Corporate Governance

Chain Store Age talked with Michael Puline, senior VP of leasing, Mid-Atlantic and Southeast, for DLC Management Corp., about trends, technology, and projects on the board.

[quote-from-article] If you could isolate five current trends in retail real estate, what would they be?
Here are my top five:

A strong dollar and tumbling gas prices made Costco’s fourth quarter sales results seem weak. They weren’t and now the company plans to open 12 more clubs before year end.

eBay is turning to the former chief executive of a major specialty retailer to help provide its board of directors some guidance.

Paul Pressler, who served as president and CEO of Gap Inc. from 2002-2007, has been named to eBay’s board and will serve on the Audit Committee as well as the Corporate Governance and Nominating Committee.

As the Oct. 1 fraud liability shift for EMV-compliant chip cards looms, payment card issuers appear ready for the change.

According to a new study from the electronic payments industry group Payment Security Task Force (PST), the eight financial institutions that belong to the PST reported that 30% of their U.S. consumer credit and debit cards contain EMV chips as of June 30.

In its 11th year, the Top Redevelopers survey remains relevant as more shopping center companies redevelop than build anew – although the redevelop vs. develop scales are more in balance now than they were five years ago.

Gaithersburg, Md. -- Retail Properties of America, Inc. announced GreatGatherings a 16,825 sq. ft. store will join Downtown Crown located in Gaithersburg, Maryland. RPAI acquired Downtown Crown in January 2015 with a lease rate of 77.5%, the centers lease rate is now 88.7%.

In its 11th year, the Top Redevelopers survey remains relevant as more shopping center companies redevelop than build anew — although the redevelop versus develop scales are more in balance now than they were five years ago.

Location: Fort Worth, Texas

Size: 63-acre mixed-use development, 175,000 sq. ft. to 200,000 sq. ft. of retail space and riverside restaurants, 20 acres of multi-family and townhomes, 200,000 sq. ft. of office space, and a signature hotel site

Owner: Trademark Property Co. Key Tenants: Whole Foods Market, REI, Taco Diner, Zoes Kitchen, Blaze Fire’d Pizza and Sleep Train

Location: Plymouth Meeting, Pennsylvania

Size: 948,000 sq. ft.

Owner: PREIT

Key Tenants: Whole Foods Market, Dave & Buster’s, Redstone American Grill, P.F. Chang’s, Benihana, California Pizza Kitchen, Zoes Kitchen, American Eagle Outfitters, Charming Charlie, Express, Gymboree, H&M, J.Crew Factory, Orvis

Location: Kansas City, Missouri

Size: Nine city blocks, 600,000 sq. ft.

Owner: The Cordish Companies

Key Tenants: Jos. A. Bank, Zafar Salon, Spa & Boutique, Envolve Boutique, The Garment District KC, Cosentino’s Downtown Market, Yard House, Alamo Drafthouse, Howl at the Moon and more