A timely report by ULI Europe sets out the potential triggers for the required restructuring of Europe’s retail real estate sector. This report becomes even more salient following a rapidly emerging decline in economic sentiment and performance, identified as one of the stronger triggers, due to the COVID-19 (coronavirus) outbreak.
At a ULI Central Florida event, panelists discussed their strategies for turning around a underperforming retail districts in nearby St. Petersburg, largely through the curation of a more specific tenant mix.
When e-commerce first became entrenched in China, it seemed to sound the death knell for traditional retail. Sporting venues and other cultural attractions are helping bring foot traffic to the experiential retail of the future, said panelists at a ULI event in Shanghai.
Singapore-based developer CapitaLand is harvesting data to boost the revenues of its retail tenants and to help it locate future malls. Speaking at the ULI Asia Pacific Convivium, Chris Chong, managing director at CapitaLand Retail, said that the company uses data to boost both footfall and spending for tenants in its malls, which will ultimately benefit the landlord.
We are long past the point of discussing how technology has interrupted our lives and changed our perspective of the world. We are now in the post-disruption era, and in many sectors including retail, a new normal is emerging. At the same time, we are finally at a place where we can connect the dots to understand how retail is evolving—more efficient through technology and more engagement-focused through experience. The biggest idea driving the newest and most successful retail strategies is wrapped around how we value things—especially time.
A lot of thought and hard work go into making a place look like it could not have appeared anywhere else.
As vehicle use and shopping habits change rapidly, densified parking areas can free up space for new uses that benefit the community.
A CBRE analysis of U.S. consumer spending and demographic patterns suggests significant changes for food-and-beverage operators and the real estate they occupy, including a greater push for convenient, prepared foods; a growing millennial influence; and the emergence of inner-ring suburbs as the industry’s hottest market.
When events mega-company LiveNation approached Philadelphia design firm EwingCole about transforming the former Ajax Metal Company into a 3,000-person music venue and entertainment complex, it was a daunting proposition, said speakers at a recent ULI Philadelphia event which toured the site. Modeled off the iconic 1960s venue in San Francisco, Live Nation now operates six Fillmore-branded venues across the United States, with a seventh on the way in New Orleans.
Retailers are focusing their physical presences on offering excellent customer service and curation of products, said panelists at a ULI Colorado event in Denver. The event itself was held at the Dairy Block, an example of new retail projects that are animating both commercial and public spaces with experimental and experiential places for people to shop, eat, drink, be entertained, and find community.