A LEADER IN RETAIL REAL ESTATE FEASIBILITY
Justine Griffin / Herald Tribune – Taubman Centers, one of the developers of the new high-end mall in Sarasota County, is selling seven other shopping centers to Starwood Capital Group for $1.4 billion.
The Michigan-based company helping to create the Mall at University Town Center — the only enclosed mall scheduled to open this year in the U.S. — is shedding seven of its underperforming centers in an effort to reinvest in its more profitable ones and in future projects, retail analysts say.
Jeff Green comments on RECon takeaways – “We’re seeing more and more shopping centers and malls being redeveloped into hybrid centers, in part because our industry is getting smarter about the impact of local demographics. Twenty years ago, all malls looked the same with a cookie-cutter, formulaic mix of tenets, and now we’re seeing individual communities become a much more important part of the picture in selecting retailers. Local chef-driven restaurant concepts—an emerging trend of the past few years—have truly hit their stride. Today, developers are seeing these concepts as draws that can really broaden the appeal and reach of a specific center. It’s all about creating unique destinations for shoppers.”
Mark Brodie / 91.5 KJZZ – It may be hard to believe this time of year, but shopping centers are starting to open themselves up to the elements. And this new wave of outdoor malls doesn’t just include stores and restaurants, but also office space and housing.
Jeff Green is president of retail consulting firm Jeff Green Partners. He met me at one of the new kids of malls, Scottsdale Quarter, which is across the street from a similar center, Kierland Commons.
Ryan Kneller / The Morning Call –
Like spring flowers, mom-and-pop pizza shops have been blossoming in the Lehigh Valley in recent months.
The latest addition is Suzanna’s, which opened May 29 at 2918 William Penn Highway in Palmer Township. The 35-seat restaurant joins the area’s growing list of independently owned pizza venues that includes other recent additions The Crust in Hanover Township, Northampton County, and Villa Grande Pizzeria Restaurant in Bath.
Justine Griffin / Herald Tribune – Southwest Florida, already flush with new arrivals, is poised to welcome even more new grocery brands as companies out West continue to expand into the Southeast.
Retail analysts buzzed about Sprouts Farmers Market last month at the International Council of Shopping Centers RECON convention in Las Vegas.
The boutique-like grocery chain concept out of Arizona competes with Whole Foods Market and Trader Joe’s, and is now one of the fastest-growing retailers in the country with more than 170 stores in nine states.
Rudy Harper / Fox 14 – Updated on May 30, 2014: A feasibility study helps attract two well known restaurants to the city of Pittsburg.
Rib crib will open a location on the north side of Pittsburg.
Buffalo Wild Wings hopes to follow suit, pending approval from the city’s planning and zoning committee.
Results from a feasibility study conducted in January show Pittsburg is under-stored; meaning there’s potential for new retail and restaurant spaces.
The city used the study as a tool.
