Retail/Entertainment
For years, observers have predicted the death of the enclosed regional mall. How ironic, then, that today the regional mall is not just surviving but thriving compared with its shopping center competitors. Read how large mall owners have been actively investing in their properties in recent years, adding new attractions and luring new major tenants, in an effort to stay relevant in the 21st century.
When it comes to the best and worst markets for office and retail development in Europe, large, stable markets like Germany and Poland are places where new assets can be developed; in countries like Italy, Spain, and Portugal, however, where there are concerns about sovereign debt, it is much more difficult. Read more to learn what types of development will succeed and what investors now expect.
New York’s Metropolitan Transportation Authority is pushing sustainability to new heights by seeking to turn historic Metro-North train stations outside the Big Apple into retail and dining hot spots. Learn how transit-oriented development at these transit stops is poised to benefit the real estate community, the transit agency, commuters, the communities themselves, and even the environment.
Arlington Heights Sports Park, a new 35-acre (14-ha) public venue for sports and a community amenity in Riverside, California, shows how innovative approaches to project delivery can yield positive results. Read about the advantages a design/build process brought to the project, and the special considerations that must be addressed when designing a field to accommodate several sports.
If you have $19.9 million lying around, you can now purchase Bill Murray’s mansion, which was featured in Zombieland, a 2009 spoof of the horror genre. But, if this famous residence is up for sale, one wonders about other homes featured in classic films—their real locations, their physical attributes, their history—and how they’ve been ingrained in the American cultural psyche. Read more.
On September 8, the National Building Museum in Washington, D.C., hosted a panel discussion on how big-box development is affecting that city’s planning, land use, transportation, and economy as part of its DC Builds lecture series. Read how the opening of four new Wal-Mart stores—estimated to bring in a combined $200 million a year in sales—is poised to affect D.C.’s retail leakage problem.
Dramatic urban design strategies, such as iconic cultural buildings, are beyond the reach of most cities. Successful urban revitalization depends on far more than a single, shining idea. What works in communities large and small are cultural and entertainment districts. Read how cities like Los Angeles, New York City, and Philadelphia are applying that lesson.
As cities both large and small transition from manufacturing-based to service-oriented economies, municipal officials are forced to decide whether a site will be prepped for resale to another industrial user or if it should be remediated for residential development and commercial business. Read more to learn what a ULI panel told the city of Indianapolis to do with a well-sited vacant GM property.
Experts see the near-term prospects for retail development and financing as healthier than expected. Larger national tenants are looking to expand into more markets and infill locations, while urban community-oriented retailers are studying smaller formats that are able to adapt rapidly. Read about these responses to shifting needs, as well as others in the areas of green incentives and urban development.
A considerable amount of private equity capital is looking for investment opportunities in commercial real estate—and this is expected to increase investment activity in 2011, according to Bob White, founder and president of Real Capital Analytics. Learn what else he told attendees during the opening presentation at ULI’s “Real Estate Finance and Investment 2011” conference in New York City.