Development NEWS
Shopping Centers Today Big Gains for Small Shops
Small-shop tenants took a hit when credit dried up after the 2008 financial crisis. Now, a decade later, some landlords are reporting record-high occupancies and rents for these operators, generally defined as those leasing space of 10,000 square feet or less. The gains are attributable to a robust economy and to such trends as consumer obsession with beauty, health and fitness, experts say.
READ MORELandlords and Ridesharing Companies Pursue Synergies
Expect to see more partnerships between ridesharing companies and shopping center landlords. In the past, these parties have teamed up to promote discounted or free rides, often during the holiday season or for special events — but only temporarily. Today they are entering into longer-lasting agreements for designated drop-off and pickup locations, typically highly visible through signage. And they are offering riders promotions or discounts as well as introducing lounges and driver hubs into the properties.
READ MORERetail Apocalypse? Strategic Planning Helps Valley Shopping Center Thrive in Competitive Market
There seem to be ways around the so-called “retail apocalypse,” but it means more work and spending more money for the owners and operators of shopping centers.
READ MOREVestar Retools Retail Units as State-Of-The-Art Experimental Space
As the retail sector continues to react to the rise of e-commerce platforms — as well as to changes in consumer spending habits and broader economic trends — developers and landlords are increasingly repurposing their retail spaces, according to privately-held shopping center owner and property manager Vestar.
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$22 Million Redevelopment Puts Phoenix’s 15-Year-Old Desert Ridge Marketplace Back in the Heart of its Community
One could say that Desert Ridge Marketplace has grown up with its customers. The 1.2 million-square-foot lifestyle and power center, located in the 5,700-acre Desert Ridge master-planned community of the Phoenix Northeast Valley, officially reopened this past November, after a $22 million renovation.
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West 7th in Fort Worth Announces New Name ─ Crockett Row at West 7th
West 7th in Fort Worth has unveiled its new name and branding as Crockett Row at West 7th. The name is inspired by Crockett Street, which runs through the middle of the development and is lined with specialty shops and patio restaurants. The Crockett Row at West 7th logo and branding reflect a clean, modern look that also proudly pay homage to Cowtown’s western culture.
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