FuseGIS’ Post

Find out how high-end steakhouse president leads others, what is happening with the redevelopment of DeSoto Square Mall, and what lessons Tampa deli owner reflects on after five decades. Read all about it in this week's #LQCRE #TampaBay #LQTPA #Retail #News Brief.

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We don't know about you, but we love a department store. Everything under one roof! A cornucopia of delights! Can you imagine how exciting that must have been when they first started appearing in the mid to late 19th century? Now, however the age of the department store seems to be drawing to a close and subsequently many wonderful, sometimes genuinely historic buildings are at risk (think M&S in Oxford Street). Can they be adapted and reused? It's not easy, but there's a case to be made - and Tim Miles and Bridget Crossley of Montagu Evans have made it on The Planner website today. Meanwhile, with excellent timing, Historic England has launched a nationwide research project to find out more about the history and cultural significance of purpose-built department store buildings. We love it when a plan comes together.   Click the pic below for a great précis of the history of department stores, their cultural meaning and their continued value as buildings that can serve more contemporary purposes. https://lnkd.in/eYmvT46a Pic: The 1960s Cole Brothers department store in Sheffield, which subsequently became John Lewis and is about to be redeveloped as 'Cole store', a multipurpose work, leisure, eating and shopping destination. #townplanning #urbanplanning #departmentstores #heritagebuildings #builtheritage #heritage #historicbuildings 

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

In retail real estate the most in-demand space right now are second generation restaurants from 1,800-2,800 SF with grease traps, hoods, and walk-in cooler’s/freezers. These should demand a premium rent and you should have multiple prospects right away if marketed correctly. Choose wisely! Focus on restaurants with ideally 2 or more locations first. On the tenant rep side, understand the significant competition for spaces such as these and expect to pay close or at the full ask with minimal to no TI depending on the specific location and your credit. As a tenant rep advise your clients accordingly. Follow 👉🏻 #FloridaRetailPro #CCIM #ICSC #shoppingandtheretailindustry #retailrealestate #CRE #landlordrepresentation #tenantrepresenation

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Another example of Brixmor’s ongoing transformation story that drives traffic for tenants, value for investors and thriving centers that become part of consumers’ daily lives. Shout out to Leigh Paull, AIA, LEED AP, Stephen Trommsdorff, Susan Martinez, Jeff Bell, Christopher Ralph and Josh Durigan. Brixmor Property Group #ourcenterisyou

It's challenging to be a retail tenant these days... Vacancy is at 7.9% across #northwestarkansas and it's much lower than that in the "prime retail" pockets - West Bentonville, West Rogers/Pinnacle, and North Fayetteville. If a business needs a drive-thru, there's going to be multiple offers to lease the same space and the owner will be juggling lots of different variables in evaluating which is the right deal. We recently helped a national restaurant tenant secure a drive-thru space when they were up against 5 other offers in Bentonville. If you or someone you know would like more information on the #NWAretailmarket, we would love to be a resource. #retailrealestate #tenantrepresentation

As one of the first to deploy this model for mall redevelopment, we can say first hand that reimagining mall spaces to meet the needs of the community, residents, and shoppers alike is a winning combination. Since delivering the first phase of multifamily additions at the Fox Valley and Hawthorn Malls last summer, both are over 80% and 65% leased respectively. Not only have the new apartment communities been well received, but the influx of residents, added ground floor retail, and new public green space has helped attract new and exciting retailers as well. At Hawthorn Mall for example, we've welcomed luxury retailers like Anthropologie, restaurants like Perry's Steakhouse & Grille and unique grocers like Dom's Fresh Market. Read more about the trend from the The Wall Street Journal. https://lnkd.in/ghhjzZ4R

Empty Bed Bath & Beyond stores are getting a new lease on life as a diverse array of businesses take over. With the closure of Bed Bath & Beyond locations, Burlington Stores CEO Michael O’Sullivan highlighted their successful takeover of 44 spaces. This shift has seen a mix of traditional retailers like Michaels and Macy’s alongside unconventional additions such as indoor pickleball courts and trampoline parks filling up these vacancies. The closure of Bed Bath & Beyond stores wasn’t an isolated event but rather a symptom of broader trends. The landscape of retail has been dramatically impacted by the surge in online shopping and a scarcity of new retail constructions since the 2008 financial crisis. As a result, the adaptive reuse of existing spaces has become a strategic choice for retailers eyeing a presence in specific suburban areas, leveraging the appeal of smaller square footage, cost efficiency, and the changing habits of modern shoppers increasingly inclined towards online purchases. This shift isn’t just a change in facades; it's a testament to the resilience and adaptability of the retail sector, constantly reinventing itself to meet evolving consumer needs. For more information: https://lnkd.in/gQCh2b9C #BedBath&Beyond #Burlington #Macys #Michaels #Retail #AdaptiveReuse #MarketTrends #Pickleball #CommercialRealEstate #News #Article #CRENews #KeystoneCRE #BigBoxSpace #OnlineShopping #MarketShift