REAL ESTATE

Phillips Edison and the shopping center of the future
A decade from now, there’s not likely to be a shopping center — a successful one, at least — without click-and-pick meals, several fitness options, and healthy food and beverage purveyors. That was the take of Phillips’ Edison’s VP of national accounts Michael Conway during a session at the RECon show. Some things all centers will soon provide, according to Conway:
Olshan reports good start for 2017
Among several developers reporting positive signs for leasing at the RECon Show in Las Vegas was Olshan Properties. Head of Retail Ken Marshall said media reports about retail’s downfall did not ring true at his company. “The first few months of 2017 generated significant leasing activity throughout our highly-diversified retail portfolio and, most notably, within our retail holdings that are housed in mixed-use environments,” he said, noting that the trend began last year.

VIP lounges coming to brick-and-mortar retail?

Great personal experiences are what separate brick-and-mortar retail from its virtual cousin on the Web, and high-end experiences will soon be coming to luxury stores. That’s one of 10 key elements to increase foot traffic introduced at RECon this week by Vicki Eickelberger, managing director of Big Red Rooster, a store design unit of JLL.
One Daytona speeds to finish

The 300,000-sq.-ft. mixed-use center being erected by International Speedway Corporation across from Daytona Speedway is filling up fast. Three new tenants have signed on to One Daytona. Sister brands Clair de Lune, a home fragrance store, and Kasa Living, a home décor shop are Canadian brands making their first appearance in the region. Joining the development’s food and beverage roster is Built Custom Burgers, a build-your-own burger concept offering up a long list of toppings at no additional charge.
PREIT puts two malls on the market

PREIT’s mall-pruning program picked up during the retail real estate industry’s big RECon show. As the show floor opened in Las Vegas, the Philadelphia-based company announced it had put up for sale Logan Valley Mall in Altoona, Pennsylvania, and Valley View Mall in LaCrosse, Wisconsin. PREIT reported it had received unsolicited interest in these properties and was willing to dispose of them to increase its cash position.
CBRE airs retail innovation videos

CBRE’s Melina Cordero, an expert in consumer behavior, has produced a series of videos to instruct brick-and-mortar retailers in how to get more results at the point-of-sale. The first three of these can be viewed on CBRE’s new retail innovation website.
Motor-themed restaurant/retail concept revs up for U.S. debut

Start your engines: Ace Café, a motorcycle and car-themed chain, has parked itself in downtown Orlando. The 35,000-sq-ft. entertainment, dining and retail destination is the first North American location of the London-based brand and the sixth Ace Cafe in the world. Ace Cafe Orlando spans two floors and features a full-service restaurant, four bars, a coffee bar, a stage, a mezzanine that overlooks the main floor dining area and stage, and private and semi-private spaces for groups.
Walmart making big investment in Florida

Walmart is expanding—and updating—its footprint in the Sunshine State. The retailer will open nine new stores across Florida in its current fiscal year, creating more than 800 jobs, and also execute a multi-million-dollar capital investment plan by remodeling more than 40 locations across the state. Walmart currently operates 375 stores in Florida.
Specialty beauty retailer thriving in bricks-and-mortar

Someone forgot to tell Bluemercury about the slowdown in physical retail. The beauty retailer, which was purchased by Macy’s in 2015, plans to open some 40 stores in 2017, according to a report by the Chicago Tribune, including six in Chicago. Currently, it has nearly 200 locations nationwide.
New name for Oklahoma City outlet center

Oklahoma City Mayor Mick Cornett won’t have occasion to announce a championship for the OKC Thunder this year, but he did stop by the RECon show in Las Vegas to crown the OKC Outlets. The former Outlet Shoppes at Oklahoma City was sold by CBL to The Outlet Resource Group and Singerman Real Estate earlier this month. The new owners wasted no time putting its own brand on the center. “OKC” is the abbreviation commonly used by NBA fans to identify the Thunder.