Locate’s Post

In our latest alert, Travis Jeffries discusses the challenges and opportunities in reletting space vacated by major tenants. With major brick-and-mortar retailers like 99 Cents Only, Bed Bath & Beyond, and Party City all filing for bankruptcy since the beginning of 2023, and potentially more on the horizon, here are some important things to consider. #retail #cre #brickandmortar

Columbus' retail scene is hotter than ever! 🔥 Here’s a breakdown of some trends I have seen: -Tight Market: Inventory is scarce, leading to positive net absorption & rising rents especially exhibited in primary submarkets/sectors (Dublin, New Albany, Grandview, Grove City, Hilliard, Lewis Center, etc.). 📈 -Experiential Retail: With large store closures and bankruptcies of BB&B, Party City, Rite Aid, (Big Lots potentially imminent), etc. junior and big box space is being absorbed with not only the traditional backfills, but also experiential users like pickleball concepts and golf simulators. -Smaller Format/DT Only: Significant inflow of small format users that can fit on small and/or unique parcel sizes. Scooters, 7 Brew, and Dutch Bros are examples. -Culturally-inspired Franchise Concepts: Juice bars, coffee shops, smoothie concepts, mochi, and more are becoming more prevalent in supply. -Development Challenges: Construction costs (specifically labor) continue to remain high, coupled with rising land costs, seemingly developers are having challenges in the free-standing construction space to make deals pencil. I am seeing a pivot to multi-tenant strip retail with rents ranging from $45-55/SF/YR NNN. What other trends are you seeing in the Columbus market? Let's chat! 💬 #ColumbusOhio #Retail #RetailLeasing #RealEstate #CommercialRealEstate #RetailTrends #ExperientialRetail #MarketTrend

🔔 San Diego's retail market remains robust! Despite the recent closure of 99 Cents Only stores, the availability rate is at a low of 4.7%, one of the lowest in 15 years. Small-box spaces are in high demand, making up over 50% of the leasing volume. Meanwhile, service and food-and-beverage retailers are expanding their footprint, now representing nearly 45% of leasing activity. However, big-box spaces are seeing less action, with limited availability for high-quality spaces. 🏢💡 For more details on this, check out the full article: https://lnkd.in/gquFnKH9 (Note: Article is behind a Members only login). Whether you're looking for a commercial property, or your next home, we're here to help guide you through the process - contact us today! AJ George DRE# 01353648 commercial@ajgeorge.com 858-598-3589 AJGeorge.com . . . . #AJGeorgeResimercial #ResimercialRealEstate #ResimercialRealtor #RealEstateUpdate #RealEstateNews #RetailRealEstate #RetailLeasing #SanDiegoRealEstate #CommercialLeaseSpace #CommercialRealEstateMarket #SanDiegoMarketTrends

Has this happened in your retail shopping center? With retail space being so scarce, tight labor conditions, and high costs, some tenants may sign ✍️ a lease and pay their rent but not open or choose to operate continuously. 📌 From the tenant perspective, this can make sense but there are implications for the landlord as well! Despite the tenant paying their rent, the center’s other tenants and the landlord will still be impacted by an opportunity loss: ▪️ Co-tenancy provisions can kick in ▪️ Loss of percentage rent revenue ▪️ Shoppers may be put off by empty space ▪️ A seemingly abandoned, shabby space can bring down the overall attractiveness of the center In this great article by Daniel Villalpando at Cox, Castle & Nicholson LLP, Daniel offers landlords the following remedies: ▪️ Give the tenant extra time to open before remedies take effect. ▪️ Require the tenant to at least open for one day. ▪️ Make sure the tenant is required to perform all of its other obligations under the lease. ▪️ Give yourself the right to “recapture” the premises. ▪️ Don’t let a tenant’s right to “go dark” impact the economics of your deal. Read the article here: https://bit.ly/3Q8pBqD #TSCG #CREtail #RetailStores #CRE #Retail

Discover how mall owners are completely reinventing their spaces, learn about Foot Locker's big move to St. Petersburg, and find out which fast food chain is coming to Parrish. Read all about it in this week's #LQCRE #TampaBay #LQTPA #Retail #News Brief. https://buff.ly/47fpxg4

A great article giving insight into the change in landscape affecting Retail Destinations up and down the country, and how the Building Consultancy Teams at Workman LLP are uniquely placed to support our Clients breathe new life into their existing assets. Workman LLP #buildingsurveying #contractadministration #projectmanagement

LasVegasRetail.com is now available for acquisition. Here are a few ways to develop this asset: 1. Local Retail Directory Provide a comprehensive listing of retail stores in Las Vegas, including categories, locations, hours of operation, and customer reviews. 2. Event and Promotion Hub Feature upcoming sales events, promotions, and special offers from local retailers, helping consumers find deals and boosting store traffic. 3. Business Resources Offer tools and resources for local retail businesses, such as marketing advice, industry news, and networking opportunities to support growth and development. 4. Commercial Real Estate Listings Provide a platform for listing available commercial retail spaces in Las Vegas, including detailed property information, leasing options, and contact details for real estate agents and property managers. #vegasretail #lasvegasretail #retail #realestate #shopping #domains #sunflowerdomains

In Detroit, retailers continue to display a preference for multi-tenant and mixed-use spaces as redevelopments like the former Northland Shopping Center in Southfield attract big leases, even years before opening. What do you think are the driving factors for this? #cre #commercialrealestate #realestate #retailrealestate

Stores move from time to time. Sometimes it’s a positive thing – your business is so successful you’ve outgrown your original space. Sometimes, it’s because your old neighbourhood is on its way out, and it’s time to jump ship. Whatever the reasons, you’ve got a lot to consider. Silverman Consulting can help you plan a retail store relocation sale to make the transition to a new location much easier. #Retail #StoreRelocation #Liquidation #Change #Sale #SilvermanConsulting To learn more visit: https://lnkd.in/gxuYh2_u

On Tuesday, industry leaders gathered at Bisnow's Dallas-Fort Worth Experiential Retail & Mixed-Use Conference for a look at the latest projects, players, and topics shaping the DFW market -- including Prism Places, Inc. Founder & CEO Stenn Parton. 📈 A major point of discussion surrounded average retail rents in DFW increasing annually since 2020, with researchers forecasting a fourth consecutive year of rent growth above 2% in 2024. However, panelists urged developers to stay in touch with new concepts & trends and to adjust their tenant mix accordingly in order to compete in high-growth markets such as this. “It is a relentless pursuit, every day, to create an experience where your customers and guests actually want to show up," Stenn says. Read more about the future of commercial real estate in this evolving market, and the ways in which Stenn and other industry leaders plan to lead the way below. ↓ Bisnow, Olivia Lueckemeyer City of Mesquite, Kim M. Buttram, CEcD Stellar Development Company, Steve Graham, P.E.  Trademark Property Company., Stephany Ruiz Tyler Alley Weitzman, Robert Young Lincoln Property Company., Jim Dillavou #CRE #ExperientialRetail #DFW https://lnkd.in/gENJrYYu