Use restrictions—once rigidly dictated by anchor tenants—are undergoing significant transformations leading to new opportunities for retailers and landlords. Historically, retailers wielded considerable influence, often...more
Nearly 70 years ago the American shopping mall was born in Edina, Minnesota. Southdale Mall was the idea of the Godfather of the Shopping Mall, Victor Gruen. The Austrian-American architect immigrated to the United States in...more
Following a continued decline into pessimism, retail may be coming back from the bottom of the cycle, according to the latest Allen Matkins/UCLA Anderson Forecast California Commercial Real Estate Survey. The current view is...more
The COVID-19 pandemic abruptly changed what people need from real estate, whether it be a concert venue, a strip center, or a shopping mall. Savvy retail real estate owners who, like the Music Hall patrons, adapt to tenants’...more
During the pandemic, some real estate owners are struggling. Retail assets (other than essentials such as grocery, pharmacy, and gas stations) may experience reduced rental income as tenants go out of business. Demand for...more
Though there has been consistently high occupancy and superior rate growth in the industrial market over the past several years, the deep economic recession has caused sentiment expressed in our latest Allen Matkins/UCLA...more
Top Tidjane Thiam ally Pierre-Olivier Bouee, Credit Suisse’s COO, has resigned in the wake of an internal probe finding that he “ordered the surveillance of the bank’s former wealth-management chief, Iqbal Khan, without...more
On August 9, 2019, New Jersey Governor Phil Murphy signed bill A1700 into law. The new law provides for the designation of shopping centers and office parks with significant vacancies as properties that qualify as areas in...more
It wouldn’t be the summer edition of Landmarks without our annual recap of the retail real estate industry’s largest event, ICSC RECon, which takes place every May in Las Vegas. Each year, RECon serves as a barometer for...more
AGG’s Retail Team is excited for another meeting and event-packed ICSC RECon next week. Last week, the American Bar Association’s Real Estate Litigation Section published this timely article from AGG Retail Team Co-Leader...more
Retail follows rooftops. Few real estate adages are more axiomatic. Increasingly, however, the reverse is becoming true, and rooftops, or residential uses, are cozying up to retail....more
ICSC hosted the New England Conference and Deal Making event at the John B. Hynes Veterans Memorial Convention Center last week, from July 16-18. ...more
In addition to the decorated trees and looping tracks of “White Christmas,” last year’s holiday season featured one account after another of the retail industry’s impending doom. But, there are a few contrarian voices out...more
Don’t believe everything you read about retail commercial real estate (Retail CRE). If you just looked at the headlines, then you would see that, since reaching a peak of 146.51 on July 25, 2016, the Dow Jones U.S. Retail...more
Retail real estate owners and operators are loathe to use the expression “retail apocalypse” in describing the current state of the market, but they cannot ignore the seismic changes affecting the industry due to a myriad of...more
Exclusive use provisions are common in commercial leases, especially in large shopping centers with many tenants. An exclusive use provision essentially allows a tenant to use its premises for an intended specific use (for...more
The retail universe is well aware of the hype that it is only a matter of time until brick and mortal retail succumbs to its online competitors. However, despite the “doom and gloom” we generally see in headlines, retail has...more
A recurring theme of this blog is that e-commerce, mobile devices, and evolving technology are changing the retail landscape. It seems that technology shifts are also poised to change the retail streetscape. More...more
We know from our high school history lessons that large scale public shopping centers have been around since the days of the Roman Empire, if not before. The fabled open air markets of cities like Istanbul and Damascus still...more
With seemingly all of the country’s attention focused on Washington DC lately, we snuck out of the District and across the Potomac River to National Harbor last week for ICSC’s 2017 Mid-Atlantic Conference and Deal Making....more
If you are involved in commercial real estate, especially if working with landlord clients, you’ve likely had a chance to work with retailers in creating a unique lease for a pop-up shop. These novel concepts are popping up...more
The 2016 ICSC Law Conference was held last week at the Diplomat Resort in Hollywood, Florida. Attendance was very strong this year, with over 1425 lawyers, paralegals, lease administrators, brokers and other retail real...more
Pop-up stores or “flash retail” have graduated from passing trend to popular practice. Historically utilized for the sale of seasonal products (think temporary stores that only sell Halloween costumes), the pop-up has evolved...more
Shopping centers in Florida—and across the country—are increasingly facing financial stress due to factors such as Internet commerce and rent pressures. Rents generated from a shopping center are usually pledged as...more
Despite how it may sometimes seem when in the throes of negotiating a lease between a shopping center landlord and a retail tenant, the overarching goals of the two parties are aligned. Both parties want the tenant to be...more