Vornado Realty Trust’s Post

The October issue of Shopping Center Business has arrived — see what challenges are impacting the Atlanta retail market ⤵ Fundamentally Strong, But ‘Challenging’ Atlanta’s retail market is defined by high rents, strong demand and obstacles to both sales and development that have stymied activity.  By John Nelson; insights from — Steve Triolet, Partners; Leo Wiener, Ackerman & Co.; Henry Poer & Scott Tiernan, CCIM, SRS Real Estate Partners; Michael Phillips, Jamestown; Greg Eisenman & Len Erickson, Franklin Street; Jesse Shannon, Branch Properties LLC; Don McMinn, Marcus & Millichap.  Inside This Issue: Von Maur’s Remarkable Makeover Von Maur embarks on a $100 million renovation plan to redefine its department stores for a new generation — and reinvest in the 152-year-old company’s signature customer service.  By Katie Lee; insights from Melody Wright, Von Muar. Placemaking: The Secret to Success Texas’ latest developments feature a common thread: a sense of place.  By Burdette Huffman, The Blue Ox Group Read the issue: https://lnkd.in/e8Eq5ZXD #Retail #Atlanta #COmmercialRealEstate #CRE

Downtown Cleveland is building momentum with its Retail Strategy, already implementing 9 out of 15 key recommendations to make the city center even more retail friendly. Highlights include: ➡️ 29 new storefronts opened downtown in 2024—virtually all small businesses. Efforts to attract more in 2025 will continue. ➡️ Exciting plans for the Gateway District: new retail, streetscaping, and accessibility enhancements. ➡️ 300+ events planned for 2025 to drive foot traffic and support local businesses. ➡️ A $750K allocation from the state capital budget for the Meet Me Here Park, encouraging downtown play and recreation in 2026. 🔗 Learn more: https://lnkd.in/gk_pyk5E #GreaterCLE #AllIn Downtown Cleveland City of Cleveland - City Hall Destination Cleveland

"Incoming opportunities in the urban core bolster recovery downtown." What are your thoughts on the Pittsburgh retail market? Let us know in the comments, and count on us to keep you informed. Read the full report here: https://ow.ly/IIUn50RlkCU #UrbanCoreOpportunities #DowntownRecovery #PittsburghRetail #RetailMarket #RetailTrends #MarketInsights

Downtown revitalization is a common theme for cities looking to drive economic and community growth, and Olathe, Kansas, is no exception. According to Olivia Acree, KSHB / KMCI / The EW Scripps Company, as the city partners with Retail Strategies to implement its Elevate Olathe plan, the goal is to transform the area into a vibrant retail and restaurant hub. Business owners like Douglas Frick of Park Street Pastry Company have been anticipating this kind of change for years, hoping for more traffic and activity during business hours. Investing nearly $50,000 in consulting services might seem steep, but as Jenn Gregory, President of Downtown Strategies, points out, it’s a key step toward “locking arms” with city officials to jumpstart real progress. However, a major concern for local businesses is whether these efforts will truly drive meaningful foot traffic. Events are being hosted, but more retail and daytime business activity is needed to create a sustainable economic shift. The question remains: Will Olathe’s vision for a revitalized downtown align with the needs of its local businesses? Only time—and engagement with the community at the upcoming kickoff event—will tell. https://lnkd.in/gJdJhPzX #HalifaxWest #WinTogether #capitaladvisory #MandA #restructuring #operatingadvisory #DowntownRevitalization #UrbanPlanning #SmallBusinessChallenges #EconomicGrowth #CommunityDevelopment

Director of Economic Development Charles Bichara reports that, in a groundbreaking multi-million dollar agreement, the City of Middleburg Heights and Meijer Inc. have reached a deal for the Michigan-based retailer to purchase a 15-acre parcel in the Southland Business District. Mayor Matt Castelli announced that Meijer will purchase the former Middleburg Heights Sears property with plans for a future 160,000-square-foot supercenter, with an additional 20,000-square-foot garden center, to bring back a one-stop shopping experience to Middleburg Heights. This project is in the early stages, and Meijer plans on submitting its development application for the site in the coming months.

Answer to Fridays Trivia Question-Bed Bath & Beyond and buybuy BABY with 12 former locations. Where is Ross Stores opening new stores. Good space is hard to find these days. We tracked Ross latest round of store openings. Ross new store openings reflect a tremendous amount of creativity in repurposing former dead retailer space into quality retail space Here’s what’s inside the numbers. • We tracked 42 new Ross stores and one dd’s Store that opened in October for almost a million square feet. • Only 7 percent was new development while the rest was leasing former anchor space or redevelopment of small shop space. • Former Bed Bath & Beyond and buybuyBABY represented 28 percent of the new space. • The state receiving the most store openings was California with 8 new stores and in second was Pennsylvania with 6 new stores • Former retailer space taken include JC Penney (3), Kmarts (2), and former Staples and Office Max spaces took four spaces. Link to Fridays Trivia question-https://lnkd.in/eqKPhskt

New York-based KPR Centers recently made a bold entry into Denver’s retail market with a $56.5M acquisition of a fully leased retail center in University Hills. Anchored by King Soopers/City Market and national brands like MARSHALLS LLC and PetSmart, this deal highlights the growing confidence in Denver’s booming population and commercial potential. While KPR’s focus is on retail, the same momentum is seen across Denver’s office and mixed-use sectors. At Tributary Real Estate, we see this type of strategic investment as a sign that Denver’s commercial real estate market is positioned for sustained growth, offering opportunities for savvy investors in all sectors, including office spaces. Read more about this acquisition and what it signals for Denver’s market in the Denver Business Journal article. Let us know your thoughts! 💬 #commercialrealestate #DenverCRE #strategicinvestment #retailandoffice #tributaryrealestate

Finally a true value-add deal! Excited to have Columbiana Station in the market, which offers rare upside in nearly 100K SF to lease up, 10 separate parcels for exit optionality and several mark-to-market opportunities. Our team looks forward to chatting about this one with you... CBRE’s National Retail Partners is pleased to offer the opportunity to purchase Columbiana Station, one of Columbia, South Carolina’s premier large format shopping centers anchored by PetSmart, Dick’s Sporting Goods, Michaels, Havertys, Planet Fitness and Regal Cinemas (Shadow). Columbiana Station is approximately 76% leased and presents an exceptional opportunity to add value through the lease up of 91,015 SF of space including two adjacent junior anchor spaces that can be leased separately or as a single suite, amounting to an estimated base rent increase of $1.2 M. CBRE projects 44% NOI growth (9.60% CAGR) over 5 years primarily through lease-up. The property is also comprised of 10 separate parcels, providing flexible exit or finance strategies. The property contains 374,753 SF of retail, restaurant and service uses in the heart of a 3.2 million SF, regionally dominant shopping hub with the top regional mall in the MSA. Additional national tenants at Columbiana Station include Bonefish Grill, DXL, Humana, Honey Baked Ham, and 5-11 Tactical. Mike Burkard Kevin Hurley Adam Russ Erin Varol Joe Morrison #NRPSE

H-E-B’s Strategic Expansion: New Dallas Store to Enhance Community Engagement 𝗞𝗲𝘆 𝗣𝗼𝗶𝗻𝘁𝘀 • New Dallas Store Acquisition: H-E-B has purchased a 10-acre site at Hillcrest Road and LBJ Freeway in Dallas for a future store. • Community Collaboration: The company plans to work closely with local officials and residents on zoning and planning to ensure the store meets community needs. • Ongoing DFW Expansion: This initiative is part of H-E-B’s broader strategy to increase its presence in the Dallas-Fort Worth area, including recent openings and planned stores in Frisco, Irving, Murphy, and the Mid-Cities. 𝗪𝗵𝗮𝘁 𝗜𝘁 𝗠𝗲𝗮𝗻𝘀 ✅ Strengthened Local Presence: The new Dallas store signifies H-E-B’s commitment to serving urban communities, providing convenient access to its products and services. ✅ Community-Centric Development: By engaging with local stakeholders, H-E-B aims to tailor the store to the specific preferences and needs of Dallas residents, fostering a sense of ownership and partnership. ✅ Regional Growth Strategy: This expansion aligns with H-E-B’s strategic efforts to solidify its footprint in the competitive DFW market, enhancing its ability to serve a growing customer base. Progressive Grocer | https://lnkd.in/g2xczJQv #Retail #Supermarkets #Grocery #DallasExpansion #CommunityEngagement

I say it all the time -- Storefront spaces are becoming more and more expensive and traditional retail won't work in many of those locations. Economic development leaders have to be ready to think differently about how they fill empty storefronts with the right tenants. Emily Badger's "The Ground Floor Window into What's Ailing Downtowns" is full of reflections from economic development pros-- including my own! Check out Emily Badger's write up here: https://bit.ly/4949Bgc