REAL ESTATE

Thoughts on the passing of retail legend Tom Stemberg
On Oct. 23, America lost one of its greatest retailing entrepreneurs, Tom Stemberg, who invented the office superstore industry close to 30 years ago. Tom, a Boston resident was a grocery executive early in his career. He came up with the idea of a supermarket for office products after driving around looking for a typewriter ribbon. He then founded Staples, now a $22 billion worldwide company.
Most shoppers will be hitting the (physical) shops on Black Friday
More than half of all shoppers are planning to make holiday purchases over the Thanksgiving holiday period, according to a new report.

The 2015 International Council of Shopping Centers Black Friday Shopping Study shows that 59% of shoppers plan to make a purchase at a physical store over the weekend (Thursday-Sunday).

Surprisingly, Cyber Monday is shaping up to be the second-most popular day for in-store shopping – even though it’s a day normally associated with online activity. Overall, Americans plan to shop in-store on:

Fashion Outlets of Niagara Falls welcomes new retailers

Macerich announces the recent arrival of several retailers to Fashion Outlets of Niagara Falls located in Niagara Falls, New York. New brands include Victoria’s Secret, Kipling, Columbia Sportswear, Mountain Warehouse and Calvin Klein Underwear.

Niagara Falls recent expansion brings the property size to more than 700,000 sq. ft. with a total of 200 stores and 1,100 additional parking spaces near Saks Fifth Avenue OFF 5TH – making Fashion Outlets of Niagara Falls one of the largest outlet malls in the country.
Cabela's is going where its core shoppers are

Cabela’s is looking to increase sales this holiday by opening seasonal stores in some military installations.
Dollar General makes another expansion move

Dollar General is taking another step forward in its plans to expand its square footage by 7% in 2016.
Schostak Brothers & Company hire acquisitions manager

Livonia, Mich. -- Schostak Brothers & Company announced Steve Black will join its team as acquisitions manager. Black will source, analyze and acquire investment properties for the company’s portfolio, with a focus on growing its Supercenter Walmart shadow anchor footprint.
Trend Talk: The Real Estate Industry's Migration to Livable, Walkable Communities

Photo: left: Adam Zimel; right: Micah Kagan

Getting Dense
Principal, chairman of Inland Real Estate Group honored with Lifetime Achievement Award

Ellicott City, Md. -- Investment Program Association announced it is honoring Daniel L. Goodwin, principal and chairman of Inland Real Estate Group with its Lifetime Achievement Award. The award was recently presented at the IPA Annual Conference.
Target to debut smaller store format in Manhattan

Target Corp. is bringing its smaller-sized, urban format to one of lower Manhattan’s trendiest — and wealthiest — neighborhoods.

The retailer will open an approximately 45,000-sq.-ft. store on Greenwich Street in Tribeca, near Battery Park, a fast-growing and affluent residential area, and the Financial District.

The two-level store is scheduled to open in October 2016. It is located in a 14-story, 625,000-sq.-ft. mixed-use building, whose landlord is Jack Resnick & Sons.
PREIT finishes Moorestown Mall revamp

Moorestown, N. J. -- PREIT announced the execution of more than 40,000 sq. ft. of new leases and the completion of its renovation to the dining court at Moorestown Mall located in Moorestown, New Jersey. The one million-sq.-ft. property is anchored by Lord & Taylor, Macy’s, Boscov’s and Sears. New retailers include: Yard House, Starbucks Coffee, Liberty Supply Co., Toy Genius, Eye Deals, Yankee Candle, Verizon Wireless and H&M.