DMM Retail Industry e-News Issue #206

Owners Offer Small Business Opportunities in Mall Re-Design… Is the Secret in Furniture Stores… Baseball Team to Choose Mixed-Use or Move Out

small businessNew Owners of Charleston Town Center to Offer Small Business Opportunities in Mall Re-Design

When malls and shopping centers are re-imagined and re-invented, they usually try to lure in large national chains or familiar brands to help lure customers. And, of course, they can do that. The new owners of the Charleston Town Center in Charleston, West Virginia, told WSAZ TV recently they are looking to focus on small business owners who want a brick-and-mortar store, rather than focus on familiar department stores. “We cannot pull a rabbit out of a hat. Everyone wants an X, Y, Z store here and X, Y, Z store there. What we can do is create an atmosphere that if a store wants to come to Charleston, we’re inviting. We’re seeing ghost kitchens, meal prep to go. There are a lot of different elements that go together that we can utilize in this space,” said John Mulherin, VP of government relations with Hull Property Group. As plans develop, the Center is likely to see new additions, retail, a hospitality, entertainment, and potentially housing.

furniture storeFuture of Retail: Is the Secret in Furniture Stores?

There are all sorts of things people like to buy that they just can’t relegate to the internet just yet. Sure, graphics are pretty good on the computer and your cell phone, but to really understand how that cabinet looks or how that sofa feels or how big that table actually is and what it looks like in your kitchen, well, that has to be experienced in-parson. The owner of “Retail in the City,” a boutique retail design services firm recently noted in Furniture World Magazine that the in-store experience needs to be re-thought, particularly post-COVID. “Deprived of human interaction for a prolonged period during the pandemic, customers instinctively want someone to give them the personalized shopping experience they’ve missed. The new Furniture Mall of Texas store, for example, makes it easy for customers to bond with the brand and enjoy the experience of furnishing their homes. They offer small three-wheel bikes that customers use to ride around while shopping [and they have] a live entertainment area where musicians perform while customers relax and try out recliners,” said Jennifer Magee, Founder, Retail in the City.

Oakland A's StudiumCA Baseball Team’s Options: Mixed-use Development or Move Out

It’s been a long time that the Oakland A’s of Major League Baseball has needed a new stadium. As the last major professional sports team left in the city, the team is considering moving out or building a mixed-use development on nearby waterfront property just a few miles from their current and woefully antiquated ballpark. According to ESPN, the new development would feature 3,000 units of affordable housing, office and retail space, and a hotel, and is considered the most likely option to succeed. The Associated Press quoted A’s president Dave Kaval: “We’re hopeful that our really exciting [$1 billion Howard Terminal] project plan for a waterfront ballpark that’s privately financed…is kind of a once-a-generational opportunity to reimagine the waterfront.” AthleticsNation.com notes that this current project has made it further with the Oakland City Council than any other similar projects before it. The team is also considering moving to other cities, including Las Vegas, Portland, Nashville, Montreal and others.

Spotlight Listing
Spotlight Listing
Details

Maple Tree Place

28 Walnut St.
Williston, VT 05495
Website

Stats

Gross Leaseable Retail Area
485,040 sq. ft.

Year Opened
2001

Owner/Developer
Brookfield Properties Retail Group

Retailers

Retailers Include
Best Buy, Christmas Tree Shops, DICK'S Sporting Goods, Majestic Cinema, Shaw's, Staples, New Balance, Torrid, Men's Wearhouse, Carter's, LongHorn Steakhouse, Argento Laraine Jewelry, Yankee Candle, AT&T

Summary

Summary
Maple Tree Place features an attractive mix of dining, shopping, and entertaining options with a state-of-the-art movie complex and family-friendly events. Maple Tree Place serves a primary market population of 140,250 with an average household income of $94,929.


Shopping Center Data Helps Leasing Agents/Brokers Stay Up-to-Date

As a leasing agent/broker, it’s critical that you stay up-to-date with the latest retail projects and opportunities. Our data shows that 23% of the conventional enclosed malls that are on ShoppingCenters.com have plans to re-configure or re-develop in the next few years. On top of that, more than 5,000 anchor stores are vacant. What can you do with those properties? The possibilities are endless! With DMM/ShoppingCenters.com in your toolbox, you can ensure a profitable year with a robust strategy for your retail leasing. Click here for more details.