REAL ESTATE

Fitch: ‘Location, Location, Location’ still applies, possibly now more than ever
The growth of e-commerce and the increasing emphasis on delivery speed as well as pick-up services for retail goods will likely precipitate a convergence of industrial distribution and retail real estate.
Retailers in control at RECon
For retail professionals, the International Council of Shopping Centers’ Spring RECon Convention in Las Vegas is the highlight of the year. There’s always so much to take in, and every year comes with its singular storylines. Here were some of the more dramatic ones at play convention floor: Food-focused foot traffic

It’s a tenants’ market at retail centers

Despite the rash of recent store closings, leasing activity is strong at malls and shopping centers as retailers take advantage of favorable terms. That’s the take of Mizuho Securities analysts following conversations with major broker organizations at the International Council of Shopping Centers RECon Show in Las Vegas last week.
Ikea in Southeastern expansion

Ikea is looking to open its second location in Tennessee. The home furnishings chain plans to submit plans to the Metropolitan Government of Nashville and Davidson County, Tennessee, for a store in the Nashville area. Construction of the 341,000-sq.-ft. proposed Ikea could begin in spring with an opening in summer 2020.
RECon Report: New times, not end of times, for physical retail

As the International Council of Shopping Centers shut the doors on its RECon show in Las Vegas this week, Chain Store Age asked top brokers and third-party managers for their take on the temperature of physical retail. Not quite sick, not quite well, but certainly out of rehab and hard at work on recovery, was the general diagnosis.
VIP lounges coming to brick-and-mortar retail?

Great personal experiences are what separate brick-and-mortar retail from its virtual cousin on the Web, and high-end experiences will soon be coming to luxury stores. That’s one of 10 key elements to increase foot traffic introduced at RECon this week by Vicki Eickelberger, managing director of Big Red Rooster, a store design unit of JLL.
One Daytona speeds to finish

The 300,000-sq.-ft. mixed-use center being erected by International Speedway Corporation across from Daytona Speedway is filling up fast. Three new tenants have signed on to One Daytona. Sister brands Clair de Lune, a home fragrance store, and Kasa Living, a home décor shop are Canadian brands making their first appearance in the region. Joining the development’s food and beverage roster is Built Custom Burgers, a build-your-own burger concept offering up a long list of toppings at no additional charge.
PREIT puts two malls on the market

PREIT’s mall-pruning program picked up during the retail real estate industry’s big RECon show. As the show floor opened in Las Vegas, the Philadelphia-based company announced it had put up for sale Logan Valley Mall in Altoona, Pennsylvania, and Valley View Mall in LaCrosse, Wisconsin. PREIT reported it had received unsolicited interest in these properties and was willing to dispose of them to increase its cash position.
CBRE airs retail innovation videos

CBRE’s Melina Cordero, an expert in consumer behavior, has produced a series of videos to instruct brick-and-mortar retailers in how to get more results at the point-of-sale. The first three of these can be viewed on CBRE’s new retail innovation website.
Motor-themed restaurant/retail concept revs up for U.S. debut

Start your engines: Ace Café, a motorcycle and car-themed chain, has parked itself in downtown Orlando. The 35,000-sq-ft. entertainment, dining and retail destination is the first North American location of the London-based brand and the sixth Ace Cafe in the world. Ace Cafe Orlando spans two floors and features a full-service restaurant, four bars, a coffee bar, a stage, a mezzanine that overlooks the main floor dining area and stage, and private and semi-private spaces for groups.