REAL ESTATE

Belk to make Juban Crossing debut this summer

BY Katherine Boccaccio

Denham Springs, La. — Belk will open a 75,000-sq.-ft. store in Denham Springs, Louisiana, near Baton Rouge, that will become the first department store anchor at the regional lifestyle center at Juban Crossing. The grand opening is slated for October 15.

The new, $7-million store will feature the latest retail design and décor for the Charlotte, North Carolina chain.

“The store will represent the best of the Belk brand and our modern, southern, style,” said Jan Clevenger, chair of the Belk Western Division based in Birmingham, Ala. “We look forward to providing the top brands, the best in service and a deep commitment to this community.”

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REAL ESTATE

Esri’s Tapestry Segmentation offers insight to changing population

BY Katherine Boccaccio

Redlands, Calif. — Esri announced the next generation of its Tapestry Segmentation system, which reflects a decade of analysis of major U.S. events such as the housing boom of the early 2000s and its long-term impacts on the U.S. population.

Tapestry, which provides accurate, structured classification of U.S. neighborhoods based on segmentation methodology and socioeconomic and demographic characteristics, uncovered current trends including reduced incomes, lower home values, and an increasingly diverse population. A steady shift in household types from traditional to nontraditional families and an aging population are also portrayed.

“Tapestry segments reflect both the stability of gradual change in a maturing population and the impact of big events like the Great Recession," said Catherine Spisszak, data products manager at Esri. "Though many segments are new in order to depict this change, most segments remain the same so users can easily transition to the next generation of the system."

Esri provides access to Tapestry data across the ArcGIS platform in reports, web maps, infographics, and data enrichment, so anyone can easily understand local markets.

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REAL ESTATE

Capri Capital Partners launches Capri Retail Advisors

BY Katherine Boccaccio

Chicago — Capri Capital Partners has formed Capri Retail Advisors, an affiliate that will focus on retail opportunities in underserved and evolving retail trade areas in strategically selected major U.S. metropolitan markets.

Ross Glickman, former chairman and CEO of Urban Retail Properties, has been named president and CEO of the new affiliate. Ken Lombard, former president of the Starbucks in-store entertainment division and also former president of Magic Johnson’s urban retail real estate development company, is chairman and chief investment officer.

"Ross and Ken possess a wealth of experience and exceptional expertise in the retail investment, development and property management arenas,” said Quintin E. Primo III, chairman and CEO of the real estate investment advisory Capri Capital Partners. “But both also understand the urban landscape, realize the significance of changing demographics and know how to craft projects tailored to diverse constituencies with changing, yet specific, wants and needs.”

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