Strategy

Major shopping center openings in 2014 beg the question, “Are we back on track?”

Last year may be the first 365-day period since the Great Recession that there is enough new shopping center space to crow about.

Chain Store Age’s annual development survey — spanning 26 years — reported pretty spotty new-build efforts from 2009 to 2013, but in 2014 some significant projects opened.

The cold hard winter may have been taxing for some but it was certainly profitable for Big 5 Sporting Goods Corp., which reported an increase in profit in the first quarter.

The participating companies provide industry-leading solutions and services that aid retailers with the challenging task of navigating real estate. Specific areas where and these providers offer help include lease management, store growth and consolidation, portfolio management, strategic analytics.

A&G Realty Partners LLC    

Melville, N.Y.    

Hoffman Estates, Ill. – Sears Holding Corp. and Santa Monica, California-based shopping mall operator The Macerich Co. are forming a 50/50 joint venture that will purchase nine Sears stores located in Macerich malls for $150 million. The venture will then lease the stores back to Sears or to other retailers.

Sears has entered two other similar leaseback joint ventures during April 2015, including deals with General Growth Properties and Simon Property Group. According to Macerich, the stores have average in-line sales of $680 per square foot.

JCPenney Co. Inc. is expanding its in-store partnership with Sephora by adding the beauty retailer to more stores.

A panel of architects, engineers and retailers discussed 2013 California Title 24, Part 6, which is widely acknowledged as the strictest energy code in the United States. And its relevance extends far beyond the Golden State.

“As California goes, so goes the nation,” said Ken Kosinski, construction director, Nike Factory Stores, North America, Nike.

The updated version of the code went into effect on July 1, 2014, and includes a big increase in the lighting-control requirement.

Whether local or global, growth has been robust for 2014’s top third-party managers

The 26th annual survey of Fastest-Growing Managers surveys new domestic and international third-party management and leasing contracts obtained during the 2014 calendar year and ranks the top performers.

New York - RDG Capital Fund Management, a shareholder of TravelCenters of America, has engaged in what it calls “constructive dialogue” with TravelCenters CEO Tom O'Brien and other board members. RDG said the TravelCenters board has indicated a willingness to consider selling some company-owned real estate as a source of liquidity.