REAL ESTATE

REAL ESTATE’S 10 UNDER 40
Every business magazine sports an “X Under 40” list celebrating precocious professionals. But, really, isn’t it almost always youthful drive and optimism that feeds the engine of progress?
The stories of Chain Store Age’s 2017 list of over-achievers under 40 abound with examples of young people from different disciplines who all discovered retail real estate as the perfect channel for their passions.
TREND-WATCHING
Industry insiders are the best trend-watchers. Here’s what the experts are seeing.

“There is more selectivity in the site selection process. There is a trend toward downsizing, and more non-retail tenants are taking interest. There is also a growing divide between A-plus real estate and everything else in the market. Everyone wants the best properties.” — Mark Dufton, CEO of DJM Real Estate, a Gordon Brothers Group company

“Retailers are thinking about a smaller footprint, but in most cases not significantly smaller.

Survival of the Fittest: How Niche Retailers Dominate

Despite claims that e-commerce will overtake traditional retail space, physical store locations are still attractive to retailers. In fact, they plan to open over 76,000 stores in the next 24 months, according to RBC Capital Markets data. And while several major retail closings have been announced this year, other retailers are stepping up expansion plans for new stores and concepts.

Growing retailers are all about the niche lifestyle — fast fashion, food, fitness and pharmacy — and focus on what consumers care about most, including value, quality, health and the environment.
DECISION POINT

Data drives efficient retail real estate decision-making

Making the right decisions with the right data is obviously something retailers strive to do in all areas of their business. However, when it comes to real estate, “getting it right” is even more critical.
Foot Locker to reboot New York flagship

New York – Foot Locker Inc. is rebooting its New York flagship store. The sporting goods chain has signed a new retail lease with landlord Empire State Realty Trust Inc. (ESRT) to retain its flagship location on West 34th Street.
New stores coming to Fremaux Town Center

Covington, La. - Stirling Properties and CBL & Associates Properties, Inc. are announcing 12 new tenants coming to Fremaux Town Center in Slidell, Louisiana. Anchored by a 128,000-sq.-ft. Dillard's, the second phase of this development will include approximately 285,000-sq.-ft. of additional retail space, including previously announced tenants Red Robin, Zales, Francesca’s and Aveda.

Construction is moving along as scheduled with a planned opening of Phase II in October 2015.
Roche Bros. opens Boston flagship

Wellesley, Mass. - Regional grocery chain has opened its flagship Downtown Crossing Boston supermarket in the newly restored Burnham Building. Roche Bros. is the first large-scale grocery store to be built in Boston's Downtown Crossing.
R.J. Brunelli named tenant rep for N.J. Dunkin’ Donuts franchisee

Old Bridge, N.J. - R.J. Brunelli & Co. LLC has been appointed exclusive tenant representative in Monmouth, Ocean and Middlesex counties in New Jersey by a major, multi-unit Dunkin’ Donuts franchisee for that area. The franchisee plans to open five locations per year in the three-county region.
Exclusive: FiveSouth Rising

By Steve Backman and Jeff Übl

In Bismarck, North Dakota, where a regional boom associated with the nearby Bakken Formation has made the state second only to Texas in terms of U.S. oil production, commercial development is on the rise. The missing piece of the puzzle for the city, however, has been the conspicuous absence of a defining downtown mixed-use destination: the kind of a social, civic, financial, and experiential cornerstone that gives residents and visitors somewhere to live, work, play and stay.
DSW to open three new stores on April 30

Columbus, Ohio -- Footwear big-box retailer DSW will open stores in Michigan, California, and Washington State this month.

A 20,000-sq.-ft. store will open April 30 at Pirate’s Plaza in Flint, Michigan, representing the 10th DSW store in the Detroit market.

In Bakersfield, California, DSW will open an 18,000-sq.-ft. store at Shops at River Walk, also on April 30. The Shops at River Walk store marks the company’s first in Bakersfield.