Iceni Projects’ Post

Are suburban shopping strips doomed? Squeezed by online shopping malls and the cost of living crisis, the future looks grim for many main streets. But the NSW government reckons more apartments may be the answer. #shopping #retail #costofliving #economy #property #development #urban #citylife https://lnkd.in/g-cRfC5z

**Ranking: The UK’s 10 most appealing high streets** Queen Street in Cardiff has ranked as the UK’s most appealing high street by new consumer research from American Express and GlobalData. The study, which surveyed 2,000 consumers across Britain to pinpoint what they believe makes for a great high street, was combined with in-depth analysis to identify the locations with the winning formula. Factors such as an attractive mix of retailers topped shoppers’ wish list (67%), with good parking a close second (62%). The research found that customers also value independent pubs and restaurants, with over half (52%) saying these make a high street ‘great’. The charm of locations with ample entertainment and leisure options such as cinemas and theatres, was highlighted by over a third (36%) as the research also revealed that almost three quarters (73%) of shoppers believe their local high street will remain important to their everyday lives in 10 years’ time. The Top 10: 1. Queen Street, Cardiff 2. Gloucester central shopping streets 3. Eastgate Street, Chester 4. High Street, Winchester 5. High Street, Exeter 6. Princes Street, Edinburgh 7. High Street, Worcester 8. Church Street, Liverpool 9. Buchanan Street, Glasgow 10. Market Street, Manchester American Express general manager, UK merchant services Dan Edelman said: “Each of the top locations identified by our research offer exceptional retail experiences blended with choices to socialise and relax. “Consumers continue to value our high streets and believe they will remain important well into the future. While there is no one solution to guarantee ongoing success, it’s encouraging to see there are plenty of opportunities for collaboration to help deliver this winning formula.” GlobalData Plc head of retail consulting Matt Piner added: “With consumer expectations and shopping habits evolving at pace, high streets are having to continuously adapt to stay relevant. “The locations getting it right benefit from higher footfall and spend; in fact, our analysis shows millions of pounds of additional consumer spending could be unlocked for a typical high street that delivers on the factors shoppers care most about.” Link to article in comments.

We’ve helped clients buy over $40M in shopping centers. (Here’s what we check every time) 1. The tenants Your tenants are what bring in the money. Here’s what we look for: → Big, stable businesses that draw in customers. → A mix of different types of stores or services. → Long leases so the income stays steady. If one tenant leaves, the others keep things running. 2. The location The location has to work for both the tenants and their customers. Here’s how we know it’s a good spot: → The area is growing and attracting people. → Local rules allow room for new businesses. → The stores or services fit the needs of the community. A bad location will drain your investment. 3. The contracts The lease agreements must protect your money. Here’s what we make sure of: → Tenants are paying for their share of costs. → You’re set up for consistent income, not risk. → Contracts are clear and fair, with no surprises. Good contracts mean fewer headaches later. TL;DR: Check the tenants, location, and contracts carefully. Get these right, and you’ll make shopping centers a great investment. P.S. ♻️ Share this if it helped simplify the process! ---------------------------- Follow Adam Shapiro for more!

There are several interesting videos about the problems with shopping centres. This one is quite North American focused, but it does zero in on the dilemma the industry faces...how to become more community focused and less about cars and parking lots.

While many U.S. malls face anchor store closures and empty parking lots, some are finding new life by becoming housing. Real estate developers are building housing inside of or next to shopping malls as department stores like Macy’s, JCPenney and Sears shrink or cease to exist. At least 192 U.S. malls planned to add housing to their footprint as of January 2022. Dozens of apartment projects at malls are underway in California, Colorado, Florida, Arizona and Texas. The trend not only helps to chip away the housing shortage in the U.S., but also brings people closer to the remaining retail and restaurant spaces in shopping centers. CNBC visited a Macerich housing project at Flatiron Crossing Mall in Broomfield, Colorado as well as the Arcade Mall in Providence, Rhode Island to find out what it is like to live inside a mall. https://lnkd.in/gm33n43U

How Shopping Malls Are Being Transformed Into Apartments In The U.S. CNBC While many U.S. malls face anchor store closures and empty parking lots, some are finding new life by becoming housing. Real estate developers are building housing inside of or next to shopping malls as department stores like Macy’s, JCPenney and Sears shrink or cease to exist. At least 192 U.S. malls planned to add housing to their footprint as of January 2022. Dozens of apartment projects at malls are underway in California, Colorado, Florida, Arizona and Texas. The trend not only helps to chip away the housing shortage in the U.S., but also brings people closer to the remaining retail and restaurant spaces in shopping centers. CNBC visited a Macerich housing project at Flatiron Crossing Mall in Broomfield, Colorado as well as the Arcade Mall in Providence, Rhode Island to find out what it is like to live inside a mall. (9:13 minute video) https://lnkd.in/e6eUHVgT

So what should a shopping centre owner be looking at when it comes to property performance and tenant occupancy? Here are four of the most important facts to investigate before a property purchase in shopping centres today. https://lnkd.in/gBm_nV7J

While many U.S. malls face anchor store closures and empty parking lots, some are finding new life by becoming housing. Real estate developers are building housing inside of or next to shopping malls as department stores like Macy’s, JCPenney and Sears shrink or cease to exist. At least 192 U.S. malls planned to add housing to their footprint as of January 2022. Dozens of apartment projects at malls are underway in California, Colorado, Florida, Arizona and Texas. The trend not only helps to chip away the housing shortage in the U.S., but also brings people closer to the remaining retail and restaurant spaces in shopping centers.

https://lnkd.in/g-PpDaAh Theoretically, putting retail options inside a transit stations makes a lot of sense - daily, a captive audience of tens of thousands of passengers, each of them a potential customer. Yet, the success of such retail can be hit or miss. Interesting NYT article highlights the current challenges of transit-related retail, particularly subterranean retail, in NYC. #cities #citiesforpeople #senseofplace

Inside the latest issue of Shopping Center Business ⤵ High Costs, High Demand Defines Today’s Retail Reality Many of California’s retail spaces are still sought after by tenants, but the high-cost environment proves challenging when it comes to making actual moves — whether you’re a tenant, landlord or investor.  By Nellie Day; insights from – Brad Umansky, CCIM, Progressive Real Estate Partners; Scott Agajanian, City of Murrieta; Chris Premac, Coreland Companies; Kimberly Wright, Riverside County Office of Economic Development; Todd Nathanson, illi Commercial Real Estate; John Hickman, NewMark Merrill Companies, Inc. Inside This Issue: ✴ Chicago Suburbs Shine Leasing and sales fare better in suburban areas, but downtown projects in the works offer a glimpse of a rebound.  By Kristin Harlow; insights from – Chris Bobowski, Cushman & Wakefield; Kathleen Brill, Cullinan Property; Rick Scardino, Lee & Associates Commercial Real Estate Services; Corrine Cecil, Brixmor Property Group; Marget Graham, Mid-America Asset Management Inc.; Mitchell Kiven, Marcus & Millichap; Brad Belden, Colliers. ✴ The Blessings of Bankruptcy Retail bankruptcies present an opportunity in an environment where occupancy is tight and supply is limited.  By Mike J., Big V Property Group ✴ Why Is Retail Vacancy So Low Across the U.S.? With little development of new retail space during the past 17 years and new uses leasing up available space, retail landlords have reasons for optimism, even in a period of high interest rates and persistent warning signs for the U.S. economy.  By Rudy Milian, CRRP, Woodcliff Realty Advisors, LLC Read the issue: https://lnkd.in/e8wD9Ntz #ShoppingCenterBusiness #Retail #CRE #CommercialRealEstate #Bankruptcy #RetailVacancy