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Events
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!

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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.

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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.

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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.

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Featured Article
Happy Halloween from RetailMLS to You!
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RetailMLS wants to wish everyone a very Happy Halloween! For those who want to celebrate, there are several haunted houses going on around NYC! The most well known of these are Nightmare Killers 2, Blood Manor, Coney Island Criminals, and Haunted High Line.

Nightmare Killers 2 guides its visitors through some of history’s most ignoble murderers, one scene at a time. This includes stories of people like John Wayne Gacy, Jack the Ripper and Harrison Graham. This house is more amusing than scary. It is located at 107 Suffolk Street and runs until November 2nd.

Blood Manor is known as the city’s Haunted Housiest of Haunted Houses. It has the conventional scares one would think of when they hear of a Haunted House, including a butcher covered in blood, and bride covered in blood, clowns, and much more. This house is located at 163 Varick Street, and goes until November 2nd.

Posted on October 31, 2013

Featured Article
“Risky Listing” Bringing Retail Real Estate to Reality TV
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The new hit reality television show, Risky Listing, features a cast and crew from Picken Real Estate, a commercial brokerage firm based in Gramercy Park, which specializes in nightclub, restaurant, bar, and lounge sales and leasing in Manhattan and the Hamptons. The show will premiere on November 19th on the Esquire Network, and will delve into the high-dollar, drama world of New York City real estate. Alexander Picken, founder of the real estate firm, will be anchoring the show.

Real estate and reality television have definitely come together recently, with Million Dollar Listing, House Hunters, Selling New York, and others. Most of these shows have focused on the residential real estate world, so nightlife seems like a perfect start for reality TV to break into the commercial side.

“That side of the industry is kind of rampant with people showing listings and never getting a response, or never getting a response and later finding out somebody went behind their back. It’s not much fun to work in because of the situation, but I guess it would make a good drama,” explained James Famularo of New York Commercial Real Estate services. “In the real commercial world, we’re at our desks at 7 a.m., and G-d forbid you don’t return a call right away or answer on the first ring. But the nightlife thing, expect a response at like 10 or 11 at night.”

Posted on October 31, 2013

Featured Article
Kimco to Purchase 24 New England Retail Properties for $270M
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Kimco Realty Corp. announced last week a major acquisition: a 24-property retail portfolio in New England. The deal will add 1.4 million square feet (96 percent of which is occupied) to Kimco’s portfolio, with 17 properties in the Boston metropolitan area. The buyer has not been identified in the $270 million deal brokered by HFF. Kimco is assuming $121.5 million of mortgage debt as part of the deal.

“This acquisition is in line with our communicated strategy of focusing on key territories which boast solid demographics and growth potential,” said David Henry, Kimco’s president and CEO. “The assets are largely located in the high barrier to entry Boston market with attractive infill locations and a large consumer base.”

Anchor tenants make up 81 percent of the base rents, and they include Whole Foods, Trader Joe’s, Lowes, Kohl’s, Petco, Pier 1 Imports, Aldi Supermarket, CVS, and Walgreens. Additionally, the portfolio includes four other Massachusetts shopping centers, three of which are near Cape Cod, two high volume Kings Supermarket-anchored centers in northern New Jersey in close proximity to New York City, and one Wal-Mart-anchored center in Danbury, Conn.

Posted on October 29, 2013

Featured Article
Guest Blogger Michael Stoler: Coffee Roasters and Coffee Cafes Opening All Around the City
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While Starbucks, Dunkin’ Donuts and 7-11 continue to expand in the Big Apple, a number of coffee roasters and coffee cafes are joining in the growth of java joints.

In the heart of Long Island City is the home of coffee roaster “DeMarco”, whose specialty includes roasting fresh to order coffee on a daily basis. With decades of experience in gourmet coffee roasting and distribution, last year the coffee opened its first retail location at 569 Lexington Avenue at the entrance of the Doubletree Metropolitan Hotel NYC.

Red Hook section of Brooklyn is the home of the NYC roasting operation for Portland based Stumptown Coffee. Their first café in the Big Apple debuted on Labor Day of 2009 in the Ace Hotel at 29thStreet and Broadway. The company has opened its second location at 30 West 8th Street this summer.

Posted on October 28, 2013

Featured Article
Widespread Presence of Pop-Up Stores Raise Questions for Landlords
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With Halloween approaching and the holiday season not far behind it, pop-up shops touting specialized merchandise are sprouting all over the country. The question is whether they are a positive or a negative trend for retail landlords.

Smaller retailers, artists, and craftsmen are no strangers to pop-ups, kiosks, and carts to sell seasonal products, but an increasing number of large retailers are participating, causing some landlords and analysts to worry that the trend is another sign of a declining need for permanent retail space. Home-furnishing giant Crate and Barrel is a prime example, as the company announced it would operate pop-up stores for the first time in its nearly 50-year history.

Christina Norsig publishes the website PopUpInsider and authored the book “PopUp Retail: How You Can Master This Global Marketing Phenomenon.” She believes the number of pop-ups has exploded because both retailer and landlord stand to benefit as the landlord makes revenue from property that would otherwise be unproductive. In malls, installing pop-ups is akin to replacing a missing tooth—it supports the health of all the surrounding businesses.

Posted on October 24, 2013

Featured Article
Brixmor to Raise up to $787 Million for IPO
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Brixmor plans to raise up to $787 million in shares for $19 to $21 each, excluding an overallotment for underwriters. Proceeds from this will be used mainly to repay more than $600 million under a credit line that matures in 2017. This offering would be the largest IPO by a retail real estate investment trust (REIT) since Simon Property Group raised $840 million in 1993. Blackstone Group is taking Brixmor public at a time when US shopping-center occupancies are at their highest in almost four years and rents are climbing.

Including the underwriter option to purchase additional shares, the offering may be up to $905.6 million, topping Simon as largest retail REIT IPO.

Brixmor is the 2nd largest shopping center landlord (as calculated by number of properties), just behind Kimco Realty of New York. It owns 522 retail centers, most of which are located in the Eastern US and Midwest. It is selling 12.7% of the company in the IPO, implying a market value of about $5.9 billion, based on the midpoint of the price range.

Posted on October 23, 2013

Featured Article
FAO Schwarz Considers Leaving Fifth
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Legendary toy shop FAO Schwarz may leave its longtime Fifth Avenue home at the base of the General Motors Building. Its parent company Toys “R” Us hired CBRE to market about 60,000 square feet at the base of the GM Building for sublease. The store has been a tourist magnet since the retailer moved in from across the street in 1986.

FAO Schwarz no longer needs so much space and may be looking to take advantage of the area’s rising retail rents, which have risen almost 22 percent from a year ago. “Yes, it’s beautiful, it’s a landmark,” said Faith Hope Consolo, chairman of the retail group at Douglas Elliman Real Estate, “but Toys ‘R’ Us already has that big presence in Times Square, and they can have a smaller venue. Now that the building has been through three ownerships and changed the dynamic, it’s time for them to move on. They don’t need to be there.

Posted on October 22, 2013

Featured Article
REPOST: Crowdfunding and Real Estate…This Could Be the Start of Something Big!
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[Originally seen in RETechBits]

I received the following email a few days ago and I have to say, hats off to my friend Ben Zises from RetailMLS. RetailMLS is one of my favorite new real estate startups and Ben isn’t wasting any time to get out in front of the changes in fundraising laws. Ben has made the smart move to use crowdfunding as a way to give small investors a piece of his fast growing site when normally, opportunities like this are not available to the masses.

Changes in fundraising laws have resulted in many industries being transformed overnight. Big sites such as Indigogo and Kickstarter are the big names of which most people are aware. But in the real estate industry, we are starting to see more and more crowdfunding sites appear such as AngelList, Fundrise and Groundbreaker. As this trend accelerates, I think it’s only a matter of time until other startups follow what Ben atRetailMLS is doing.

Posted on October 21, 2013

Featured Article
Press Release: RKF Helps Bring Westside Market to East Village
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– Family Grocer Leases 18,817-SF Store at New Residential Development –

New York, NY October 17, 2013 – Working on behalf of the landlord, RKF has arranged an 18,817-square-foot lease with family-owned grocer Westside Market at 84 Third Avenue in Manhattan’s East Village. When it opens next summer, this will become Westside Market’s fifth location in Manhattan.

Located at East 12th Street, 84 Third Avenue is a new nine-story residential development featuring approximately 86 rental units and 90,000 total square feet.

RKF Executive Vice President Ariel Schuster, along with Senior Director Zach Winkler and Associate Taryn Talmadge, represented the owner of 84 Third Avenue, YYY Third Avenue LLC. The Westside Market was represented by Stu Morden of Newmark Grubb Knight Frank Retail. The new Westside Market will feature 10,500 square feet on the ground level, with the remaining space in the lower level.

Posted on October 18, 2013

Featured Article
South Street Seaport Mall to Receive Makeover
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This morning The Howard Hughes Corporation broke ground on a new 300,000-square-foot retail mall at Pier 17 in Lower Manhattan. Mayor Michael Bloomberg took part in the ceremonial groundbreaking and said, “The best days are still to come for the Seaport.”

The large existing retail building on site has floundered for decades, and will be replaced by a large glass, multilevel shopping center that the company hopes to fill with upscale stores, restaurants, and event space. Last March, the development company won approval from the City Council to redevelop the pier after granting retailers there lease extensions that would allow them to operate through the summer of 2013 and recoup losses incurred during the property’s closure in the aftermath of Superstorm Sandy last year.
“You’re going to have an offering of entertainment, culture, food offerings, and retail,” said David Weinreb, CEO of The Howard Hughes Corporation. “The redeveloped South Street Seaport will include 40 percent more open space to the public and be highlighted by an acre and a half rooftop.” Architect Greg Pascarelli said that historic materials like cobblestone and wood will be used “in a very contemporary and forward-looking way.”

Posted on October 17, 2013

Featured Article
RetailMLS Offers Investment Opportunity
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RetailMLS is offering the unique opportunity to become a company shareholder! Fundraising laws have recently changed, allowing private companies the ability to raise capital form the general public – so long as each individual is an accredited investor. For the first time, RetailMLS is now offering retail real estate professionals the opportunity to participate in our industry leading revolution. Check out theRetailMLS profile page onSeedInvest to review offering and due diligence materials, e-sign documents and invest directly through their platform!

Posted on October 16, 2013

Featured Article
Government Shutdown Deeply Effects Retailers & Consumer Spending
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The government shutdown may have a long-lasting impact on consumer behavior; Americans being made aware of the severe state of the government’s debt forces shoppers to take a good look at their own personal finances. “Consumers have been locked in a prolonged game of economic dodge ball, with one challenge after another coming right at them. The government shutdown and debt ceiling crisis are just more hurdles, and the growing uncertainty really has consumers worried about hunkering down,” explained Susan Viamari, editor of the IRI Times & Trends, which recently conducted a survey about consumer behavior.

Since the government shutdown, retailers have reported modest sales. Several retailers found that consumers are pulling back spending. This has sparked concerns for retailers about how shoppers will spend their money during the holiday season, which is the largest shopping selling period for retailers. In addition to economic concerns dampening sales, the warmer-than-usual weather hurt sales of fall sweaters and other fall clothing.

Posted on October 16, 2013

Featured Article
Thor Acquires More Retail on Eighth Avenue
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Thor Equities has made another grab at space on Eighth Avenue. This time, the real estate development company paid more than $12 million for 7,000 square feet of retail condo space at 725 Eighth Avenue, according to the broker who handled the transaction.

The two-story property at West 45th Street includes a 1,600-square-foot basement, 1,800 square feet on the ground floor, and 1,800 square feet on the second floor. Additionally, two mezzanines push the total size to nearly 7,000 square feet of usable space. The seller, 725 Eighth Avenue Realty, owned the building for over a decade before putting the building on the market for $13 million, and formerly operated a pawn shop on the ground floor.

Posted on October 15, 2013

Featured Article
Guest Blogger Faith Hope Consolo: The Faithful Shopper: Happy Halloween
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[Originally seen in The Huffington Post]
It’s that time of year again, when ghouls and goblins, witches and wizards and more than one superhero walk our streets – fill in your own joke. Yes, it’s Halloween, time to party in costume. Once again, my updated list of where to find that outfit that expresses the inner you – and wear it to the 40th anniversary Village Halloween Parade!

Abracadabra – 19 West 21st street
Super, indeed – this store stocks more than 2,000 masks and 12,000 costumes of all kinds. They’ll even do your makeup, too, to complete the look.

New York Costumes/Halloween Adventure – 104 Fourth Avenue
So big it has two entrances (the other is at 808 Broadway), this emporium for all holidays has two levels of clothing, masks, hats and accessories that will make you ghoulishly gorgeous!

Posted on October 15, 2013

Featured Article
Pawnshop Presence in NYC Growing
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Several new luxury pawnshops are opening in New York City. NYC has always had pawnbrokers and pawnshops, and now a number of new entrants are leasing luxury space throughout the city. This past summer, Manhattan’s premier pawnshop opened after 75 years of operating a sister location in Beverly Hills called the Beverly Loan Company. The New York Loan Company caters to those who require a confidential short-term cash infusion from $500 to over $1 million.

New York Loan also buys and sells jewelry and watches from its office on the 34th floor of the brand new International Gem Tower on West 47th Street between Fifth and Sixth Avenues.

Another pawnshop that entered NYC is an upscale pawnshop called Borro.com, based out of London. This shop trades cash for jewelry, antique cars, yachts and fine wine.

Posted on October 15, 2013

Featured Article
Outlet Malls Continue Growing
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Executives who recently attended Value Retail News’s Fall Outlet Leasing and Marketing Convention in East Rutherford, New Jersey were reminded that while many retail sectors have contended with modest growth since the recession, there is still much to celebrate within the outlet sector, which is on fire.

There are 205 outlet centers in North America, and, since 2009, sales generated from them have increased by $7.7 billion to $27.6 billion—a 28 percent increase in four years, noted Michael P. Kercheval, president and CEO of ICSC.

“No other retail sector can say that the recession of 2009 was a good thing,” Kercheval said, “but it opened the eyes of the American consumer at a time when outlets were strategically and analytically ready for expansion.”

Posted on October 11, 2013

Featured Article
Authentic Brands Group Acquires Juicy Couture’s Brand Rights for $195 Million
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Fifth & Pacific Cos. Inc. (formerly Liz Claiborne) has sold the intellectual rights of Juice Couture to Authentic Brands Group for $195 million. Fifth & Pacific had gone from about 40 brands, to three: Juicy Couture, Lucky Brand Jeans, and Kate Spade. The deal is expected to close in November. According to CEO William McComb from Fifth & Pacific, “Ultimately, this is all about bringing Kate Spade to its full potential.”

Juicy Couture is best known for its signature sweatsuits that have the word “Juicy” across the backside. The brand also sells accessories, including handbags and jewelry.

Authentic Brands Group is owned by a private equity firm called Leonard Green * Partners. It is a New York-based company that acquires intellectual property of consumer brands, including Juditch Leiber, Adrienne Vittadini, andSportcraft.

Posted on October 10, 2013

Featured Article
Target and Wal-Mart Expand with Smaller, Urban Store Formats
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Walmart and Target seek to bring their brands to areas within cities that the companies have traditionally not ventured. Wal-Mart’s “Neighborhood Market” and Target’s “City Target” are fractions of the sizes of stores that customers have seen in the past.

Target is testing its City Target format with seven stores ranging from 80,000 to 100,000 square feet in Los Angeles, Chicago, Seattle, and Portland.

Similarly, Bill Simon, Walmart’s president and CEO of its U.S. operations, said that the world’s largest retailer plans to have 500 of the smaller stores open within the next 18 months, up from the current 190. The Neighborhood Market stores average 38,000 square feet, greatly contrasting a traditional “Supercenter,” which usually lands closer to 182,000 square feet.

Posted on October 8, 2013

Featured Article
Fairway Leases Near World Trade Center
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Fairway Market has inked a deal for a two-story, 52,000-square-foot lease at 255 Greenwich Street, at the corner of Murray Street. The location is two blocks north of the World Trade Center Complex, and will have more than 11,000 square feet on the ground floor, with the balance on the concourse level.

The store plans to open next year, and will be in an office tower owned by Jack Resnick & Sons, a commercial and residential development company.

Charles Santoro, Fairway’s executive chairperson, said in a statement, “Tribeca is a great and growing family neighborhood and home to great amenities, from restaurants to schools and colleges, and a world-renowned film festival. And because it is in Lower Manhattan, which is also home to Battery Park City, the Freedom Tower, and the Financial District, the location is ideal for those who live and work there.”

Posted on October 3, 2013

Featured Article
Guest Blogger Adelaide Polsinelli: Surge in Retail Real Estate Sales Predicted with Marketplace Fairness Act
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It’s official: E-commerce’s secret advantage may soon be over, giving way to what could be a wildly busy time for the retail real estate industry.

Up until now, web-based retailers were not required to collect sales taxes on internet sales in states where they don’t have a physical presence. Billions of dollars in uncollected sales tax revenue have hurt not only individual states, but also brick-and-mortar retailers. The current sales tax system unfairly favors online retailers to the disadvantage of brick-and-mortar retailers.

Simply put, shoppers buy online in order to avoid paying the sales tax. Many retailers with a physical store report the phenomenon of “showrooming,” where consumers come into their stores to touch, see and try the merchandise and then order it online. This discriminatory practice undermines not only physical retailers but also the local municipalities where over $24 billion of sales tax was lost.

This practice negatively impacts physical retailers, jobs and the economy. The solution to level the playing field is the The Marketplace Fairness Act, which would mandate such a change. It has already passed in the U.S. Senate and is now before the House of Representatives.

Posted on October 3, 2013

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