Real Estate

Madison, Ala., city officials didn't want just any development for its last available commercial tract, a 28-acre property along a major thoroughfare. They wanted to bring in retailers currently unavailable in the area.

They approached Target and Brentwood, Tenn.-based GBT Realty Corp., a developer known for its Target-anchored developments.

"Madison told us they wanted Target," explained George B. Tomlin, president and CEO of GBT Realty. "If you help us, they said, we'll participate financially in the development of the property."

As part of Von Maur's march beyond its core Heartland markets, in 2008 it opened a 130,000-sq.-ft. anchor store at the 1.1 million-sq.-ft. The Greene Town Center, located in Beavercreek, Ohio, and owned by MPI. That store has become the fashion heartbeat of a vibrant mixed-use destination that was originally built by MPI in 2006, expanded in 2008, and slated to expand again in 2014 with another 40,000 sq. ft. of retail.

The Glimcher Realty Trust pipeline is filled with open-air centers. "We're seeing a lot of opportunity in the market and even our own portfolio with open-air right now," said Michael P. Glimcher, chairman and CEO, Columbus, Ohio-based Glimcher.

Over the last three years, Glimcher has acquired five properties. Four were open-air. Today, open-air centers account for about 20% of the company's 29 properties.

Recently, Glimcher shared his insights about open-air and enclosed centers with Chain Store Age contributing writer Michael Fickes.

Thanks to the recession — and online retail — brick-and-mortar retailers are re-thinking their real estate concepts

Now, as the recession finally begins to lift, brick-and-mortar retailers are studying their real estate concepts and pondering what comes next.

Some will pare store counts, partially in response to online competition. Some will cut store square footage. Others are expanding store numbers and square footage. Some are expanding fulfillment center square footage. Some are not changing. Careful about that.

What are you doing? Is it what you should be doing?

At Retail Live!, retailers exhibit, and developers, owners, brokers and others stop by to chat

In the retail real estate landscape, there aren't as many networking options as one might think. Even fewer if you narrow it down to those events that put landlords and tenants in the same room, along with entertainment, face-to-face meet and greets, and mutually beneficial educational sessions.

Entertainment retail isn't what it used to be. Today, it really is entertaining.

Take Delray Marketplace in Delray Beach, Fla., a 258,000-sq.-ft. Main Street development filled with entertainment offerings, restaurants and retailers that give you something fun to do and something fun to buy.

"Our goal was to create an entertainment, dining and shopping experience," said Jason Samreny, VP leasing with Indianapolis-based Kite Realty Group Trust, the project's developer.

Jim von Maur

President, Von Maur

HEADQUARTERS Davenport, Iowa

TYPE OF BUSINESS Department store retailer

NUMBER OF STORES 35 in 11 states (27 Von Maur stores, eight Dry Goods stores)

Seventeen years ago, in the January 1996 issue of Chain Store Age, Jack Arth, who at the time was president of Von Maur, explained how the circa 1928 department store retailer set out to differentiate itself from competitors such as the then hugely influential Federated and May chains.

Destiny USA leads in size and environmental consciousness

Billed as the largest LEED Gold-certified retail commercial building in the world, Destiny USA is more than an environmental leader. It is a shopping and entertainment mecca.

The 2.4 million-sq.-ft. tourist destination in Syracuse, N.Y., is an unexpected blend of luxury outlet tenants with restaurants and big entertainment names in a high-impact setting that includes a sweeping, three-story atrium, a replica of an upside-down city destroyed, and a suspended-rope adventure for the kids.