DMM Retail Industry e-News Issue #184
Gradual Re-openings after COVID Shutdowns Show Modest Gains at Macy’s
New York and other states hit hard early by coronavirus have begun their re-opening in a slow, roll-out approach. It couldn’t come soon enough, as earlier this month Macy’s saw a bit of sunshine and optimism through the cloudy skies, saying that 450 of their stores that had been closed were doing better than expected as their re-openings hit affected areas. According to Reuters, Macy’s thinks a return to normal is still at least a year away. “We do not see a return to normalized trends until well into 2021 and possibly not until 2022,” interim Chief Financial Officer Felicia Williams said in an interview with Cowen analyst Oliver Chen.
Sports Worlds Collide in Texas Mixed-Use Project
In the football world, everyone knows the owner of the Dallas Cowboys, Jerry Jones. He’s also a mover and shaker in the shopping center world. His commercial investment development firm, Blue Star Land (see what he did there?), formed earlier this year, and Lincoln Property Co., are building a 36,000-square-foot retail strip shopping center along with an apartment community in Irving, Texas. According to The Dallas Morning News, the 36-acre Star Park development, about a 20-minute drive from AT&T Stadium where the Cowboys play, will feature 288 apartments, and Northland Properties, owned by the owner of the NHL’s Dallas Stars, Tom Gaglardi, will be putting up two new hotels and a restaurant. “We hope to have the retail available and start leasing apartments this fall. We have about half of it leased. We are moving forward now to get it finished,” Blue Star Land general manager Joe Hickman told TDMN.
Fore! Augusta National Purchases Shopping Center Across the Street
In keeping with the sports theme in two-thirds of our articles this issue, the Augusta National Golf Club, which hosts the PGA Tour’s prestigious annual Masters Tournament, has purchased the nearby National Hills shopping center for $26 million. According to The Augusta Chronicle, it’s the club’s largest, single real estate purchase ever. The 159,885 square-foot shopping center was completely renovated in 2011. The club has not released its plans for the site, but, according to The August Chronicle, “In March, Augusta National-affiliated companies acquired $6 million worth of real estate near the club.”
Back-to-Business Opportunities for Brick & Mortar Retail
The industry’s changing environment has kept the DMM research team on their toes. We’ve got tons of data to help you figure out how consumers are adapting to their new normal, and how retailers are doing the same. Looking to target Millennials? Dive deeper into DMM’s data by creating V.I.P. Contact and Prospect files, Custom database files, mailing lists and reports for you based upon your specific needs. You can run a query (check out this example) with any age group to find the number of people within a specific from any shopping center in the nation. Standard formats with any one or more of the six primary contacts can be included along with other fields of data from the most current DMM database, which includes vital statistics on over 8,540 major properties and their 312,000 associated tenants. Click here to learn more.
DMM e-News - Issue #184
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