential high-rises. Tysons Corner Center serves a primary market population of 1,399,508 with an average household income of $184,127.


DMM Data: More than JUST the Malls

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