Turning Modern Shopping Centers into Rest Areas that Have It All
Slowly, but with the pace gaining some steam, EVs are becoming more and more popular among drivers in the United States. Charging stations are popping up in various places: at commuter parking lots, college campuses, and shopping centers. The latter makes complete sense. The car can sit and juice up, while the owner can run some errands, grab a meal, even see a movie. In a recent article on GlobeSt.com, Mike Battaglia, Senior Vice President of Sales and Business Development at Blink Charging, said EV charging “…draws a very nice demographic of customer [to shopping centers]. You look at the demographic of a Tesla customer and it’s awesome. You want that customer coming to your center.” Edie Trott, senior marketing manager at NewMark Merrill Companies, sees EV charging as an amenity for shoppers and a service they provide the community. Data is piling up about how much money people are spending at malls and other retail shopping centers while their cars are charging. Combine that with the demographic and segmentation data to identify consumers found at ShoppingCenters.com, and you’ve got the right combination to take the checkered flag!
Are You Ready for the Holidays? Placewise Has Your Back
The holidays are right around the corner. Literally. Are you ready? While neither Pfizer or Moderna has come up with a vaccine to prevent inflation and supply chain issues from recurring, analysts have indicated the 2022 season will improve slightly over 2021. In a guest commentary feature exclusive to ShoppingCenters.com, John Dee, President of Placewise Americas, suggests with the coming holiday season, it’s important for shopping centers to support their tenants, after all, if they win, everyone wins. How can that be done? One idea is to help them maximize their visibility. “Comparison shoppers are looking for deals and promotions – so get as much as you can from your retailers and get it in the hands of your shoppers across all of your digital channels – website, email clubs, social media, advertising, loyalty programs and however else your shoppers connect with you, including your holiday events,” Dee said. Click here for the full article on ShoppingCenters.com.
City Council Approves $1 Billion Mixed-Use Future for Lakeside Mall
Lakeside Mall in Sterling Heights, Michigan, built in 1978 with a retail GLA of more than 1.5 million square feet, is looking to get a makeover. That’s according to a recent article by The Detroit News. The Sterling Heights City Council approved a deal with the shopping center’s new owner, Lakeside OOTB Ventures LLC., an affiliate of mall owner, Miami-based Lionheart Capital, to develop a mixed-use center. The project comes in at about one billion dollars, according to the Detroit Free Press. The vision calls for more than 2,800 multi-family apartments, with 750 set aside for senior housing. It’ll also include about 150,000 square feet of retail and dining, 60,000 square feet for office space, a 120-room hotel and a park. “Lakeside will provide a wide range of market-rate housing options for all demographics, from the young professional to the senior. Its location close to major thoroughfares yet away from residential zones will help to minimize traffic in single-family neighborhoods,” said Allison Greenfield, principal and chief development officer of Lionheart Capital. The project could begin in late 2024.
Spotlight on a Top 10 Growth Market Center:
The Mall at University Town Center
The Mall at University Town Center
140 University Town Center Drive
Sarasota, FL 34243
The Taubman Company
Gross Leaseable Retail Area
861,000 sq. ft.
Dillard's, Macy's, Saks Fifth Avenue, Kids Foot Locker, Anthropologie, Talbots, Boss Hugo Boss, H&M, Tommy Bahama, Cinnabon, Seasons 52, Kay Jewelers, Forever Flawless, Claire's, Apple, LensCrafters, Zarzis Olive Oil
According to the trade area analysis available on ShoppingCenters.com:
- Primary Market Population: 558,133
- Average Household Income: $103,238
- Number of Households: 248,336
- Average Shopper Age: 48.9
- Projected Five-year Income Growth: 15.24%
Learn How ShoppingCenters.com Data Can Work for You in Our New “Applications” Section
Exciting news, we’ve just gone live with a redesign to the ShoppingCenters.com site. Included is our new “Applications” menu, formerly known as “Industry” pages. Each option provides insight about the DMM data we’ve compiled and analyzed and how it can work for you. Learn how Financial Consultancies, Hedge Funds and Private Equity firms can utilize our data for Asset Valuations & Private Equity Investment Analytics, or how Retail Planners and Brokers use it as a foundation for managing shopping center health across the United States and Canada and monitoring tenant strength. And how the DMM data is a single source solution for your business development, marketing, and sales teams to connect with prime shopping center contacts throughout the U.S. and Canada and help you determine which projects are the best targets for you. Visit ShoppingCenters.com, and select any of the five options under the “Applications” tab and start uncovering this insight today. Contact us if you have any questions or feedback.