British Land’s Post

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

Empty Bed Bath & Beyond stores are getting a new lease on life as a diverse array of businesses take over. With the closure of Bed Bath & Beyond locations, Burlington Stores CEO Michael O’Sullivan highlighted their successful takeover of 44 spaces. This shift has seen a mix of traditional retailers like Michaels and Macy’s alongside unconventional additions such as indoor pickleball courts and trampoline parks filling up these vacancies. The closure of Bed Bath & Beyond stores wasn’t an isolated event but rather a symptom of broader trends. The landscape of retail has been dramatically impacted by the surge in online shopping and a scarcity of new retail constructions since the 2008 financial crisis. As a result, the adaptive reuse of existing spaces has become a strategic choice for retailers eyeing a presence in specific suburban areas, leveraging the appeal of smaller square footage, cost efficiency, and the changing habits of modern shoppers increasingly inclined towards online purchases. This shift isn’t just a change in facades; it's a testament to the resilience and adaptability of the retail sector, constantly reinventing itself to meet evolving consumer needs. For more information: https://lnkd.in/gQCh2b9C #BedBath&Beyond #Burlington #Macys #Michaels #Retail #AdaptiveReuse #MarketTrends #Pickleball #CommercialRealEstate #News #Article #CRENews #KeystoneCRE #BigBoxSpace #OnlineShopping #MarketShift

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.

Oh, now this has got us very excited! The biggest single store revamp Marks and Spencer has ever invested in, and it’s right on our doorstep at our local Fosse Park! As reported in Retail Gazette, the current store is expanding to a whopping 100,000 sq. ft allowing space for more product lines within their food, clothing, homewares, and beauty categories. Hoping to create a ‘brand defining’ store here in Leicestershire, we cannot wait to keep an eye on the developments over the summer and be one of the first to explore the shopping experience once all is complete in the autumn. This expansion not only signifies the brand’s healthy position, but is also evidence of the growing popularity, strength, and transformation of out-of-town retail parks into major shopping and leisure destinations. Fosse Park, whose tagline is Shop, Eat, Enjoy, note they are ‘seeing visitors come from further afield, with footfall growing year on year’. With brand expansions like M&S, we’re sure this trend is set to continue, and we can’t wait to see what’s in store next! Watch this space for more… #marksandspencerstoreexpansion #marksandspencerfossepark #fossepark #retaildestinations #leicestershopping #retaildesignagency https://lnkd.in/eawYw4Rm

More Exciting #Retail News for #BuckheadAtlanta - Two key takeaways: 1. #Buckhead becoming the first #Georgia location for #luxury retailers, 2. Revitalization of #PaceFerryPlaza, #PhippsPlaza and #LenoxMall https://lnkd.in/g-c9nRTi

Embracing Change: Why Closing Stores Can Be a Good Thing   In the fast-paced world of retail, knowing when and what to close is just as crucial as opening new stores. At Rue Madame Fashion Group (RMFG), we believe that every store is a delicate alchemy—a balance of location, brand, mall, and clientele. This year, we are making strategic decisions to close 4 stores, but it's not a setback; it's an opportunity to refine and optimize our presence.   Often, leaders shy away from discussing store closures, viewing them solely as negative outcomes. However, at RMFG, we see them as a natural and positive part of our growth strategy. A well-timed store closure can enhance overall performance, streamline operations, and allow us to focus resources on more promising ventures.   This year is particularly dynamic for us: - **Opening 13 new stores**: Expanding our footprint and bringing our curated fashion closer to you. - **Refitting or moving 8 stores**: Enhancing your shopping experience with fresh, modern spaces. => **in total Managing 25 projects**: Including these openings, closures, and renovations, ensuring we stay agile and responsive to market demands.   We're committed to creating vibrant, welcoming spaces that resonate with our customers. Whether it’s a new store in an exciting location or a refitted store in a familiar one, each decision is made with our clients in mind, aiming to deliver the best shopping experience possible.   #RetailStrategy #BusinessGrowth #StoreDevelopment #RueMadame #Clémence #RetailInnovation #CustomerExperience   Alan Zagury Rue Madame Fashion Group

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

Another example of Brixmor’s ongoing transformation story that drives traffic for tenants, value for investors and thriving centers that become part of consumers’ daily lives. Shout out to Leigh Paull, AIA, LEED AP, Stephen Trommsdorff, Susan Martinez, Jeff Bell, Christopher Ralph and Josh Durigan. Brixmor Property Group #ourcenterisyou

Luxury brands preferred high street retail locations over shopping malls to open their stores during the last calendar year, according to a CBRE and PHDCCI report. Click on the link below to know more... CBRE | PHD Chamber of Commerce and Industry | Anshuman Magazine #retailnews #retailtrends #retailsector #retailindustry #retailing #retailresults #retailupdates #businessnews #retailgrowth #retailsectornews #retailbusiness #ir #IndiaRetailing 

🔹🔹🔹 Exciting Shift in Los Angeles Luxury Retail Market! 🔹🔹🔹 Devin Klein, JLL’s Los Angeles’ Luxury Retail Expert shares the changing dynamics of high-end retail in the area. Securing prime store locations on the most sought-after streets in Los Angeles has become increasingly challenging for luxury retailers. Traditionally, Rodeo Drive, Melrose Place, and Robertson Boulevard have been the go-to destinations for high-end brands. However, due to evolving consumer preferences for a blend of digital and physical commerce, competition for these elite locations has intensified. Neighborhoods in #LosAngeles, such as the Arts District and Downtown, are becoming popular alternatives for luxury retailers. As these areas undergo revitalization, they offer a fresh canvas for innovative retail concepts, providing exciting opportunities for brands to tap into new demographics and capture local flair. 🔗Click to read the full article: https://co.jll/3H5OQ7J #RetailTrends #CREInsights #LuxuryRetail #ConsumerBehavior #RetailRevolution