The hospitality industry’s influence has expanded significantly in recent years, with an integration into chic corporate office spaces, custom retail environments and even healthcare facilities.
Retailers are constantly focused on reinventing their brands to meet changing consumer expectations, so it’s no surprise that furniture retailer West Elm recently announced its plan to launch a chain of boutique hotels in order to sustain its growth without opening an army of new stores.
This blog post is a continuation of Supermarket Sweep Part I: Grocers Compete, Retail Real Estate Wins. In order to carve out market share in the slowly growing industry, grocery sellers will have to fight tooth and nail in order to prevail in each arena: convenience, price and experience.
Do you remember the game show Supermarket Sweep? In it, teams of shoppers would race through the grocery aisles competing to fill their carts with the most expensive items within a time limit. The show turned what many considered a dull weekly chore into a race against time. Back when Supermarket Sweep first aired in the sixties and later when it was revived in the early nineties, the weekly shopping trip… Read More
In 2006, NASA launched the New Horizons spacecraft for a nine -year mission, the Steelers defeated the Seahawks, and the Nintendo Wii was introduced to America’s youth. It was also the year retail development in the U.S. hit an all-time high of 261 million square feet under construction, with ambitious mega entertainment facilities underway. Within five years, construction halte
d in 2011 and… Read More
1) The End of Overbuilding: Concerns of an overbuilt market impacting Atlanta retail are finally beginning to wane, and the sector is back on the upswing. Overall retail absorption is increasing, which is good news for the suburban market. There was a net 3.3% absorption across the market over the past year, with staggering in-town absorption of 10%. Vacancy rates are dropping as… Read More
1. GO BIG OR GO HOME: Tired and stagnant shopping centers are quickly losing market share, but a slim construction pipeline makes now a prime opportunity for owners to renovate their existing space. Retail real estate owners need to create a unique, exciting and convenient shopping experience to not just attract, but retain their customers. A redevelopment can increase the competitiveness of… Read More
1. EMBRACE THE OMNI-CHANNEL EXPERIENCE: More and more retailers are striving to build a true omni-channel experience that merges at-home, in-store and mobile commerce into one seamless experience. In other words, if a customer wants to view an item online, purchase it using their phone and pick it up in-store, they can do so in a smooth and effortless way. Omni-channel provides the… Read More
1. DITCH THE PAPER, DO DIGITAL: Rising paper costs and decreased customer usage makes going paperless a “no brainer” for your shopping center. Shoppers like receiving messages about retailer sales, upcoming events and safety information on their smartphones, tablets and digital devices. Embrace the opportunity to dump the paper flyers, and enable… Read More
North Dakota’s premier mixed-use development, Williston Crossing, is moving full steam ahead. The Williams County Board of County Commissioners today granted entitlement for the development by a vote of three to two. Stropiq, Inc., the international real estate principals behind the ambitious retail-driven project will now move forward into the pre-leasing stage.
The shale zone underneath the Dakotas and Montana already churns out a million barrels per day, output that has made North Dakota the second-largest oil-producing state in the country. Preliminary development plans to support the influx of residents in Williams County has already begun, and the proposed Williston Crossing retail, entertainment and mixed-use… Read More