For quite a while there has been very few new shopping centers being developed. Many people may have even questioned whether there would ever be any new significant shopping centers. Apparently, times have changed. In rapid succession, I have been engaged to do the lease up of two brand new, big time, large scale shopping
Mixed Use Development Issues
All In One !
Watch the above video of the Flix Brewhouse concept. Flix Brewhouse solves the age old date night dinner and a movie dilemma ! It is the one stop entertainment solution for an evening of theater, drinks and dinner. The concept is simple: first run movies, fresh craft beers brewed on the premises and…
Just Add Water
Recently, at a conference in Santiago, Chile, I had the opportunity to meet Fernado Fishmann, founder of Crystal Lagoons, and to learn about how Crystal Lagoons is transforming real estate projects around the globe. The concept came to Mr. Fishmann, a biologist turned real estate developer, when trying to come up with a solution to turn…
Cincinnati Central Business District
There has been much written of late about how Central Business Districts (CBDs) are the key to regional economic health, growth and sustainability. We have written in the past about new urbanism concepts and concerns such as walkability and density. We have also written about the benefits of practical public transportation. As I walk through the…
Put That Unproductive Space to Use !
Take a look at how the Korean’s are putting previously unproductive space to use and combining internet sales with brick and mortar real estate. Good idea huh !
Some Good News About Empty Big Boxes
The current economic downturn and the corresponding contraction of the retail sector have resulted in a glut of vacant “big-box” retail stores in shopping centers across the country. Vacant big-box spaces pose special challenges for landlords and communities. While the number of vacant big-box spaces is daunting, there are glimmers of hope as landlords and communities have become increasingly creative in their re-adaptive uses of these dark spaces. For creative landlords who are willing to invest in redesigning and redeveloping vacant big-box spaces, big boxes can provide opportunities for both landlords and communities.
Across the U.S., vacant big-box spaces have been successfully retrofitted for use by nonretail users such as churches, schools, colleges, medical and dental facilities, libraries, office and municipal tenants, health clubs, and other tenants who require large parking areas. Because traditional retail tenants are not available to fill vacant big-box spaces, Landlords should strongly consider non-traditional tenants for re-adaptive uses of vacant big-box spaces because they fill up highly visible vacant spaces (and community eye sores); they tend to be long-term, stable, credit tenants who may invest up-front in infrastructure improvements; and they are often well received by the community because of the benefits they provide.
Vacant Big Box Retail Stores
The current economic downturn and the contraction of the retail sector have resulted in an increasing number of vacant “big box” retail stores in shopping centers across the country. A “big box” is a freestanding building occupied by a single retail tenant that contains between 20,000 to 200,000 square feet of space and is surrounded…
Mixed Use Centers – How Do You Allocate CAM?
Almost all new build shopping centers are mixed use – they include some combination of office and residential in addition to the retail space. Elizabeth Hamilton, in house Real Estate Counsel at Office Depot, recently reminded me of the special problem this presents in allocating CAM, taxes and insurance. Some portion of each must be…
Mix It Up! Mixed-Use Condominium Developments Can Be Rewarding for Developers
“Mixed-use” developments, which incorporate residential units with retail or other commercial uses, have steadily gained in popularity over recent years. This is due to the fact that mixed-use developments offer advantages to developers, owners, tenants and residents when compared to traditional single-purpose developments. Many of today’s home buyers are increasingly interested in living within walking distance…