By Bisnow, Thursday, June 27, 2013

Bisnow Evolution of Downtown

CBM was well represented at Bisnow’s 3rd Annual Evolution of Downtown (LA) event held in the Downtown Arts District at Alameda Square this past Tuesday.

Follow the link below and take a close look at the second photo, and you’ll spot the three CBM’ers — DTLA leasing agent Cassandra Christensen, West LA leasing agent Michael Pakravan & CBM President Rick Rivera — concentrating with wrapped attention!

 

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By Media Post News, Tuesday, June 18, 2013

Industry Is Expanding In Advertising, Social

Retailers are planning to spend big on more stores, digital technology and marketing initiatives in the year ahead, according to a new report from KPMG. And for many, the impact of social media on their business has increased sharply.


By Media Post News, Tuesday, June 18, 2013

Industry Is Expanding In Advertising, Social

Retailers are planning to spend big on more stores, digital technology and marketing initiatives in the year ahead, according to a new report from KPMG. And for many, the impact of social media on their business has increased sharply.


 By The Columbus Dispatch, Monday, January 28, 2013

Dollar General pushing toward 11,000 stores

Dollar General plans to add 635 stores and move 550 existing locations this year as part of its continuing expansion. Central Ohio is going to be part of that expansion.

The discount retailer is building two stores, whose locations weren’t available yesterday, and is studying three other sites, spokeswoman Crystal Ghassemi said yesterday.Each store will employ between six and 10 workers, she said.

Plans for central Ohio “obviously may change during 2013 as we currently evaluate how we meet our customers’ needs,” she said. With more than 10,000 stores in 40 states, Goodlettsville, Tenn.-based Dollar General already has more retail locations than any retailer in America. By the end of this year, the company will open its 11,000th store.

The surge in growth, given the shaky economy, makes sense to one local observer.“Overall, it doesn’t surprise me that they would expand in this market,” said retail consultant Chris Boring of Boulevard Strategies. “Dollar stores have been doing really well in general over the last couple of years. They’ve been taking market share from discount department stores like Walmart in particular.”

Since 2000, 35 to 40 dollar and closeout stores have opened each year in Ohio, Boring said, whereas nine or 10 discount department stores have closed each year in the state.

Ohio has more than 1,100 dollar stores, third-most in the United States behind Texas and Florida.

“They compete with Walmart and Target, but they actually like to locate as close to those stores as possible. They feed off the traffic,” Boring said. “They go into older strip centers where there are low rents.

“If you’ve been in Walmart or Target, they lead with dollar deals. That’s to combat the dollar stores.”

The new stores will mean the creation of 6,000 new jobs, Dollar General officials said. With the addition of those jobs in 2013, Dollar General will have created approximately 30,000 jobs in the past six years, they said.

To support its growth, the retailer will open a distribution center in Pennsylvania by the first quarter of 2014. It will be the 12th in the retailer’s growing distribution network.

In its third quarter, which ended on Nov. 2, Dollar General reported sales of $3.96 billion and net income of $207.7 million.
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By Shopping Center News, Thursday, January 24, 2013

NET LEASE SEES STRONG DEMAND

The single-tenant net leased retail market has seen a lot of change in the past 5 years. It is change for the better, say most executives in the sector, as sales transaction volumes have increased. The change most refer to is in the preferred retailer category. Five years ago, new, freestanding drugstores, bank properties and quick-service restaurants with top credit ratings were most frequently traded. Today, due to a slowdown in retail expansion and development, and a low interest rate environment, new properties from those retailers are hard to come by. When they are developed and sold, they set record cap rates. Most tend to sell to larger institutional investors who have deep pockets and require the yields the properties will pay. That has left individual and smaller investors searching for properties that have strong fundamentals and good performance history.

To get an update on the sector, Shopping Center Business spoke with a number of executives in the net lease sector. Among them were investment sales brokers, 1031 exchange specialists, and acquisitions specialists for investment funds and REITs.

Market Activity

Net lease has been, for several years, the most active sector for investment sales in retail real estate. Those active in the sector saw a slowdown in the market in 2009, but business gradually began to pick back up in 2010 as investors returned to real estate. Net lease became an obvious choice for many acquirers, since the majority of assets trade under $10 million, with most of the volume coming through transactions less than $5 million. At those prices, many investors were able to forego financing altogether and pay cash, allowing them easy entry into real estate assets that provide income with no management necessary.

Click here to read the rest of January’s cover story.


By SCTWeek, Friday, January 11, 2013

Financial planners are a hot new tenant category

Financial-services firms are not exclusively for the wealthy, the economically sophisticated, or the entrepreneurial. In fact, in an effort to draw the mainstream client, increasing numbers of these firms are setting up shop in shopping centers. America’s Retirement Store, for one, opened its first such unit in February, at The Promenade Shops at Centerra, a lifestyle center developed by Poag & McEwen in Loveland, Colo. America’s Retirement Store is a subsidiary of Presidential Brokerage, a Colorado-based provider of traditional financial services. Presidential is targeting small-business owners and professionals with investment portfolios worth between $250,000 and $1 million, as well as concentrating on the everyday folk who comprise an underserved market, according to CEO John DuPriest. “The major firms are mainly looking for clients in the top three or five income percentiles,” DuPriest said. “We think there are opportunities 30 or 40 percentiles below that.” Visitors to America’s Retirement Store receive materials and view presentations on such topics as investing, Social Security and estate planning. One IRA presentation last year drew about 600 attendees.

Many traditional financial planners might decry what they see as the commoditization of their industry, but major firms are entering shopping centers nonetheless. Charles Schwab operates two mall-based stores: one at Front Range Village, in Fort Collins, Colo.; and the other at Clay Terrace, in Indianapolis. Edward Jones has three: at The Avenue Webb Gin, outside Atlanta; at Wolf Ranch Town Center, in Georgetown, Texas; and at The Shops at La Cantera, in San Antonio.

Financial advisers typically operate in traditional office spaces, of course, or perhaps in smaller strip centers. But as competition heats up to serve the baby boomers now at or near retirement age, planners are testing out new ways to reach them. Because visitors to a mall tend to be in a fairly upbeat mood and are there to buy things, malls may be the very best places for financial-advisory firms to build brand awareness and expand clientele, observers say. “They are not only recruiting and retaining customers,” said John Bemis, executive vice president of retail in the Atlanta office of Jones Lang LaSalle, “they are also raising the profile of a customer base that may not be paying attention to financial-planning commercials.”


By Wall Street Journal, Sunday, January 8, 2013

Retail Centers See Modest Growth

Retail shopping center occupancy rates have rise five quarters in a row, pointing toward retail sector growth, despite economic woes, disappointing holiday sales and weak job numbers.

 

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By Forbes, Friday, December 12, 2012

Return to the City: Renewal of Inner City Retail Stores

Three decades after “Urban Flight” sent city dwellers to the suburb’s spacious expanses, young people are returning to city in droves. More jobs, lower cost of living and the promise of a bolder lifestyle are among the chief motivating factors behind this growing trend. And in turn, this population explosion is fueling a revival of long suffering inner city retail stores.

 

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