The rebound in the nation’s economy is boosting retail sales and spurring an uptick in the number of retailers seeking to expand their presence in existing markets or grow into new trade areas. However, the boom does have a downside for those tenants, as most are finding out.
The participating companies provide industry-leading solutions and services that aid retailers with the challenging task of navigating real estate. Specific areas where and these providers offer help include lease management, store growth and consolidation, portfolio management, strategic analytics.
X Team International, an international alliance of retail real estate advisors with expertise in more than 45 major markets throughout the U.S. and Canada, released third quarter transactional volumes totaling $746 million, bringing its year-to-date transactional volume to more than $2.24 billion.
Retail real estate services firm Levin Management has inked more than three dozen new leases, renewals and expansions totaling 277,000 sq. ft. during the past four months, announced Matthew K. Harding, president.
Variable Refrigerant Flow (VRF) zoning technology is transforming the way commercial buildings are cooled and heated. This smart, energy-efficient, and fully customizable HVAC technology not only provides comfortable air to occupants, but also opens design possibilities for architects and maximizes profitability for building owners. Mitsubishi Electric is leading the HVAC industry with its advanced VRF zoning solutions as America’s #1 selling brand in this market.
Mike George likes to say that his company is in the retail real estate information business. “Our clients buy, sell and lease retail real estate,” said George, principal and president of Oakbrook Terrace, Ill.- based Mid-America Real Estate Group. “Clients that buy and sell real estate rely on us for information that helps them make the best business decisions. When clients hire us to manage and lease shopping centers, they want our information-based decisions.”
Editor’s Note: The 25th annual survey of Fastest-Growing Managers surveys new domestic and international third-party management and leasing contracts obtained during the 2013 calendar year and ranks the top performers. As always, the measuring stick is square footage.
American Realty Capital Properties has acquired Cole Real Estate Investments for $11.2 billion, creating the world’s largest net lease real estate investment trust, with an enterprise value of $21.5 billion.
If there is one booming business inside the shopping center industry, it’s that of third-party management.
Shopping center management — whether you’re talking operational control, marketing programs and strategies, or leasing — is growing by leaps and bounds, as owners find alternative ways to fill the coffers when new construction is at a standstill.