REAL ESTATE

Summer is an interesting time in the world of retail. With lazy vacation-stilted months in June and July and the comparatively bustling back-to-school energy of August, it is a season of contradictions. While, yes, the unique challenges and opportunities of summer sales patterns and scheduling are different than any other time of the year, understanding what is likely on tap for retailers this summer requires an appreciation for certain universal factors that play a role no matter what the calendar says.  

Given the growing proliferation of digital devices, it’s no wonder uBreakiFix is feeling bullish about expansion.   The fast-growing technology repair company specializes in same-day repair service of small electronics. With some 200 locations across North America, uBreakiFix opened 24 stores during first quarter 2016. It expects to have a total of 275 stores by year end.   

It’s no secret that mixed-use developments are incorporating an increasing amount of entertainment uses and experience-centric concepts into their projects. Gone are the days of shopping-only destinations. Developers and local municipalities are focusing more and more on complex retail-led mixed-use formats to attain a focal point for social, commercial and economic growth.

Retail real estate leaders and analysts discuss the retail landscape, trends in the industry, and projects to keep an eye on.

Watch the videos here.  
 

Just 9.8% of more than 5,400 financial and accounting professionals say their companies are prepared to comply with the new Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) lease accounting standards.   That is one of the highlights of a recent Deloitte poll. http://www.slideshare.net/DeloitteUS/new-lease-accounting-standards-are-companies-prepared-to-comply-62702689  

Retailers looking for global opportunities in emerging markets should head to Asia, particularly China, according to a just-released survey.   

China ranks as the top country in A.T. Kearney’s 2016 Global Retail Development Index (GRDI), followed by India, whose high market potential, fast growth, improved regulatory environment, and ease of doing business pulled it up to second in the rankings. (See end of article for top 30 rankings.)

Meijer has expanded its store footprint in Michigan, opening a new 192,000-sq.-ft. supercenter in Sturgis.
 
The new store is the latest of nine new Meijer supercenters to open – and part of an investment of more than $400 million in new and remodeled stores – this year, which will create 3,000 new jobs across the Grand Rapids, Michigan-based retailer's six-state footprint.

J.C. Penney Co. said Wednesday it is proposing to refinance a $2.25 billion senior secured term loan, and to extend the maturity of the loan, which is currently set at May 2018. The transaction is expected to be complete in June.

Penney also reported positive same-store sales for its quarter-to-date through Memorial Day.