Sign up to receive news
from The Retail Report

Click Here

Industry News
*Content provided by third-party sources.
Wednesday April 30th
Bisnow: NYC Retail Real Estate Summit
New York, NY

With the unforgiving polar vortex behind us, and consistent upticks in consumer demand dispelling market anxieties stemming from the Fed’s tapering policies, there is only one direction retail is heading. Up! The consumer is back, and retail is king. Come hear about it from the industry leaders themselves at Bisnow’s 4th Annual NY Retail Summit.

Get 20% off by using this discount code at checkout: retailmls2014

Click here to register!

More Information
May 18-20, 2014
ICSC RECon Las Vegas
Las Vegas Convention Center

RECon is the global convention for the shopping center industry and provides networking, deal making and educational opportunities for retail real estate professionals from around the world. With over 34,000 attendees and 1,000 exhibitors it is the largest industry convention, making it an unparalleled opportunity to do a year’s worth of business in just three days! If you are looking to meet retailers to discuss new or existing leases in your centers, view the latest industry products and services that are critical to your business, attend educational sessions or find the next deal, then you need to attend RECon.

More Information
Wednesday June 11th
ICSC: New York Program and Networking Breakfast
New York, NY

Join us and gain valuable insight into the dynamic retail environment in the outer boroughs of New York City.

More Information
Thursday July 17th, 3-9pm
Social Retail Summit #7
Dumbo Spot, New York

Social retail is the new approach to customer relations developed by next generation omnichannel retail brands, from online community to offline sales.

More Information
Featured Article
Sephora’s Brooklyn Debut

Sephora is set to open its first location in Brooklyn. The cosmetics giant inked a deal for a 7,000-square-foot lease in the Brooklyn Municipal Building at 210 Joralemon Street in Downtown Brooklyn. Sephora will carve out the space, along with 1,300 square feet of storage, on the ground floor of the building.

Ginny Pittarelli of Crown Retail Services represented Sephora, and Peter Ripka and Jason Pennington of Ripco represented United American Land, the landlord.

YogaWorks has a 5,0000-square-foot lease in the building, and it will share retail space with Sephora. Additional talks are underway with tenants catering to women’s fashion.

Posted on June 28, 2013

Featured Article
The Future of TOMS – One for One Philosophy Expansion
Screen Shot 2013-06-27 at 9.22.50 AM

Blake Mycoskie, the CEO of TOMS, the popular charitable shoe brand, explains that he wants his brand to be known for more than just shoes. “That’s the way we’re thinking about our future. I think you would see five different products, all under the TOMS name but probably with the infrastructure built out from people who are best in class in that field,” said Mycoskie.

The idea for the brand was conceived on a trip to Argentina, when Mycoskie became very inspired and came up with the One for One philosophy—he decided he would donate a pair of shoes for each one sold, and set out to give away 250 pairs of shoes in South America. Once it was clear that this was a profitable business model, Mycoskie started working on TOMS full time.

Now, seven years later, 10 million pairs of shoes have been donated. TOMS is quickly expanding its retail line and sharing the philosophy of a matched donation with other retailers all over.

Posted on June 27, 2013

Featured Article
GGP Moves Forward with Hawaii Redevelopment

General Growth Properties’ $572 million redevelopment plan for the currently vacant Sears space at Ala Moana Center is moving forward. Sears closed on June 2, and Chicago-based GGP recently submitted a sewer connection application to the City and County of Honolulu, which was approved.

According to the application, the redevelopment will add four levels to the existing parking structure, in what is being called the center’s “Mauka Ewa Parking Expansion.” Additionally, GGP has pulled several building permits specifically for the Sears portion of the project, including one for the foundation with an estimated value of work of $6.5 million, and another permit with work valued at $154 million. A building permit for parking deck expansion involves work valued at $1 million.

Posted on June 26, 2013

Featured Article
Real Estate Equities Makes SoHo Retail Acquisition
Screen Shot 2013-06-25 at 2.32.01 PM

Howard Michaels, Chairman of Carlton, has recently spread word that his firm represented Real Estate Equities in their $81 million acquisition of 375 West Broadway, home to retailer Anthropologie. Steven Fenster, a Carlton representative, led the transaction. Fenster set up a commercial bank financing with one of their overseas equity relationships in order to facilitate the acquisition.

Real Estate Equities is headed by Michael and Brandon Miller, father and son, and Mark Siegel. They closed on this acquisition with Carlton, who had access to an overseas investor. The space features 55,700 SF, located between Broome and Spring Streets. They purchased the building from a family who purchased the building decades ago.

In addition to the overseas investor, Carlton arranged a first mortgage financing form an international commercial bank.

Posted on June 25, 2013

Featured Article
Alexander Hill
Screen Shot 2013-06-20 at 11.27.54 AM

Alexander E. Hill started at Winick Realty Group LLC in 2008. Born and raised in the Riverdale section of the Bronx, Mr. Hill has always had a strong connection to New York City and its five boroughs. Before coming to Winick, Mr. Hill worked in the marketing division for Investment Banking at Lehman Brothers. This was [...]

Posted on June 20, 2013

Featured Article
Williamsburg Parcels Trade for $27M

This week, a group of investors led by Coldwell Banker Commercial Alliance acquired a portfolio of six parcels in Brooklyn’s Williamsburg for $27 million. The sell was 170 South First Street, LLC, which is also the address of one of the parcels.

“We were working with six separate parcels, which made the sale inherently complicated,” said CBC Alliance principal Peter Sabesan in a press release. “But each of these properties offers opportunities for retail and/or residential development in a robust marker and we were able to bring all of the parties to the table quickly and amicably.” Sabesan represented both the buyers and the seller in the deal.

Posted on June 20, 2013

Featured Article
Retail Real Estate Acquisitions Heating Up

As the economy makes progressive improvements, so does the retail market. Retailers are spending more and more money, generating an increase in sales. This, in turn, has sparked an interest in real estate investors in the retail market. For good spaces in good locations, there is a lot of competition. Globe St. interviewed Gary Goodman, the vice president of acquisitions at Passco Cos., recently about the new retail acquisition competition.

When asked about competition for shopping center acquisition, Goodman explained that it has increased dramatically over the course of the last 12 months. He discussed the types of buyers in the market, saying, “It’s the usual players that are active in the market, but they have ramped up their efforts. The REITs have definitely increased their interest in buying and private equity has entered the market more actively than before. It’s a combination of that activity.”

Posted on June 20, 2013

Featured Article
Best Buy and Microsoft Build Strategic Partnership

Best Buy has announced plans to open in-store shops for Microsoft Corp. Best Buy plans on transforming computing sections in 600 of its retail stores into mini Microsoft stores, featuring computers, phones, and videogame machines. Aesthetically, this part of the store will differ from the rest, with wood floors and prominent Microsoft colors and logos. These mini stores are projected to start opening this summer.

Microsoft has been expressing for a long time now that it wants to improve the shopping experience for consumers looking for Windows 8 computers, particularly because sales for personal computers have gone extremely low—the lowest in almost 10 years. In order to boost sales, Microsoft is working hard on some software tweaks.

Microsoft has been looking into the great success that Apple has had with all of its brick and mortar retail stores, where it is fully in control of the looking and shopping experience. While Microsoft has had its own retail stores in the past, people turn to Best Buy more often for computers, so this strategic partnership could be great for Microsoft.

Posted on June 19, 2013

Featured Article
Dunkin’ Donuts Unveils New Design

Dunkin’ Donuts has revealed a new look for its franchises in the company’s first redesign in nearly seven years. In an effort to lure customers in and have them sit down, and hopefully boost afternoon sales, the fast food chain has come up with four design themes that franchisees can choose from when remodeling.

Named for coffee, “Original Blend,” “Cappuccino Blend,” “Dark Roast,” and “Jazz Brew” offer variations on the pink and orange theme traditionally found in Dunkin’ Donuts, and they include comfortable, café- style seating. Most restaurants will offer free Wi-Fi, and some will also have flat-panel televisions, satellite music, and soft seating. Redesigned signage and canopies will modernize the drive-thru, while interactive, digital menu boards will use video and add color to indoor counters.

On the environmental front, the new store designs also include LED light fixtures, no VOC paints, and wall tile with 35% pre-consumer recycled materials.

Posted on June 18, 2013

Featured Article
Guest Blogger Faith Hope Consolo: ‘The Faithful Shopper: Hot, Haute, Hamptons’
Screen Shot 2013-06-17 at 11.53.18 AM

Originally appeared in The Huffington Post

It’s that time of year, when those of us in the “fashionista know” escape to our favorite beaches at the Hamptons. The fun part is that many of our favorite shops and designers do, too, opening seasonal boutiques in this storied resort area. Here are some terrific opportunities to get out of the sun:

Exciting East Hampton

Aesop – 55 Main Street
This Australian skin care retail comes to the Hamptons for the first time – check it out for fun, but effective regimens to soothe, hydrate and remake your skin!

Alice + Olivia – 48 Main Street
Anything you need for summertime from beachwear to clothing for the casual fund-raiser from this terrific line.

Posted on June 17, 2013

Featured Article
Guest Blogger Michael Stoler: Israeli Burger Chain Plans its Invasion of North America
Screen Shot 2013-06-14 at 3.32.19 PM

Five Guys, Fat burger, McDonald’s, Burger King beware competition is traveling to North America from the State of Israel.

In 2008, Tel Aviv’s burger industry was bustling with a variety of burger chains eager to satisfy the western cravings of Jerusalem’s globetrotting youth and food trending fanatics.

Israel, being heavily influenced by American culture, had embraced the All-American burger and could not get enough of the classic fare. With burger establishments cropping up on every corner, a new chain Burgerīm joined the ranks of competitors. The company offers mini-burgers with a variety of flavorful meats and delicious toppings, and fresh approach to sides and salads, Burgerīm according to its web site started a Burger Revolution.

Posted on June 14, 2013

Featured Article
Jared Epstein
Screen Shot 2013-06-13 at 11.22.11 AM

Jared Epstein is the VP and a Principal at Aurora Capital Associates based in NY, NY. Aurora owns over 150 properties throughout the major US cities with an estimated value in the billions. Aurora’s expertise is adding value to unique assets located on the very best retail corridors. The firm is the largest landlord in [...]

Posted on June 13, 2013

Featured Article
Target Delivers Dividends

At a recent shareholders’ meeting, the Target board of directors announced on Wednesday that it was boosting its quarterly dividend 19.4 percent to 43 cents a share. Target will pay its next quarterly dividend in September.

The increase ups the annual payout to $1.72, and it advances the company toward its long-term commitment to increase the full-year dividend amount to $3 by 2017. The boosted dividend increases the payout ratio of stock immediately, and the company is now paying out just over 40 percent of its earnings as dividends, compared to 33 percent prior. Additionally, the company has established a target of growing earnings per share to $8 over the same time frame, up from $4.26 last year.

Posted on June 13, 2013

Featured Article
REBNY Retail Deal of the Year Awards 2013

The Real Estate Board of New York (REBNY) hosts an annual Retail Deal of the Year Awards, held at Club 101 at 101 Park Avenue. This years winners were CBRE’s David LaPierre for the “most ingenious and creative” award for the 30,000 SF in Times Square that he leased to Express, and SCG Retail’s Jacqueline Klinger and Chase Welles for the “most significant” prize for bringing Whole Foods to Harlem. Jeff Sutton was the landlord for both deals.

The lease for Express was an interesting series of events. They had signed a lease for the long-vacant former ESPN Zone at 4 Times Square, but grew frustrated when the space wouldn’t be ready to open up their flagship this year. With that in mind, David LaPierre offered the retailer the option to move into two parcels, 1552 and 1560 Broadway. The space was ready, but it was much higher rent. LaPierre was able to sell Express on the higher rent, while crafting other revenue streams for them to make up the difference. LaPierre explained, “Things just happened to click, as with all good deals they do.”

Posted on June 12, 2013

Featured Article
Macerich Sells Properties for $470 Million

Macerich Co. has agreed to sell its Green Tree Mall in Clarksville, Ind. as part of a five-property portfolio, which will result in adjusted proceeds of about $470 million. The buyer is unknown.

Additionally, the REIT has sold the an office complex in the Redmond Town Center mixed-use project in Redmond, Wash., and is under contract to sell three more unnamed malls.

The average annual tenant sales per square foot for the mall dispositions is $389. Concurrent with the sale of the Redmond complex, the company paid off its pro rata share of debt on the project of $58.7 million.

After the dispositions, Macerich said it will own more than 61 million square feet of real estate consisting primarily of interests in 57 regional shopping malls. The company focuses on regional and community malls, and has generally reported results growth over the past two years as occupancy and rent rates show signs of stabilizing.

Posted on June 11, 2013

Featured Article
Lululemon Athletica Searching for New CEO

Lululemon Athletica is in the market for a new CEO. Former CEO Christine Day, who had run the company since 2008, recently stepped down three months after the embarrassing and expensive recall of Lululemon’s top-selling yoga-pants. Day stated that she would be stepping down when the company found a replacement. There was not much information reported regarding the reasons why Day was leaving, which came as rather surprising news considering her strong run in retail. It was, however, explained by Day that she had grown exhausted of the 18-20 hour days and didn’t want to commit to another three or four years of heavy travel during Lululemon’s future expansion plans.

“This was a personal decision of mine. It’s never a perfect time to leave a company you love,” explained Christine. She received $4.28 million for the company’s 2012 fiscal year, including salary, stock, and options awards.

Posted on June 11, 2013

Featured Article
ICSC: New York Program and Networking Breakfast

Join us and gain valuable insight into the dynamic retail environment in the outer boroughs of New York City.

Posted on June 11, 2013

Featured Article
Guest Blogger Michael Stoler: Despite Current Projects, New York City Boroughs Still Under Retailed
Screen Shot 2013-06-10 at 9.45.11 AM

New York City is the number one retail location in the world. Retailers from around the world flock to open flagship stores throughout the Big Apple. Apple’s store on Fifth Avenue, with its familiar cube, has the highest revenue of all Apple stores. Then there are the flagships of Uniqlo, Zara, Tiffany & Co., Bergdorf Goodman and a cast of others. Nevertheless, when you ask prominent owners of commercial real estate as well as local and national retailers, the general consensus is that the outer boroughs of New York City are severely under retailed.

Eastern Consolidated’s Barbara Byrne Denham reported in May 2012 that retail sales per capita ratios for the outer boroughs were far below the national average. Brooklyn was 39 percent below, Queens was 40 percent below and the Bronx came in a whopping 60 percent below.

“Our biggest problem is securing sites in the five boroughs to build adequate retail,” Christopher Conlon, chief operating officer and executive vice president at one of the most active developers of urban retail in the boroughs-Acadia Realty Trust-told The Mortgage Observer. Thomas Caputo, president of Equity One, a REIT active in development of retail sites in New York City and Long Island, concurred with Mr. Conlon on the lack of adequate retail in the boroughs.

Posted on June 10, 2013

Featured Article
Secrets Behind Shake Shack Expansion

Danny Meyer of Shake Shack has a clearly thought out strategy on how to make an infamous burger chain bigger by appearing smaller. Last summer, the chain had a total of 12 locations, and by the end of 2013, they will have grown to at least 33 restaurants across 6 different countries. The vision of Shake Shack is to offer upscale fast food without increasing the price too much.

Meyer is a firm believer in slowing down and creating restaurants as if each were his one and only. The Shake Shack team often refers to the burger chain as the “anti-chain” chain. When speaking about Shake Shack’s competition, like Five Guys, In-n-Out, and Smashburger, CEO Randy Garutti explained, “We love their concepts, we think they do fabulous things, but we’re different than that. We’re on the outside of that, because our goal isn’t to franchise domestically. Our goal is not to do hundreds a year. That would dilute what we do.”

So the question is, when should Shake Shack’s growth stop? It currently has less than 40 locations, but then it will get to 50. And down the road, to 100 locations. How many is too many for the image the company wants to portray? Expansion has already caused a change in the quality of meat. When Shake Shack expanded into Florida, it switched from a Pat LaFrieda specialty blend to a Miami purveyor called Bush Brothers. “It’s the same cuts, the same process, the same overnight fresh shipment,” said Garutti.

Posted on June 7, 2013

Featured Article
QIC to Buy 49% Stake in 8 Malls for $425M

Australian investment manager QIC has made its first direct investment in North American real estate through eight separate joint ventures with Cleveland-based developer Forest City Enterprises. Brisbane-based QIC will pay Forest City about $424.8 million for a 49 percent interest in eight regional shopping malls. The malls are valued at a combined $2.05 billion.

Sales at these malls currently average approximately $500 per square foot, according to the companies. The joint venture’s primary focus will be renovating and expanding four of the malls.

“We intend to make further investments in the North American market, and our focus is on the unlisted retail sector,” said QIC Global Real Estate managing director Steven Leigh. “We like the fundamentals for retail in North American where consumer sentiment and trading conditions are improving.”

Posted on June 6, 2013

Featured Broker
Job Board
your first ad

  • See More