Shopping Centers Today July 2014
International chains are expanding more aggressively into U.S. markets thanks to a recovering economy, and the list of retailers happens to include some unusual newcomers.— SCT July 2014
The Common Area
Security has been at center stage in the media and in the shopping center world over the past few years as a series of high-profile mall shootings forces landlords and law-enforcement agencies to reassess readiness levels in preparation for the dreaded “worst-case scenario.”
Polly Troughton, Land -Securities’ head of retail parks and leisure, knows she has her hands full as landlords strive to lure customers away from their computers by offering more of what Internet retailers cannot: food and entertainment.
Hitting the century mark is a huge accomplishment for any business, but the celebration will be much the sweeter for Books-A-Million, which has been expanding its store base in the face of stiff headwinds of competition from digital media and online booksellers.— SCT July 2014
The Bottom Line
Despite stagnant consumer confidence and newly-announced store closings, the U.S. retail sector has continued on its solid recovery and is exhibiting tightening market conditions.— SCT July 2014
If the near-record crowds at the February grand opening of the new Palm Beach Outlets are any indication, New England Development’s $250 million bet on this 500,000-square-foot retail redevelopment in West Palm Beach, Fla., is right on the money.
On the Ground
The retail real estate market in Omaha, Neb., is showing positive signs for both developers and landlords, thanks to high absorption and low vacancy.