DMM e-News – Issue #93
NYC’s Westfield World Trade Center Opens Before 9/11 Anniversary
Here in the DMM newsletter we occasionally document new construction projects going on around the country. There are no real criteria for why we choose one mall or shopping center over another; the process is more or less random. Except this one. It was 15 years ago that the worst terror attack on American soil took place. Last month, lower Manhattan, also known as “Ground Zero” where the former World Trade Center towers once stood, the Westfield World Trade Center mall opened. According to The New York Times, Daniel A. Nigro, NYC’s fire commissioner, who was standing at the base of the South Tower on Sept. 11, 2001, when the second plane hit, said, “Adding something to this 17 acres is important. It feels good that something is here again, that people are here again and people are smiling and enjoying themselves again.” The New York Daily News had a photo slide show of the grand opening you can see here.
Summer’s Over…Now Here’s Your (Helpful) Homework
If you’re like me, you have kids who promise they are going to read over the summer, but usually fall short (ok, in my house, maybe my kids’ dad – yours truly – is the one who falls short in that category more often, but I digress). Thankfully, National Real Estate Investor Online has come out with its Top Ten list of commercial real estate industry articles. Here’s the list. The articles, from several publishers, cover a variety of topics, including how the S&P 500-beating REITs could return up to 13%, Banks’ Commercial Real Estate Exposure and How Millennials Influence Office and Multifamily Design Trends. What was your favorite / most helpful piece? Tell us via Twitter or on our “Contact” page.
Target Eyes Food Segment, Aims to Boost In-Store Grocery Experience
We’ve heard much about competing with the internet and mobile technologies. Critical to that competition is keeping people interested in coming to a store, valuing the in-store experience over the “convenience” of having products shipped direct to one’s home. For Target Corp., food service is at the center of keeping shoppers hungry for a better in-store experience. Progressive Grocer spoke with Target SVP of Merchandising, Anne Damentabout, it in a two-part series, (check out part one here). “[G]rocery is a critical component that we’re working to leverage as part of Target’s overall strategy. Target’s food segment represents more than half of our total transactions,” she said.
DMM’s Trend Demographics
Why use Trend Demographics? They’re great for clients who want to assess the size of a potential market and determine whether their products or services are reaching their most important consumers. The latest DMM Trend Demographics have been cross-referenced with the exact locations of individual U.S. shopping centers and mall locations and then aggregated to create our exclusive, enhanced demographics data. We call them “Buffer Zones”. Our smart data “Buffer Zones” (not these “buffer zones”) reflect demographic information for 5, 10, and 20-miles around each individual U.S shopping center/mall. Click here to find out more.