Ariane Zagury’s Post

CRE Terms: Sizing Up Retail Ask any group of commercial real estate (CRE) professionals which sectors have shown the most adaptability in the face of change over the past few years, and an answer that’s sure to crop up more than once is retail. Despite economic pressures, many retailers are expanding their footprint, moving to new locations and adapting their business models to accommodate interest in both digital offerings and brick-and-mortar stores. Perhaps most surprisingly, many brands are also going ahead with big projects and luxurious new store concepts designed to tempt an increasingly selective consumer market. Luxury brands like Hermes and Tiffany & Co., for example, have announced new flagship stores in the past year. With all that in mind, let’s define the terminology that real estate professionals use when describing some of retail’s biggest (and smallest) offerings. Read the entire article - https://ow.ly/fO8L50PW6qu

Scoop: Amid rebranding effort by owners, two more #luxury brands are OUT at the ex-Westfield mall, which now goes by Emporium Centre San Francisco. The mall formerly known as Westfield San Francisco Centre is wisely moving to a new name celebrating the beautiful ‘bones’ of the property…both physically and historically. In the meantime, more tenants drop like flies. These two high-end French cosmetics brands are the latest — and they have another interesting trait in common w/r/t #SanFrancisco. Before you cry “#doomloop” note that in SEPHORA’s case, they’re still hanging onto their store literally across the street at the cable car turnaround, and in #BXP’s Embarcadero Center (for now). L’OCCITANE Group #luxury #retail #cosmetics #mall #shoppingcenter #retailtrends Trident Pacific Real Estate Group, Inc. JLL #bayarea San Francisco Business Times https://lnkd.in/gGDezTed

I enjoyed speaking with Larry Getlen about the trend for retailers opening smaller stores. It’s not just large department stores opening smaller format stores, but that is certainly popular. Also, available locations close to both suburban and urban consumers are tight, especially in more high-traffic lifestyle centers. There are numerous advantages and opportunities for retailers in smaller stores to more effectively manage the assortment, inventory, staffing, and last but certainly not least, the consumer experience. #retail #stores

More than 50% of malls still have legacy anchors that no longer draw the same level of traffic as they once did. These anchors were highly effective during the Industrial Revolution era, but they can no longer meet the needs of modern consumers who demand experiences, convenience, and flexibility. To remain relevant, mall spaces must engage communities and offer what consumers want. For example, converting malls into lifestyle centers with restaurants, daycares, dog care facilities, parks, gyms, and other engaging features would make them more appealing to visitors. Many mall retailers lack differentiation and primarily use their spaces as distribution points, effectively competing with Amazon. However, shopping needs to be fun, unique, personalized, and enjoyable. Most people are no longer excited to visit stores like Macy's or J.C. Penney.

Retail space continues it's evolution to smaller footprints. How will the larger spaces allow for continued growth moving forward. Solutions in CRE are the key. #cre #expansion #retailrealestate #retailleasing #development #economicdevelopment https://lnkd.in/er28FGpE

CRE Terms: Sizing Up Retail Ask any group of commercial real estate (CRE) professionals which sectors have shown the most adaptability in the face of change over the past few years, and an answer that’s sure to crop up more than once is retail. Despite economic pressures, many retailers are expanding their footprint, moving to new locations and adapting their business models to accommodate interest in both digital offerings and brick-and-mortar stores. Perhaps most surprisingly, many brands are also going ahead with big projects and luxurious new store concepts designed to tempt an increasingly selective consumer market. Luxury brands like Hermes and Tiffany & Co., for example, have announced new flagship stores in the past year. With all that in mind, let’s define the terminology that real estate professionals use when describing some of retail’s biggest (and smallest) offerings. Read the entire article - https://ow.ly/EGkH50PW6qt

"Macy’s 🏬 and J.C. Penney 🛍️ have two very different real estate strategies 🏢💰 One has a downsizing plan that includes profitable stores 📉👍 The other plans to keep — and possibly open — even low-volume stores 📈🤔 What’s going on? 🤷♀️ #RetailStrategy #RealEstate #BusinessModel" by Retail Dive about Macy's

Big Retail Moves in NYC in 2024! Retail is an important feature of most neighborhoods in NYC and proximity to shopping, restaurants etc factor in to choosing where buyers & renters want to live. While many NYers are mourning the departure of retailer #BedBathAndBeyond in their neighborhoods, there is good news, especially for home improvement fanatics! #HomeDepot has announced that it is moving from its location near Bloomingdales on Third Ave, into the expansive retail space vacated by BB&B on First Ave /61st St & plans to open sometime next year. Bed, Bath & Beyond has permanently closed their retail outlets and has chosen to continue as an online retailer. 2023 was a painful year for many retailers, but the new year is bringing encouraging news, particularly among the luxury brands. The owners of #Gucci have just 715-717 Fifth Avenue, a retail property for a whopping $963 million — and it could mean giving the boot to rival fashion house #Armani from its flagship location. Armani, on Madison Ave has already made a bold move and is a part of a new luxury residential development offering bearing the brand’s name! https://lnkd.in/eyMiUM-d #douglasellimanrealestate #retailrealestate

Macy's announced a "BOLD NEW CHAPTER" In doing so, Macy's plans to "Focus resources by closing approximately 150 underproductive locations, including approximately 50 by the end of the fiscal year, and prioritizing investment in approximately 350 go-forward locations and the continued expansion of small-format stores." In addition, Macy's sees and opportunity to accelerate their growth in the luxury segment through Bloomingdale's and Bluemercury: "Macy’s, Inc. plans to take advantage of its leadership position in the luxury market, where Bloomingdale’s and Bluemercury have been outperformers within the Macy’s, Inc. portfolio and across the broader luxury landscape, by further growing its store fleet and digital presence. As part of the strategy, approximately 15 Bloomingdale’s nameplate stores and at least 30 new Bluemercury stores, along with roughly 30 Bluemercury remodels are anticipated to be opened in new and existing markets over the next three years. https://bit.ly/42WDWeJ

🛍 Macy's is set to close 150 underperforming stores. 🌟 What does this mean for the crown jewel of its real estate porfolio, Herald Square? ☎ I had the chance to chat with Tony Spring on the state of the company, future growth plans and how its real estate, including this iconic location, fits into the store's portfolio, and much more. ➡ In my latest for Yahoo Finance: