Phillips Edison, one of the nation’s largest owners and operators of grocery-anchored shopping centers, has formed a new $4 billion REIT focused on this still-growing sector of physical retail.
Malls are not going away entirely, but the word “mall” may be an endangered concept.
CBL Properties, one of the nation’s biggest mall operators, with 121 of them in 27 states, has announced a rebranding campaign that that reflects a new strategic direction focused on operating community gathering places, not mere shopping centers.
Sprouts Farmers Market is in expansion mode.
Sprouts Farmers Market announced it will open nine new locations in the first quarter of 2018. In total, the natural and organics grocer will open approximately 30 new stores across the country in 2018.
Commercial real estate developers and investors surveyed this summer by the DLA Piper law firm concurred that reports of the demise of brick-and-mortar are greatly exaggerated.
Only 8% of the 222 respondents to the survey, most of them C-level executives, agreed with the statement that brick-and-mortar is “doomed.” That said, just 3% were of the opinion that traditional retail was here to say.
