Mixed-Use Proliferates
Feb 1, 2006
Time was when mixed-use developments were experimental, even controversial. Did people really want to live above the store? The answer, increasingly, is ‘yes’ as retail developers continue to add residences, offices, even hotels to their mixed-use complexes with the goal of squeezing as much profit out of the projects as possible. ...
Mega-Albertson's Deal Redraws Industry Map
Jan 25, 2006
Just as the Sears/Kmart and Federated/May mergers underscored the diminishing role of department stores (and therefore danger signs for the traditional mall), the proposed $17.4 billion buyout and break up of Albertson's Inc., has similar implications for strip centers. Moreover, the presence of Kimco Realty Corp. in the deal continues a company trend in profiting from a distressed retailer's real estate. ...
Private Equity Firms Likely Buyers for Lord & Taylor, Parisian
Jan 19, 2006
It's that time of year again, when, following the success or failure of the critical holiday season, retailers evaluate their future strategies. That often leads to big changes and this year is no exception: Saks Inc. and Federated Department Stores Inc. both have decided to lighten their loads, putting the Parisian and Lord & Taylor chains, respectively, up for sale. ...
Glimcher, Oxford Properties Ring In New Year With Joint Venture
Jan 5, 2006
The New Year started with the continuation of one of 2005's biggest trends as Columbus, Ohio-based Glimcher Realty Trust became the latest U.S. REIT to pair up with a foreign pension fund. Unlike its cohorts, however, Glimcher didn't look down under to Australia. Instead, it tapped the Great White North and has partnered with Oxford Properties Group, a real estate company owned by the Ontario (Canada) Municipal Employees Retirement System (OMERS). ...
Construction Costs Could Cause Delays
Dec 29, 2005
A growing number of retail projects could be put on hold in 2006 as the price of construction materials continues to rise as much as, or more than, 2005. ...
NY Transit Strike Pinches National Chains
Dec 22, 2005
New York retailers are preparing for a grim holiday season, as the city's transit workers remain on strike for the second day -- with no new talks scheduled between the Transport Worker's Union and the Metropolitan Transit Administration. If the walkout continues through Christmas, December sales could take a hit, analysts say. ...
Congress Extends Terror Backstop, But Supporters Pledge More Lobbying
Dec 22, 2005
On Monday, less than two weeks before the 2002 Terrorism Risk Insurance Act (TRIA) was set to expire, Congress ended months of on-again, off-again negotiations and passed a two-year extension. Real estate owners are relieved that the deal got done under the wire, but aren't thrilled about the higher costs they will likely have to pay for insurance premiums. And insurers aren't thrilled that they will be liable for a much greater share of the costs stemming from any attacks. ...
Cap Rates Finally Begin to Diverge
Dec 15, 2005
At the height of the retail real estate feeding frenzy investors had to pay the same cap rates for assets across the country regardless of location or quality. But observers say in recent months things have cooled a bit and that for the first time in a while the price difference on Class A and Class B assets and prices in primary and secondary markets is growing. ...
Santa's Christmas Wish: More Discounters at Malls
Dec 2, 2005
After disappointing holiday sales last year, Wal-Mart decided that, at whatever cost, it would boost sales and traffic this year by discounting early and aggressively. Apparently, the plan is working. The world's biggest retailer reported that more than 2 million customers passed through the front doors of its U.S. stores between 5 a.m. and 7 a.m. the morning of Black Friday, as shoppers raced for limited quantities of super-sale items, such as Hewlett-Packard desktop computers for $398. ...
Holiday Sales Look Off-Target
Nov 17, 2005
Has the Grinch stolen Christmas? Make that, has Target stolen Christmas? The country's second-largest discounter warned that November same-store sales would fall short of expectations of last year's 4 percent to 6 percent gain, but it didn't say how short or explain why. The estimate is based on sales in the first two months of the year and expectations for the rest of the month. ...
Inventory Controls Signal Holiday Pessimism
Nov 10, 2005
Want a clue as to the holiday season may turn out? Look at inventory management. After a slow fall, retailers report that excess inventory still needs to be moved, and, as a result, they have cut back their holiday orders. They don't want a repeat of last year, when retailers got stuck with big inventories and cut prices too late. ...
A Post-Halloween Horror Show at Mills
Nov 3, 2005
Mills Corp. played the role of Michael Myers this Halloween, shocking investors and analysts by postponing its third quarter earnings report and warning that when the numbers emerge they will be "substantially below expectations." ...
Kimco Searches High and Low for Yield
Oct 26, 2005
How hungry are real estate investors for yield these days? Take a look at what shopping center REIT Kimco Realty Corp. is doing. The New Hyde Park-based company, with a 116-million-square-foot retail portfolio has turned to net-leased industrial properties in Mexico, its latest divergence from its core business as it tries to maximize returns. The company announced during its third quarter conference call Tuesday that it has formed a joint venture with American Industries, one of the largest owners of industrial property in Mexico. Kimco paid $55 million to acquire a 50 percent interest in 57 net-lease industrial and distribution buildings. ...
ShopKo Switches Gears, Embraces Sun Capital
Oct 20, 2005
ShopKo Stores Inc. signed a merger agreement to be acquired by an affiliate of Sun Capital Partners, who -- for the moment -- appears to have beaten out its chief rival, Goldner Hawn Johnson & Morrison, in the race to buy the Midwest-based discounter. ...
Send Us Your Mixed-Use Projects!
Oct 13, 2005
Retail Traffic will begin running a list each month of the biggest and/or most innovative mixed-use developments that include retail as an important component....
