FRAME’s Post

Retail space continues it's evolution to smaller footprints. How will the larger spaces allow for continued growth moving forward. Solutions in CRE are the key. #cre #expansion #retailrealestate #retailleasing #development #economicdevelopment https://lnkd.in/er28FGpE

Some more about Retail Revitalization in Plano

🌇 From the heart of Fifth Avenue, Michael Remer shares the latest from the New York Q4 retail report >> https://co.jll/3O2bIcf 📈 Tune in to hear about the stats on retail availabilities and the latest store openings impacting NYC retail. #NYC #RealEstateUpdate #NewYork #Q4Report

In his video "Why Weirdness is Taking Over Downtown Retail," Stewart Hicks argues that the rise of unique and unconventional retail spaces is reshaping downtown environments. Here are three key points: 1.Traditional retail spaces are being replaced by more experimental and bizarre concepts. This shift is driven by consumers' desire for experiences that stand out from the uniformity of chain stores. This trend has led to the development of stores that focus on offering unique, immersive experiences rather than just products. 2. Retailers are increasingly repurposing old, non-traditional spaces, like former factories or warehouses, which adds to the eclectic feel of downtown areas. This reuse of space not only revitalizes neglected buildings but also contributes to the distinctiveness that draws people to these areas. 3. Impact on Retail Strategy These changes are pushing retailers to rethink their merchandising strategies. The focus is shifting from pure functionality to creating environments that encourage exploration and social media engagement, which can drive both foot traffic and brand awareness. These trends are influencing the retail industry by encouraging more creative and personalized approaches to store design.

Despite the retail real estate comeback, roughly 500 department store spaces nationwide now sit vacant. Why have so many department stores been forced to close? Partner Andy Bank, chair of our Real Estate Practice, told The Wall Street Journal that the decline of department stores can be attributed in part to online shopping. Now that shoppers can order directly from retail brands, department stores are less necessary for customer acquisition and boosting retailers’ profit margins. He noted that retailers are increasingly opening their own stores rather than relying on department store staff to sell their goods. Retailers prefer to control their customers’ entire experience, from the way their products are displayed to the shop’s lighting and scent and the design of the shopping bags customers walk out with. Wall Street Journal subscribers may read the full article here: https://lnkd.in/ejCMfiiU Read more here: https://lnkd.in/e_ShURA2 #CommercialRealEstate #Retail

C-store updates, remodels, and refreshes are important to retain customers and create new loyal customers to beat the competition. There are over 152,000 convenience stores operating in the US alone! That's more stores than McDonald's and Starbucks combined according to NACS. What would it cost you if your C-stores did not perform against the competition? Read more in the newest article "Projects Spotlight: Transforming C-Stores One Project at a Time" by Matt Teeter, Vixxo's Sr. Project Manager of C-Stores: https://hubs.li/Q02CkRNg0 #cstores #facilityexcellence #projects

The amount of available shopping center space has declined steadily over the past decade and is now near historic lows. Demand for retail space has been broad-based, with availability declining across box sizes and regions. At the same time, dozens of large national retailers are pursuing significant store expansions as they brace Wall Street to expect thousands of planned future store openings. #commercialrealestate #retailrealestate #expansion

Grocery Dive reporters Catherine Douglas M. and Sam Silverstein recently visited a Walmart supercenter in Germantown, Maryland, that was remodeled last summer to examine the improvements and see what the retailer might have in store for future remodels. Walmart is ramping up its store renovations, which include adding products and modernizing layouts, at a time when discounters and mass retailers have been taking grocery market share from traditional supermarket operators. The company is engaged in a large-scale program to refresh hundreds of its locations around the U.S., part of a push by the mass retailer to modernize the overall shopping experience and reinforce its leading role in the grocery sector. John David Rainey, Walmart’s CFO, told investors in February that the retailer will work on 650 remodels in the U.S. during fiscal year 2025, adding to the nearly 700 remodels it completed last year. Walmart already commands roughly a quarter of the U.S. grocery market grocery and continues to report market share growth each quarter.

For the first time in 20 years, the demand for retail space has outstripped supply, placing landlords in an unfamiliar but advantageous position. According to a recent piece in The New York Times, retail continues to demonstrate remarkable strength, with vacancy rates hitting a two-decade low of 5.4 percent, according to a recent national report by Cushman & Wakefield. Despite significant closures by major retailers like Macy's and EXPRESS, shopping centers are thriving. This surge in demand follows years of limited construction and the strategic elimination of underperforming properties. The surviving retail spaces have capitalized on this by attracting tenants that enhance shopper engagement and encourage longer visits. This trend has led to an increase in restaurants and recreational venues, such as ax throwing and pickleball, while reducing space for less profitable traditional retailers, like bookstores and certain apparel brands. A curated approach toward diversity and vibrancy in tenant mixes is reducing redundancy, boosting overall property productivity, and significantly altering lease negotiations. Read more below:

"Macy’s 🏬 and J.C. Penney 🛍️ have two very different real estate strategies 🏢💰 One has a downsizing plan that includes profitable stores 📉👍 The other plans to keep — and possibly open — even low-volume stores 📈🤔 What’s going on? 🤷♀️ #RetailStrategy #RealEstate #BusinessModel" by Retail Dive about Macy's