Empire State Realty Trust’s Post

The October issue of Shopping Center Business has arrived — see what challenges are impacting the Atlanta retail market ⤵ Fundamentally Strong, But ‘Challenging’ Atlanta’s retail market is defined by high rents, strong demand and obstacles to both sales and development that have stymied activity.  By John Nelson; insights from — Steve Triolet, Partners; Leo Wiener, Ackerman & Co.; Henry Poer & Scott Tiernan, CCIM, SRS Real Estate Partners; Michael Phillips, Jamestown; Greg Eisenman & Len Erickson, Franklin Street; Jesse Shannon, Branch Properties LLC; Don McMinn, Marcus & Millichap.  Inside This Issue: Von Maur’s Remarkable Makeover Von Maur embarks on a $100 million renovation plan to redefine its department stores for a new generation — and reinvest in the 152-year-old company’s signature customer service.  By Katie Lee; insights from Melody Wright, Von Muar. Placemaking: The Secret to Success Texas’ latest developments feature a common thread: a sense of place.  By Burdette Huffman, The Blue Ox Group Read the issue: https://lnkd.in/e8Eq5ZXD #Retail #Atlanta #COmmercialRealEstate #CRE

In Detroit, retailers continue to display a preference for multi-tenant and mixed-use spaces as redevelopments like the former Northland Shopping Center in Southfield attract big leases, even years before opening. What do you think are the driving factors for this? #cre #commercialrealestate #realestate #retailrealestate

Did you know that nearly $10 billion worth of standalone storefronts have changed hands in NYC over the past five and a half years? Surprisingly, most of these high-volume trades aren't happening in the usual Manhattan hotspots but in outer boroughs like Brooklyn and Queens. Curious about the details? Click the link to check out this insightful article from The Real Deal to see the latest trends in retail building sales: We understand the dynamics of commercial property ownership and offer top-notch maintenance services to keep your retail buildings in prime condition, no matter where they are located. Let's keep NYC's storefronts shining! Click here to read full article: https://lnkd.in/eXJi7v3U #NYCRealEstate #BuildingMaintenance #RetailSpaces #CommercialProperty

What’s the most important thing right now in retail real estate? Getting stores open faster to get the registers ringing. I shared DLC Management Corp.’s POV and focus on this in @ChainStoreAge. Stores that have signed leases and have not opened, remain mired in lengthy renovations, or are not updating to keep pace with customer expectation, are not meeting the goals of the landlord, the tenant, or the consumer. Our cross-functional team of retail real estate experts – from leasing reps DLC Management Corp. the architects at NWS Architects. Inc | Chadha + Associates and the GC team at Renovo Construction - are poised to deliver the open store that everyone wants when everyone wants it. Read the full article here: https://bit.ly/3VnHmo8 Here’s to a holiday season of ringing registers and thriving communities! #CRE #RetailRealEstate #OpenForBusiness #BrickAndMortar

getting closer

Why I chose retail: It’s all about resilience and evolution! These properties not only adapt but thrive through decades, much like the retail industry itself. It’s a reminder of why I am so passionate about what I do.

Fitzroys ‘Walk the Strip’ 2024 report shows Melbourne’s shopping strips are thriving at present, an outcome resulting from both a shift in retail consumer behaviours (increased desire to shop locally) and an accompanying mindset adjustment from strategic landlords. This is strongly evidenced in the current market state of Smith Street, Fitzroy with both local and national businesses targeting the high foot traffic location, resulting in a notable low vacancy rate of just 3.2%.    In the last month alone, Fitzroys successfully secured three retail tenants on behalf of three private landlords on both Smith Street and Johnston Street in Fitzroy. Strong enquiry numbers across all three locations exhibit a continuous uplift in business confidence within city-fringe locations. Please click on the link below for further information https://lnkd.in/gZDsxcuy

Cushman & Wakefield Retail Investment Advisors present Overlook at Hamilton Place (the Property), a dominant 213,095 SF open-air shopping center in fast-growing community of Chattanooga, Tennessee. Anchored by national tenants Hobby Lobby (65,245 SF), Best Buy (47,190 SF), The Fresh Market (20,400 SF) and Petco (12,771 SF), national tenants account for 96% of the GLA and 94% of the total revenue. The property is located in the highly trafficked retail corridor of Gunbarrel Road, with multiple access points, two lighted intersections book-ending the center, and over 34,000 vehicles passing the property daily. Significant barriers-to-entry in the submarket are represented by considerable mark-to-market rent growth on small-shop tenancy if/when Landlord can recapture space.  Mark Gilbert Michael Marks #realestateinvestment #investmentsales #retail #retailrealestate #captialmarkets #CRE #mixeduse https://lnkd.in/ej6VxVY2

For years, retailers have flocked to set up shop in “it” neighborhoods in New York City. Before the #pandemic, as well as during the first couple years of its recovery, #Soho and #Nolita reigned supreme, with Valentino, Wilson Sporting Goods Co. and Vuori all opening stores there. #Williamsburg has also been buzzy among #DTC businesses, thanks to its chic cafes, thrift stores and waterfront views. Now, tides are shifting, and brands of all types and sizes — not just high-end ones — are making the move to #Midtown. Much of this is due to a major revamping of Rockefeller Center, which encompasses six square blocks. All in all, it’s a promising sign for the continued post-pandemic recovery of New York City, one of retail’s biggest markets and a major business capital. Read more: https://buff.ly/4aBhrPp

With a little over 4 months remaining in 2024 South Florida is still on target to deliver 14,000 apartments by years end. 😳 But will this streak continue? Read more in our latest Florida Retail Recap with welcoming commentary by Mark Gilbert. https://rb.gy/svuq54 #cre #retail #retailnews #cushwake #betterneversettles #retailinvestmentadvisors