Development/Redevelopment

Whether purchasing individual assets or restructuring entire portfolios, top acquirers have plans and stick to them.

Stick to your knitting. That appears to be the mantra for this year’s top acquirers, all of which, save one, have appeared on this list in previous years. Most relate that, in the late stages of a recovery, discipline, tenacity and structure are key to closing deals. This year, staffers at two of these tenacious companies can chant, “We’re No. 1!”

Trending Stores: The Frye Company’s location in Denver took top honors as Store of the Year in the 2017 Shop! store design competition. With a design that celebrates the artisan heritage of Frye, one of the country’s oldest footwear companies, the 2,460-sq.-ft. store has a warm and comfortable vibe, with a modern ski-lodge aesthetic. Local references include a massive working fireplace dressed with stone from local quarries, and rugs woven with American Indian motifs.

Broker Faith Hope Consolo, who’s placed countless retail businesses in some of Manhattan’s best neighborhoods, has lately turned her attention to Harlem. She’s happy to note that restaurants and national retail brands are blossoming uptown, but that – outside of a Whole Foods opening on 125th Street – full-size supermarkets are nonexistent since the Pathmark closed there last year. And it’s not just a Harlem phenomenon.

Deborah Butler’s vision to remake her family’s Gainesville, Florida, retail complex into a unique, local phenomenon got a little clearer this week.   Butler has put noted local chef and restaurateur Bert Gill in charge of curating the dining establishments at the Stengel Field Food Hall at Butler Town Center, scheduled to open in 2018. It takes its name from the aviation school run on the site in the 1940s and ‘50s by pioneering pilot Carl Stengel.  

Opportunistic acquirers continue retail’s reinvention, making business good for creative management companies

Unusual circumstances are forging the best of times for third-party shopping center managers. Rampant store closings, after-effects of the commercial mortgage backed securities crash, and opportunistic buyers are creating opportunities for innovative managers to reinvent properties for their clients.

If you live in a big city, you gauge your age by the changing real estate. As a kid and then as a teenager, I saw Shea Stadium and Giant Stadium being built. Both are now memories. Driving a New York City cab in the early ’80s, I rarely got a fare to Williamsburg and, when I did, I quickly turned around and headed back to Manhattan over the Williamsburg Bridge.

Every business magazine sports an “X Under 40” list celebrating precocious professionals. But, really, isn’t it almost always youthful drive and optimism that feeds the engine of progress?

The stories of Chain Store Age’s 2017 list of over-achievers under 40 abound with examples of young people from different disciplines who all discovered retail real estate as the perfect channel for their passions.

Cumberland Farms, a convenience store fixture in New England and central Florida for half a century, once fielded more than 1,000 stores. But, it has slimmed down to 600 locations as it transforms itself from a strip-center and gas station dairy store to a chain of freestanding, modern C-stores providing an array of food service options and gasoline.