Ashley Global Retail’s Post

Good case study for #DontWasteBuildings. Covers all the challenges we have been discussing - the importance of the High Street and the opportunity to retain a building that has been important to the community. Will Hurst Tania Jennings Chris Brown Richard Nelson Sara Willard

#InTheNews: This year, #retailers are on track to open more #stores than they close. A new article from Kate King for The Wall Street Journal detailed how physical #retail spaces have become limited following years of low construction, in turn providing #landlords with opportunities to successfully fill vacated spaces with new offerings that increase foot traffic to #malls and shopping centers. Read the full article here: bit.ly/3X170B0 

Red Flags to Watch for in Retail Centers 🚩 As a commercial real estate broker and former property manager, I’ve got 3 major red flags to watch for when evaluating retail centers: 1. Trash & Maintenance: Overflowing trash cans and neglected parking lots are a sign of poor property management. If it looks like no one cares, that’s a problem. 2. Signage Issues: In retail, signage is key! Make sure your business can have visible signage, and check if existing signs are well-maintained. If the center limits banners or displays, that could hurt your business. 3. Churches in Retail Centers: While I have nothing against churches, they can signal that a center isn’t thriving. Churches don’t typically generate the foot traffic that helps retail businesses succeed. What other red flags do you look out for? Drop your thoughts below!

I had the privilege, last week, to participate in an informal panel on the future of retail at the annual ICSC Conference in Whistler. During that session my co-presenter/collaborator (David Ian Gray) and I—along with our moderator Neena Arora—identified that there ought to be more collaboration between retailers and the shopping center developers (ie landlords) to co-create the type of retail environment that will reignite the in-person shopping experience. And as much as I believed that (major) retailers would and should be stepping into the building & development sector, I strictly envisioned it being for the commercial side and not for the residential side of things—as Leon's Furniture plans on doing. Then again, the shopping centers have been leveraging their available land and redeveloping their properties to create residential homes for years now, so it only make sense that the retailer can do the same. There's not much that comes out of the retail sector that surprises me, as of late, but this announcement has. And, I must admit, I am impressed. Kudos to the innovative thinkers within the Leon's leadership team. Because retailers are known for 'killing the goose that laid the golden egg' (aka copying and replicating a novel idea until its commonplace) I expect more large retailers to do the same. Who do you feel will be next to make a similar announcement? Michael Penalosa John G. Crombie Constance S. Kieron Hunt David Lui Tim Dumas Jim Stewart Sabrina Lakos #FutureOfRetail #LeonsFurniture #ICSCwhistler #ICSCwhistler2024 https://lnkd.in/ets2ph9Y

While traditional formats might be waning, there is hope that high streets can evolve into spaces incorporating retail with lifestyle and local services, aiming to become community hubs rather than just shopping centres. This evolution requires retailers, government, and consumers to adapt to a more integrated retail experience that values local, unique, and experiential commerce and community (social, health, education) services. #highstreet #retail #community #commerce

Filling the void: Spartanburg's WestGate Mall renews effort to sell vacant spaces 🏙️ Despite the recent surge in economic growth, the commercial real estate market is facing some tough challenges. With the rise of e-commerce and remote work, traditional brick-and-mortar stores are struggling to keep up. 🛍️ This has resulted in a surge of vacant storefronts, like the ones at Spartanburg's Westgate Mall. 💼 As businesses adapt to the changing landscape, it's more important than ever for commercial real estate developers to be innovative and creative in attracting tenants. 💡 This could mean repurposing spaces or offering unique amenities to stand out in a crowded market. 💰 But with the right strategies and a resilient mindset, the commercial real estate market can overcome these challenges and continue to thrive. 💪 #CommercialRealEstate #RetailRevolution #InnovativeSpaces #AdaptOrDie #SpartanburgMall #BusinessChallenges #RealEstateSolutions via @postandcourier

Oh, now this has got us very excited! The biggest single store revamp Marks and Spencer has ever invested in, and it’s right on our doorstep at our local Fosse Park! As reported in Retail Gazette, the current store is expanding to a whopping 100,000 sq. ft allowing space for more product lines within their food, clothing, homewares, and beauty categories. Hoping to create a ‘brand defining’ store here in Leicestershire, we cannot wait to keep an eye on the developments over the summer and be one of the first to explore the shopping experience once all is complete in the autumn. This expansion not only signifies the brand’s healthy position, but is also evidence of the growing popularity, strength, and transformation of out-of-town retail parks into major shopping and leisure destinations. Fosse Park, whose tagline is Shop, Eat, Enjoy, note they are ‘seeing visitors come from further afield, with footfall growing year on year’. With brand expansions like M&S, we’re sure this trend is set to continue, and we can’t wait to see what’s in store next! Watch this space for more… #marksandspencerstoreexpansion #marksandspencerfossepark #fossepark #retaildestinations #leicestershopping #retaildesignagency https://lnkd.in/eawYw4Rm

Say Goodbye To Retail: Converting Stores Into Storage With the growing trend of vacant big box retail stores, cities are grappling with how to repurpose these spaces. We’ve tapped into this opportunity by transforming these empty retail locations into high-demand storage units. This approach not only revitalizes unused urban areas but also meets the increasing need for storage solutions. Here’s a behind the scenes looking into our Parma Heights, Ohio project. #realestate #storage #realestateinvesting

There’s no bigger sports fan than me. And yet, as I explain near the end of this Philadelphia Inquirer story (link below), something about the plan for a new 76ers’ BASKETBALL ARENA ON Center City's HISTORIC SHOPPING STREET doesn’t smell right. It is true that neither the Market East district (with 22.0% vacancy as of 9/23) nor the Fashion District mall (24.4%) are thriving at the moment. The Sixers may even be right that their plan is the one most likely to catalyze large-scale real estate transformation there. But is that what's actually called for, or even widely desired? After all, the arena would also obliterate three of the “experiential” anchors - AMC, Round 1, City Winery - that supposedly represent the next (Internet-resistant) wave of retail. More to the point, Market East has for decades catered to Philadelphia's middle and lower-income shoppers, a sharp contrast and important supplement to the more upmarket mix along Center City's Rittenhouse Row. The Fashion District featured - and still features - a slew of brands that serve this purpose, like Primark, H&M, Forever 21, Burlington, ULTA and a host of branded outlet stores (Nike, Levi's, Columbia). Does such an offering maximize the location’s and corridor’s development potential? Maybe not. But that’s not the only role of a Downtown. Indeed, I’ve long argued that a Downtown - especially the part of it that sits at the nexus of the regional mass-transit network - should also act as a true crossroads for the entire community. In my mind, then, it was/is the right move, in terms of market positioning and civic cohesion, to focus on broadly-accessible “crossover” retail along Market East: to waive the white flag after four pandemic-filled years seems not just premature – with so many of the initial retailers still remaining – but irreversible, for once the number and range of stores falls below a certain threshold, the “comparison-shopping” appeal plummets. The arena would only need one-third of the existing footprint, so the current mix could theoretically be consolidated in the remaining two-thirds, but that's easier said than done. Proceed with caution, Philadelphia. #retailcontrarian #retail #retailleasing #retailrealestate #retailproperty #retailtrends #retaildevelopment #retailmarket #retailbroker #retailspace #retailindustry #retailers #downtown #mainstreet #mainstreets #citycenter #citycentre #highstreet #urbanretail #icsc #commercialrealestate #ida #iedc #uli #icma #planning #marketanalysis #siteselection #futureofretail #urbandevelopment #jll #zoning #retailvacancy #vacantstorefronts #emptystorefronts #citymanager #cnu #businessimprovementdistrict #wwd #retailbrew #storefront #downtownrevitalization #nyt #wsj #urbanregeneration #planetizen #economicdevelopment #storefronts #atcm #centercitydistrict #ccd #centercityphiladelphia #brickandmortar #ecommerce #shopping #brickandmortarretail #ingasaffron #jeffgammage #cherelleparker #marksquilla #urbanist #dvrpc #davidadelman

What’s happening on the #highstreet and #towncentres this week…? In #Watford ‘s Atria shopping center, a new 40k sq ft ZARA SA has opened this week - following the other recent openings GREYDER , Warren James , The Works Stores Ltd ,Rituals and Hobbs London In #coventry , Sports Direct have opened in the old BHS building , after 8 years of being vacant. There is also planning permission for a new bowling alley. In the Lower Precinct , The Fragrance Shop, TheWorks, Cards Direct Retail Ltd and Sostrene Grene are all opening soon. Londons #OxfordStreet is undergoing a massive transformation 🌟. It has welcomed over 20 global brands including HMV , Dr. Martens plc , FOOTASYLUM , Under Armour , Krispy Kreme , Frameless and in the near future we will see the openings of IKEA , UNIQLO , Pocket Planet and Moco Museum Gibson, Inc. have just this week opened their first flagship store outside of the US, ‘an ultimate guitar experience for music lovers’. 🎸 Smaller retailers - Monica Vinader Ltd has opened a lovely looking new store in Bath , and Varley has opened a gorgeous looking store on #marylebonehighstreet In Shropshire , there have been a couple of exciting community renovations. The Printworks Bridgnorth project has brought back to life a vacant building as a bustling co-working space. And, the Wellington Orbit has introduced a community cinema and arts centre - repurposing an old disused bank. The Lone Design Club have loads in the pipeline for 2024 including their new store in St John’s Wood- and also potential locations in Chelsea,Brighton,Manchester and some international destinations too. Jollyes- The Pet People are looking to continue their expansion bringing more stores with services like grooming and community pet clinics. They opened 33 stores in 26months and are looking to open significantly more locations. Flight Club Darts have opened c 25 venues with plans to open 8 more in 2024 including a few international destinations. #Ipswich have an £8M regeneration fund available , and are looking for local submissions for viable ideas to bring back vacant property back into use. Housing….I wasn’t able to attend but I have heard the Association of Town & City Management ‘s annual conference this week was excellent, and was centred around this topic. It will be interesting to hear thoughts on this. Markets… #DarlingtonMarketCollective is expanding the market giving new opportunities for businesses as 13 new artisanal kiosks currently being built. Lidos…Future Lidos have just launched a toolkit to help the development and renevation of lidos. Last year was dubbed the ‘year of the lido’ with the opening of the new Sea Lanes Brighton in Brighton , Cleveland Pools Trust Trust in Bath and the refurbed Albert Avenue Swimming Baths in Hull 🏊♀️ 🤩 There is so much going on…🔥who said the high streets dying??.. What else is happening? Please Comment below 👇 #retailnews #placemaking #highstreetpositives