lululemon’s Post

Last day of operation for Starbucks today in Dunbar on Vancouver's west side neighbourhood and bucket truck ready (photo left) to assist with branded sign removal. This transition from street front retailers housed in 50 year old plus low rise wood frame buildings going to multi-family above new concrete at grade retail is painful given the 3 to 4 year wait until new stores open their doors. But that is one community price of much needed densification along arterial roadways in the region. The nuanced development challenge is fully integrating retail units into the larger scale residential above that works for the independent retailer providing a unique offering and adding to sidewalk interest and animation. And Landlords taking a wholistic and long term view for lease rate escalations for savvy homegrown operators are reaping the dividends of this development approach. There will be a growing inventory of “bite sized” strata retail units available giving store owners the opportunity to own their retail location. The industry capability is definitely there to make this transition happen and many great retail store examples are springing up already such as Parthenon food market on Broadway (pictured right) that manages to be “new” and “established” at the same time. Given block after block of old street front retail will be redeveloped in the region over the next decade, more collaboration than ever is required between developers, architects and related professionals, Landlords, Tenants, municipalities, lenders, and the real estate brokerage community to make all this “new day” street front retail take full advantage of its highly visible and efficient space. With patience and industry working to our retail development potential, it will be worth it… #CRE #retailproperty #retail #development

Southeast Commercial Real Estate | 228.276.2700 CitiPlace Center is perfect for investors seeking a strategic asset in a dynamic retail landscape located in Houma, LA. Spanning approximately 20,750 square feet CitiPlace Center presents an attractive value-add opportunity with two available vacancies for potential investors. Key Features: Tenant Mix: Anchored by prominent businesses such as Moe's Southwest Grill, Lendmark Financial, Salad Station, Firehouse Subs, Quest Diagnostic, and Crumble Cookies. Traffic Volume: Benefits from significant daily exposure with traffic counts averaging 29,386 vehicles per day. Value-Add Potential: With two vacancies, there's ample room for growth, enhancing potential revenue streams and capital appreciation. Strategic Location: Positioned in an area along MLK Blvd. adjacent to bigbox retailers, hotels, and restaurants including the popular sports restaurant and bar, WalkOn's, which was recently built directly across the street from the strip center. Citiplace is in the mix with robust consumer activity, ensuring consistent traffic and driving business to our tenants. For more info: https://ow.ly/9qRk50PREhS

This will be fascinating story to watch play out. I have fond memories of doing weekly shopping with my mom at the former Tom Thumb Page and eating dinner at August Moon every Sunday. Both closed many years ago as new retail was developed across the street and further north. The center remained challenged due to its layout and design with second floor retail among a loss of national brands due to bankrupcies. The developer is proposing 1,500 luxury units which will require a 12-foot residential structure at Preston and Beltline which is already an incredible busy intersection. Likely why it was formerly ripe for retailers. Seems incredibly dense and a plan that is not feasible with the current trends on rents, affordability , and impacts on surrounding neighborhoods. Dallas will have to contend with the explosive growth alongside aging office and retail corridors and make some hard decisions that may not always be popular. The City will have to navigate the complexities of providing more middle housing , opportunities for upward mobility alongside established neighborhoods. https://lnkd.in/gaJ55fU2 *person opinion and not representative of Invesco

Thank you to the Commercial Observer and Mark Hallum for the opportunity to share thoughts on San Francisco retail. In spite of high profile closings, there remains much to be optimistic about. Here's a couple: i. Department Stores - Believe it or not, Nordstrom and Macys would like to have a store in San Francisco, just not 312,000 SF and 400,000 SF! Entirely possible in coming years both companies 'right size' and open smaller prototypes. Macy's may lease back a smaller portion of their existing building as part of the future sale. ii. Financial District - Yes, high vacancy, but retail touring activity, sign calls and LOI negotiations are up substantially over Q1 2023. Recoveries start with local businesses. Opportunity seems to be outweighing exposure. You can have a profitable business so long as your occupancy costs are in balance with your sales. Landlords and Retailers are working more closely together than ever. iii. Neighborhoods - Performing very well. Pedestrian retail streets have very limited vacancy with rents at or exceeding pre-pandemic levels. Several neighborhood requirements on behalf of clients unfilled to due lack of availabilities. Fillmore, Chestnut, Union, Hayes street pandemic vacancies have mostly been filled. iv. City Hall - Moderate voices on public policy, zoning and supporting business are winning the day. Union Square and the Financial District, in spite of high vacancies, are safer and busier. Incidents of retail theft are down and law enforcement has more support from City Hall than it has in years. This will increase customer visits and positive experiences and ultimately sales. While it will take time, what arises from the recovery process can be more relevant, meaningful and successful than what existed prior. Would not want to live or work anywhere else in the world and when i look around my office i know others feel the same! #letsgo #welovesf #recovery #jllsfretail

At the place where two of the country’s most prominent thoroughfares meet lies an intersection in disarray. Empty storefronts, scaffolding and construction, and over it all, the looming half-built luxury condo development The One, recently put into receivership with pre-construction buyers fighting to pull out, reported the Toronto Star. "The convergence of Toronto’s Yonge and Bloor streets has been a gateway to the luxury shopping strip along Bloor between Yonge and Avenue Road called the Mink Mile, with the intersection featuring prominent department stores including Hudson’s Bay and Nordstrom Rack." "But in the wake of growing online retailers and the pandemic, many former landmark shops have closed their doors — leaving construction and empty storefronts in their place. With The One luxury condo development, which once held the promise of a new future for this area, now the centre of ongoing controversy, the current state of the intersection is in flux." "Although retail analysts and locals say Yonge and Bloor may never be the central cultural heart of Toronto — a local answer to London’s Piccadilly Circus or New York’s Washington Square Park — due to the lack of gathering space and visually appealing community landmarks, they have high hopes for a resurgence of retail and vibrancy over the next two years." https://lnkd.in/dMgCnVdy #toronto #development

I know most people think #postmodernism is really over, but I'm going to stick my neck out and say that this looks like the first really post-modern #mall. There are post-modern buildings that are shopping malls, but they all have modernist approaches to #place - i.e. they have limited interactions with surrounding #streets and #neighbourhoods, are internally focused, and are not part of a wider urban context. So by adopting pre-modern approaches to place (and that means working with surrounding streets and neighbourhoods) we get a post-modern take on place.

Southeast Commercial Real Estate | 228.276.2700 CitiPlace Center is perfect for investors seeking a strategic asset in a dynamic retail landscape located in Houma, LA. Spanning approximately 20,750 square feet CitiPlace Center presents an attractive value-add opportunity with two available vacancies for potential investors. Key Features: Tenant Mix: Anchored by prominent businesses such as Moe's Southwest Grill, Lendmark Financial, Salad Station, Firehouse Subs, Quest Diagnostic, and Crumble Cookies. Traffic Volume: Benefits from significant daily exposure with traffic counts averaging 29,386 vehicles per day. Value-Add Potential: With two vacancies, there's ample room for growth, enhancing potential revenue streams and capital appreciation. Strategic Location: Positioned in an area along MLK Blvd. adjacent to bigbox retailers, hotels, and restaurants including the popular sports restaurant and bar, WalkOn's, which was recently built directly across the street from the strip center. Citiplace is in the mix with robust consumer activity, ensuring consistent traffic and driving business to our tenants. For more info: https://ow.ly/9qRk50PREhS

Southeast Commercial Real Estate | 228.276.2700 CitiPlace Center is perfect for investors seeking a strategic asset in a dynamic retail landscape located in Houma, LA. Spanning approximately 20,750 square feet CitiPlace Center presents an attractive value-add opportunity with two available vacancies for potential investors. Key Features: Tenant Mix: Anchored by prominent businesses such as Moe's Southwest Grill, Lendmark Financial, Salad Station, Firehouse Subs, Quest Diagnostic, and Crumble Cookies. Traffic Volume: Benefits from significant daily exposure with traffic counts averaging 29,386 vehicles per day. Value-Add Potential: With two vacancies, there's ample room for growth, enhancing potential revenue streams and capital appreciation. Strategic Location: Positioned in an area along MLK Blvd. adjacent to bigbox retailers, hotels, and restaurants including the popular sports restaurant and bar, WalkOn's, which was recently built directly across the street from the strip center. Citiplace is in the mix with robust consumer activity, ensuring consistent traffic and driving business to our tenants. For more info: https://ow.ly/9qRk50PREhS

When Caruso opened The Grove in Los Angeles in February 2002, everyone said the concept would not work. Now everyone wants to be like them… Last week I talked about how the parent company of IKEA is investing in malls and making Ikea an anchor tenant. Now Simon Property Group just announced that it is investing $400M into Southdale Center in suburban Minneapolis, one of the oldest malls in America. They want to position it as the “Mall of the Future.” “…malls need to become live-work-play communities,” said Bahram Akradi, CEO of Life Time Inc. who opened a location at Southdale Center in late 2019 where the JCPenney once stood. Now it’s the busiest location for the company with the average member going 17 times a month, compared to 11 for other locations. Some of the other additions coming: 💻 A co-working space (of course) 🛒 An upscale grocery store 💰 A luxury wing that will include Burberry, Gucci and Moncler As well as adding these retailers: 🛍 Coach 🛍 Kate Spade 🛍 Lululemon 🛍 Tory Burch 🛍 Max Mara 🛍 Breitling Plus a hotel and apartment building. Malls are going from being these enclosed spaces where you would have to go to make a purchase, to now becoming lifestyle centers where you go to eat, enjoy happy hour, work, live, see a movie, and more. This is why at Universal Media we’re excited for the future. We started in shopping malls over 40 years ago and continue to evolve right alongside them as they become more lifestyle centers. We’re seeing it with The Americana at Brand in Glendale, CA. The Village at Totem Lake in Kirkland, WA. And even here in Utah with the new Mountain View Village in Riverton. Do you agree the mall of the future is a live/work/play destination? #robynsthoughts #futureofretail #lifestylebrand (Photo c/o Town & Country Magazine)