REAL ESTATE

Optimism abounds at New York Show
Retail real estate developers and management companies are coming away from this week’s New York Deal Making show more optimistic than they’ve been in years. “There’s some uncertainty following the election, but the stock market is up, the holiday’s been strong, and consumer confidence is high,” said CBL CEO Stephen Lebovitz at the International Council of Shopping Centers show, whose aisles were crammed with some 10,000 attendees.
Starbucks to nearly double store count by 2021; two new formats in works
Starbucks Corp. unveiled an ambitious five-year strategy that calls for major expansion, includes two new store formats, including freestanding bakeries. The coffee giant said it plans to plans to open approximately 12,000 new stores globally by 2021, including 5,000 cafes in China. The new round of expansion would bring Starbucks’s total store portfolio to approximately 37,000 locations.

Will West Coast Retailer Migration Continue as Northeast Rents Rise?

When the nation’s retail industry recently congregated in New York City for ICSC’s National Deal Making conference, much of the discussion centered on the evolving mindset of consumers throughout the country. For retail real estate professionals in the Northeast, this conversation is vital.
Trademark taps digital ace Keeton as marketing chief

Fort Worth-based Trademark Property Co. is making a move to more data-driven marketing efforts with the hiring of Jency Keeton as director of corporate marketing. As digital brand manager for global marketing at Fossil, Keeton doubled the retailer’s social media audience and directed its website, email, blogging, and influencer programs. Her digital promotions, contests, and user-generated content programs were deployed in stores and all other customer touch-points.
Olshan to Trump competition at ICSC-New York

Olshan Properties will pay tribute to the new president-elect and fellow developer Donald Trump at the International Council of Shopping Centers New York Deal Making show, which kicks off at the Javits Center on Monday. Staffers at the Olshan booth will be sporting blue “Make Retail Great Again” baseball caps as they promote a message, said a release, of elevating retail to bring local communities together by connecting with their hometown shopping centers.
CBRE announces two key hires

Adam Cummings, an 18-year veteran of retail leasing, has been named senior VP and retail occupier practice leader at CBRE. Cummings will direct retail representation in the mall sector. The company also announced the return of Matt Kircher as managing director and executive VP of its San Francisco office. Kircher began his real estate caeer at CBRE in the 1990s.
New York Retailer Market Update: Too Hot, or Not?

The ICSC New York Conference is one of the larger gatherings of retail real estate professional’s on the calendar – and is an important touch point for professionals in the NYC market. Ahead of the show, Bob Gibson, retail vice chairman of JLL, based in New York, shared his take on this expansive and important retail market.
Home furnishings giant continues U.S. expansion

Ikea is hoping to build its fifth store in the state of Texas. The retailer is submitting plans to the City of Live Oak, Texas, for a San Antonio-area store. Pending approvals, construction could begin in spring 2018, with an opening in summer 2019. Located approximately 15 miles northeast of downtown San Antonio, the 289,000-sq.-ft. proposed Ikea would be built on 31 acres.
Natural pet food retailer on expansion track

Bentley’s Pet Stuff is on the move. The family-owned retailer, which specializes in the fast-growing segment of natural pet food, will open nine stores in December, with locations in Milwaukee, Colorado, Minneapolis and Chicago. The new locations include Bayview, Racine, Menomonee Falls, New Berlin, Delafield and Fox Point (all in the Milwaukee area); Stillwater in the Minneapolis area; Greenwood, Colorado; and one in Chicago.
The rise of fresh-casual

Restaurant retail is in the midst of a revolution. According to the Urban Land Institute, one of the key factors driving traffic at retail is the rise of new food concepts, which account for nearly 50% of shopping center growth nationally. The first volleys of this revolution were fired by a spate of new fast-casual concepts, but as the movement gains momentum, it is evolving from fast-casual to fresh-casual.