Shopping Centers Today October 2015
Some retail property owners are modernizing concierge desks and expanding their services — theater tickets, anyone?— SCT October 2015
The Common Area
More retailers than ever are using their stores as hubs for online merchandise distribution. “All Macy’s stores today can fulfill merchandise orders direct to consumers’ homes, serve as convenient locations for customer pick up of merchandise bought online and are the origination point for same-day delivery in 17 local markets,” tMacy’s CEO Terry J. Lundgren said.
ICSC has chosen Thomas (Tom) McGee, former vice chairman at Deloitte LLP, the world’s largest professional services organization, to be its new president and CEO.
Having already built quite a loyal following by means of an e-commerce platform, activewear and accessories retailer Fabletics is poised to make a brick-and-mortar impression by adding four more stores, all of which are to open this fall, to the two it opened just last month.— SCT October 2015
The Bottom Line
Accelerating sales activity is driving down yields in the U.S. shopping center investment market, according to Marcus & Millichap’s midyear retail outlook report.— SCT October 2015