Reprinted from BisNow Coast to coast, bustling retail meccas used to embody a decidedly American pastime: shop till you drop. But empty storefronts across the U.S. have cropped up in places that go far beyond the “retail apocalypse” that has battered suburban malls — and some municipalities are fed up. From retail corridors nestled in […]
Reprinted from The New York Times ALEXANDRIA, Va. — Karleen Smith used to work at the Macy’s in Landmark Mall, putting price tags on summer dresses, housewares and the latest styles of shoes. On Saturday, Ms. Smith, 57, returned to her former store, not as an employer or a customer, but as a resident. The […]
One Boston politician is tired of seeing vacancy signs in even the city’s poshest neighborhoods. Boston City Councilor Matt O’Malley announced Monday he will introduce an order for a hearing at Wednesday’s Boston City Council meeting to address vacant properties throughout the city. The move comes in response to empty storefronts in high-demand business districts like Back Bay […]
Reprinted from ThanMerrill.com Commercial redevelopment has become synonymous with the most lucrative exit strategies known to investors. While their commitment is more than that of the average residential project, the returns can be much more impressive. It’s worth noting, however, that returns extend far beyond padding your bottom line. The right commercial redevelopment project can […]
Reprinted from Shopping Centers Today For three decades the once-grand former department store stood empty. But a team of developers has restored and converted the 400,000-square-foot Hahne & Co. building, in downtown Newark, N.J., into a mixed-use project with the city’s first Whole Foods store and 75,000 additional square feet for retail. The renovated building also features […]
Reprinted from National Real Estate Investor (Bloomberg)—Covington, Ky., a city of 40,000 across the Ohio River from Cincinnati, seems like an odd place for a high-end hotel. For Mario Tricoci, that’s a selling point. Last year, the Chicago developer hooked up with a local real estate investor on a $22 million retrofit of a century-old, […]
Reprinted from money.cnn.com There’s a love affair happening with an unlikely type of real estate: America’s empty factories and warehouses. Vacant commercial spaces are in high demand as both startups and multinationals look for facilities to house their U.S. operations. Several factors are driving this trend, according to Stuart Lichter, president of Industrial Reality Group, one […]
Reprinted from www.gordonbrothers.com Today’s retailers face unprecedented challenges in the marketplace as they confront the evolution of not only customer shopping patterns, but also how retail is defined. Historically, top tier retailers thrived because they had the best locations and offered desirable merchandise at a great value proposition. Add to that efficient merchandising controls and […]
Reprinted from The Wall Street Journal Overbuilding, e-commerce force landlords to get creative with new developments Visitors used to flock to the Highland Mall in Austin, Texas, around the holidays to stroll through the city’s first enclosed shopping complex and admire the giant Christmas tree crafted from poinsettia plants. But this holiday season, no shopping […]
Reprinted from http://www.courierpostonline.com/ CAMDEN – What happens when you restore rundown buildings that contribute to violence? Camden is about to find out. The Michigan Youth Violence Prevention Center has received $6 million from the Centers for Disease Control and Prevention to continue its studies on how improving vacant properties affects violence, property crimes and intentional injuries among youth. […]