Weekend Reading for the Commercial Real Estate Industry - November 29, 2019
Written by Brent Carnduff | November 29, 2019
Happy Black Friday! Hope you had a wonderful Thanksgiving! Following are the articles that caught our attention this week - enjoy!
- Malls are having to reinvent themselves
- Strong investment activity continues in Colorado's Front Range
- Shopping's shifting landscape
- How LA's malls are trying to draw more visitors
- Boise, Idaho continues to grow
Malls are Dying. The Thriving Ones are Spending Millions to Reinvent Themselves by Abha Bhattarai on the Washington Post
. . . in the past decade, as shopping dollars migrated online and a parade of well-known retailers toppled, the malls that didn’t evolve fast enough stumbled into a devastating cycle of dwindling traffic, lower sales and disappearing storefronts. One in four U.S. malls is expected to close by 2022, according to a 2017 report by Credit Suisse.
Those that are thriving are spending millions reinventing themselves as integrated lifestyle hubs — adding yoga studios, medical clinics and microbreweries — populated with more upscale shops.
Driving Forces Behind Private Capital Investment in Colorado's Front Range by Parker Brown on the Colorado Real Estate Journal
. . . retail across the Colorado Front Range continues to strengthen. The market has recorded year-to-date positive net absorption of more than 625,000 square feet, nearly double the amount posted though third-quarter 2018, while new development activity remains disciplined with 709,000 sf delivered year to date.
Popular growth concepts such as quick-service food, entertainment and boutique fitness have continued their expansion throughout the market while larger, mixed-use developments such as Basecamp at Market Station and McGregor Square begin to enhance the city’s urban retail landscape. Rent growth also has continued, with average triple-net lease rates at $19.56 per sf, up 3.5% year over year.
6 Major Ways that Shopping has Changed Over the Last Decade, From the Death of the Mall to Virtual Dressing Rooms by Shoshy Ciment on Business Insider
In the last decade, shopping has gone through a serious evolution that was in no small way impacted by the rise of e-commerce, Amazon, and augmented and virtual reality, as well as the decline of the department store.
Stores and brands are being propelled into a new era of shopping, one where brick-and-mortar stores must adapt to survive.
LA Malls Work to Win Back Holiday Shoppers by Rachel Uranga on the Los Angeles Business Journal
Malls across Los Angeles County are going all out this holiday season, offering a mix of celebrities, cocktails and parties in a bid to lure back shoppers who have abandoned brick-and-mortar stores in favor of online shopping.
Boise, Idaho has Been Called the Best Place for Millennials to Live in the U.S. by Katie Warren on Business Insider
I recently spent four days in Boise exploring the city and talking to business owners and residents. As someone who lives in Brooklyn and works in Manhattan, I was curious to get a feel for Boise’s downtown and see what kind of lifestyle it offers for big-city transplants. After four days, I can, for starters, say this: Boise does not disappoint.
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Read Past Editions
Weekend Reading for the Commercial Real Estate Industry - November 22, 2019
Weekend Reading for the Commercial Real Estate Industry - November 15, 2019
Weekend Reading for the Commercial Real Estate Industry - November 8, 2019
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