REAL ESTATE

Co-tenancy 101
For landlords and tenants alike, co-tenancy provisions are among the most important pieces of the retail-leasing puzzle. The right mix of tenants can create powerful synergies. For a retail tenant, the stakes are high: the right neighbors can mean the difference between success and failure. Consequently, understanding the different types of co-tenancy clauses, becoming familiar with the nuances and negotiations that accompany their inclusion in a standard lease, and appreciating the concerns and considerations that make them so important should be a priority for any retailer.
New Stop & Shop format to debut at New York Center
Heidenberg Properties has received planning board approval to build a new 54,000-sq.-ft. Stop & Shop prototype at its Lake Plaza Shopping Center in Mahopac, New York. The store will replace a Key Food supermarket and increase total square footage at the center to 165,000 sq. ft. “This was a complicated process involving multiple municipal agencies,” said Heidenberg VP of Operations Jason Lazar.” We are excited to deliver the new prototype for Stop & Shop."

Optimism abounds at New York Show

Retail real estate developers and management companies are coming away from this week’s New York Deal Making show more optimistic than they’ve been in years. “There’s some uncertainty following the election, but the stock market is up, the holiday’s been strong, and consumer confidence is high,” said CBL CEO Stephen Lebovitz at the International Council of Shopping Centers show, whose aisles were crammed with some 10,000 attendees.
Starbucks to nearly double store count by 2021; two new formats in works

Starbucks Corp. unveiled an ambitious five-year strategy that calls for major expansion, includes two new store formats, including freestanding bakeries. The coffee giant said it plans to plans to open approximately 12,000 new stores globally by 2021, including 5,000 cafes in China. The new round of expansion would bring Starbucks’s total store portfolio to approximately 37,000 locations.
Will West Coast Retailer Migration Continue as Northeast Rents Rise?

When the nation’s retail industry recently congregated in New York City for ICSC’s National Deal Making conference, much of the discussion centered on the evolving mindset of consumers throughout the country. For retail real estate professionals in the Northeast, this conversation is vital.
Trademark taps digital ace Keeton as marketing chief

Fort Worth-based Trademark Property Co. is making a move to more data-driven marketing efforts with the hiring of Jency Keeton as director of corporate marketing. As digital brand manager for global marketing at Fossil, Keeton doubled the retailer’s social media audience and directed its website, email, blogging, and influencer programs. Her digital promotions, contests, and user-generated content programs were deployed in stores and all other customer touch-points.
Olshan to Trump competition at ICSC-New York

Olshan Properties will pay tribute to the new president-elect and fellow developer Donald Trump at the International Council of Shopping Centers New York Deal Making show, which kicks off at the Javits Center on Monday. Staffers at the Olshan booth will be sporting blue “Make Retail Great Again” baseball caps as they promote a message, said a release, of elevating retail to bring local communities together by connecting with their hometown shopping centers.
CBRE announces two key hires

Adam Cummings, an 18-year veteran of retail leasing, has been named senior VP and retail occupier practice leader at CBRE. Cummings will direct retail representation in the mall sector. The company also announced the return of Matt Kircher as managing director and executive VP of its San Francisco office. Kircher began his real estate caeer at CBRE in the 1990s.
New York Retailer Market Update: Too Hot, or Not?

The ICSC New York Conference is one of the larger gatherings of retail real estate professional’s on the calendar – and is an important touch point for professionals in the NYC market. Ahead of the show, Bob Gibson, retail vice chairman of JLL, based in New York, shared his take on this expansive and important retail market.
Home furnishings giant continues U.S. expansion

Ikea is hoping to build its fifth store in the state of Texas. The retailer is submitting plans to the City of Live Oak, Texas, for a San Antonio-area store. Pending approvals, construction could begin in spring 2018, with an opening in summer 2019. Located approximately 15 miles northeast of downtown San Antonio, the 289,000-sq.-ft. proposed Ikea would be built on 31 acres.