ICSC Research Releases Omni-Channel Report

1016reportThe media constantly struggles to decide if shopping centers are dying, seeing a resurgence or chugging along as always. For a clearer look at the situation, ICSC Research has recently released Shopping Centers: America’s First & Foremost Marketplace.

The report delves into the big issues facing malls at the moment: omni-channel shopping, demographic trends and a lot more.

The key findings are positive, fortunately. Shoppers are spending in stores, omni-channel efforts by retailers are actually helpful in some ways, and centers are getting better and better at making themselves indispensable to their communities.

Summarizing ICSC Research’s findings, the report states:

“The shopping-center industry continues to be successful, vibrant and vital to commerce now and well into the future. This continued success is a testament to the shopping center’s ability to dynamically and effectively adapt to changing technologies and consumer tastes and preferences. The physical shopping environment is at the heart of the omni-channel shopping experience.”

Good news all around—and you can check out the full report for more details.

Written by Nissa on October 15, 2014 – 6:50 pm -
Posted in Mall World | No Comments »

Vestar Looks Back at 25 Years

With a quarter of a century behind it, Vestar, the largest privately held retail developer in the western US, is looking back at its humble beginnings.

Vestar was founded in 1989 by the executive team of Richard J. Kuhle, Chairman and CEO, David J. Larcher, President, J. Paul Rhodes, Executive Vice President and the late Lee T. Hanley, past chairman. The company first established itself through successful development and management of large open-air retail destinations in Arizona and California.

Building on its philosophy of developing environmentally sensitive and culturally significant properties, Vestar has worked closely with neighborhood groups, communities and municipalities to ensure their projects integrate with and enrich their communities. This holistic approach led to expanded opportunity throughout the western United States.

In 2008, Vestar expanded its focus to include the increased acquisition and redevelopment of existing retail centers in order enhance their value and relevance to shoppers and their communities. In recent years, acquisitions have exceeded $1.5 billion, ushering in a new era of growth for the company.

“We’re proud of where we’ve been,” says David Larcher, President of Vestar. “But we’re just as excited about where we’re going. As a financially sound and well-capitalized company with a reputation for quality, the future is bright for Vestar, which makes our 25th anniversary a true celebration.”

Happy anniversary, Vestar!

Written by Nissa on October 8, 2014 – 6:26 pm -
Posted in Mall World | No Comments »

There’s Still Time to Enter Kimco’s REIToon Contest

1002reitThink you’ve got a great sense of humor? Here’s your chance to prove it to the rest of the retail real estate industry: Kimco Realty Corp is holding its second annual REIToon Cartoon Caption Contest and you have eight more days to get in on it.

If you aren’t familiar with Kimco’s REIToons, you’ve been missing out. The REIT publishes monthly comics by syndicated cartoonist Mark O’Collin on its popular blog. They wittily capture situations that’ll be familiar to anyone working in the industry.

“We launched the REIToons series two years ago in order to bring humor and camaraderie to our industry,” said Diane Agostinello, Director of Marketing and Leasing Services at Kimco Realty. “Last year was our inaugural caption contest, and people had a lot of fun reflecting on their business and drafting creative lines to complete the cartoons. Because of all the positive feedback we received, we decided to offer fans yet another opportunity to join the fun.”

If you’re a resident of the US and not working for Kimco itself, you’re free to enter your best captions for the contest’s images. You’ll have a shot at winning a $1000 American Express gift card. Winners will be announced at ICSCs New York National conference in December.

The winning captions will be published with the images in the company’s 2015 REIToons calendar, and copies of the calendar will be handed out at the 2014 REITWorld conference.

Want to give it your best shot? Visit Kimco’s Facebook page to enter.

Written by Nissa on October 1, 2014 – 4:57 pm -
Posted in Mall World | No Comments »

High Peak and NewWest Announce Merger

Earlier this week, representatives from the High Peak Group of Companies and NewWest Enterprise Property Group announced that the two companies are in the process of merging to form McCOR Management.

High Peak brings with it a national portfolio and a specialty for retail real estate development, which should complement NewWest’s extensive expertise in commercial real estate management nicely. The formation of McCOR Management creates one of Canada’s largest privately-owned real estate development and property management companies.

“We wanted to build a company that could compete at a national level while maintaining our hands-on approach,” says Luc Corneli, President and CEO, High Peak. “As we grow our portfolio in Canada, we will continue to use our collective decades of industry experience in the areas we serve.”

Areas of service for the new company will include property and facility management, leasing and leasing administration, development, brokerage, and advisory services. With over five decades of combined real estate experience, co-founders and presidents Luc Corneli and Doug McDonald will lead the McCOR team in managing a portfolio in excess of $3-billion in assets.

“The combination of High Peak’s retail redevelopment and repositioning expertise with NewWest’s commercial management capability expands the scope of our service offerings and sector knowledge,” said Doug McDonald, President and CEO, NewWest. “It enables both companies to realize our joint vision of creating a national real estate services company that builds tangible value into every project.”

Written by Nissa on September 24, 2014 – 6:13 pm -
Posted in Mall World | No Comments »

ICSC Launches SPREE Canada at Canadian Convention

918spreeOne of the benefits of ICSC’s acquisition of select assets of Punnacle Publishing Group is that it can bring those assets to an even larger audience. For example, the organization is bringing the Specialty Retail Entrepreneur Expo (SPREE) to Canada for the first time.

It’s debuting as part of the annual Canadian Convention next week, on September 22-24 at the Toronto Metro Convention Centre. SPREE is the trade show for the cart, kiosk and specialty retail sector, and it’s already established as a must-attend event in the United States. SPREE’s Canadian debut is specifically designed to address the nuances of the Canadian specialty retail industry, attracting retailers from across the region.

“With the success of SPREE USA in Las Vegas, ICSC is endeavoring to bring this event to other markets around the world, and bring new sectors within the industry to our members,” said Patricia Norins, vice president, specialty retail, ICSC. “Canada is our first stop, and this event will showcase exciting new products, services and locations that are a great fit for expanding Canadian retailers,” she added.

The event is free for Canadian Convention attendees, so if you’re already planning to attend the convention, make sure to check it out. It will feature educational seminars and panels that are designed not only for specialty retailers but also specialty leasing managers. SPREE will also add 5,000 sq. ft. of exhibit space to the trade show’s exhibition.

“The exhibit hall will provide an important deal making opportunity, under one roof, for this critical segment of the industry,” said Norins. “The Canadian specialty retail industry has specific needs that have not yet been fully addressed. Now we will be able to provide educational content that is in complete alignment with what is happening in the marketplace,” she concluded.

Written by Nissa on September 17, 2014 – 5:21 pm -
Posted in Mall World | No Comments »

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