The focus for mall owners and retailers should be on extending their brand “beyond the four walls of brick and mortar,” said panelists speaking at the ULI Spring Meeting.Read More
Today’s young professionals with discretionary income are asking for deeper engagement with their surroundings, a greater sense of ownership, and fewer barriers between work and play, connecting on a personal and emotional level with their environment. Panelists speaking at ULI’s 2018 Carolinas Meeting in February discussed what that might mean for the marketing and design of retail, office, and residential projects.
The growing popularity of online grocery shopping could result in demand for up to 35 million square feet (3.25 million sq m) of U.S. cold-storage space shifting from retail stores to warehouses and distribution centers within the next seven years, according to a report from CBRE.
E-commerce has finally arrived in Singapore in a big way. Amazon has appeared on the island’s shores, joining local etailers like Zalora and RedMart, and with meal delivery apps such as Deliveroo, FoodPanda, and UberEats, restaurant-grade food can come straight to your door. Nonetheless, the pipeline for brick-and-mortar retail remains strong, with a total of 509,000 square meters (5.5 million sq ft) of retail space of projects in the pipeline.
James Rouse’s visionary development is 50 years old. The process of urbanizing its town center may create a model for other suburban developments.
Speaking at a ULI Minnesota event, Kevin Cavenaugh, owner of Portland-based Guerrilla Development, said bigger is not necessarily better, and oftentimes it is worse, in terms of the complexity and risk.
Since 2004, over $1 billion has been invested in redevelopment and new construction in downtown Cincinnati and the adjacent Over-the-Rhine neighborhood. Representatives from Erie, Pennsylvania; St. Louis; and Atlanta have visited the city in the last year to see how a combination of nonprofit redevelopment, historic preservation, land banking, and strategic acquisitions, funded by tax credits and corporate investments, have turned things around.
The highly coveted second corporate headquarters of e-commerce giant Amazon.com would be a welcome addition to Austin, but the $5 billion project undoubtedly would produce more housing and transportation woes in one of the fastest-growing regions of the United States, said panelists at a ULI Austin event.
With e-commerce’s stake in U.S. retail at less than 10 percent, suggestions of a “retail apocalypse” of brick-and-mortar stores is greatly exaggerated, panelists said during a ULI North Texas event on the retail sector. Still, panelists at an event in Dallas said the industry has to find new ways to reinvent itself and connect with customers in order to thrive.
Soaring rents have seen London’s New Bond Street rise to become the world’s third most expensive retail street, according to a report by Cushman & Wakefield. The annual Main Streets Across The World report, now in its 29th edition, tracks 451 of the top retail streets around the globe and ranks the most expensive in 68 countries by prime rental value using proprietary data.