REAL ESTATE

Trend Talk
Chain Store Age talked with Michael Puline, senior VP of leasing, Mid-Atlantic and Southeast, for DLC Management Corp., about trends, technology, and projects on the board.

[quote-from-article] If you could isolate five current trends in retail real estate, what would they be?
Here are my top five:
Eight Changes That Will Impact the Retail Real Estate Industry
The retail real industry has experienced its share of changes over the years, but nothing comes close to the transformation that it is currently undergoing.

As the industry undergoes what the International Council of Shopping Centers calls one of the “most profound transformations” in its 60-year year history, the association has releases its Envision 2020 report, a collaborative initiative that outlines where the industry will be in five years according to leaders from around the globe.

CITYPLACE DORAL

Location: Doral, Florida

Size: 600,000 sq. ft.

Owner: The Related Group, Related Development LLC, Shoma Homes

Key Tenants: Fresh Market, CinéBistro-Cobb Theatre, Kings Bowling

Other uses/components: 1,000 new luxury residences

Status: Under construction, set for completion Q4 2016
PLYMOUTH MEETING MALL

Location: Plymouth Meeting, Pennsylvania

Size: 948,000 sq. ft.

Owner: PREIT

Key Tenants: Whole Foods Market, Dave & Buster’s, Redstone American Grill, P.F. Chang’s, Benihana, California Pizza Kitchen, Zoes Kitchen, American Eagle Outfitters, Charming Charlie, Express, Gymboree, H&M, J.Crew Factory, Orvis
GreatGatherings to join Downtown Crown mixed-use project in Maryland

Gaithersburg, Md. -- Retail Properties of America, Inc. announced GreatGatherings a 16,825 sq. ft. store will join Downtown Crown located in Gaithersburg, Maryland. RPAI acquired Downtown Crown in January 2015 with a lease rate of 77.5%, the centers lease rate is now 88.7%.
Microsoft set to unveil long-awaited flagship

The wait is finally over—and with it, the competition between Microsoft and Apple takes a closer turn. Microsoft will take the wraps off its Manhattan flagship, on Oct. 26. The store is located on Fifth Avenue and 53rd Street, just a few short blocks from Apple’s Fifth Avenue flagship with its glass cube entry.
The Shoppes at Webb Gin welcomes new retailers

Snellville, Ga. -- Olshan Properties announced two new retail tenants have signed leases at The Shoppes at Webb Gin in Snellville, Georgia. Orangetheory Fitness opened earlier this month and Fuzzy’s Taco Shop announced plans to open in early fall at the center.
POWER & LIGHT DISTRICT

Location: Kansas City, Missouri

Size: Nine city blocks, 600,000 sq. ft.

Owner: The Cordish Companies

Key Tenants: Jos. A. Bank, Zafar Salon, Spa & Boutique, Envolve Boutique, The Garment District KC, Cosentino’s Downtown Market, Yard House, Alamo Drafthouse, Howl at the Moon and more
Nordstrom Rack to relocate to expanded Serramonte Center

Nordstrom plans to relocate its Nordstrom Rack store from 280 Metro Center to the redeveloped Serramonte Center in Daly City, California.

The approximately 40,000-sq.ft. store is scheduled to open in fall 2017. The redeveloped property is owned by Equity One.

Nordstrom will join fellow anchors Target, JC Penney, Macy's and Dick's Sporting Goods. The new location is just across Highway 280 from the current Nordstrom Rack.
Englewood Construction announces three new retail projects

Englewood Construction has started working on three new ground-up retail projects.

The national general contractor is building a Hobby Lobby in Beavercreek, Ohio; a PetSmart in Taylor, Michigan; and a Goodwill in Monroe, Connecticut.

Englewood recently broke ground on a 55,000-sq.-ft. ground-up Hobby Lobby store in Beavercreek, Ohio. Slated for completion by the end of January 2016, the project will use tilt-up construction of masonry embossed panels. Tulsa, Oklahoma-based Robert Michael Hughes is the project architect.