REAL ESTATE

Cencor names marketing director for Denton mall

BY Michael Fickes

Denton, Texas — Cencor Realty Services has named Carrie Carter director of marketing for Golden Triangle Mall in Denton, Texas. Carter’s new responsibilities include creating and executing the mall’s marketing, public relations, advertising and social media programs. She will also support the mall’s current renovation through the development of marketing, collateral and presentation materials.

Carter’s experience includes posts as VP of marketing for the Dallas International Apparel Mart and event planner for Flying C Ranch in Sanger.

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News

Dick’s breaks bad in New Mexico

BY CSA STAFF

Dick’s Sporting Goods 2013 store expansion efforts are winding down, but not before the retailer opens a new unit next week in Albuquerque, N.M., and mixed martial artist Carlos Condit participates in grand opening festivities.

Throughout the weekend, beginning Friday, Oct. 11 and running through Sunday, Oct. 13, the retailer will host a variety of giveaways, including a free mystery gift card from $5 to $500 for the first 100 adults in line on Friday and Saturday, a free Under Armour Tech T-shirt for the first 100 people in line on Saturday and a free scratch and win card, where every card is a winner, for the first 100 adults in line on Sunday.

Condit will be on hand Sunday, from noon– 2 p.m. Condit, an Albuquerque native, is a former UFC Interim Welterweight Champion and a former WEC Welterweight Champion who has a career record of 29-7.

"Dick’s Sporting Goods is excited to become a member of the uptown community with the opening of our newest location," said Lauren Hobart, SVP and chief marketing officer. "With unsurpassed customer service and the best products in the industry, we are the equipment solution for athletes of all ages."

The Albuquerque location will be the retailer’s third store in the state of New Mexico and its 535th nationwide. The new store will feature more than 40 in-store services performed by Dick’s certified pros in golf, bike, hunting, fishing and team sports. The retailer will also be opening stores in Lake Charles, La.; Prescott, Ariz. and Issaquah, Wash.

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REAL ESTATE

Regional mall REITs take on e-commerce

BY Michael Fickes

New York — While online retail sales continue to rise, regional malls continue to generate profits, according to an SNL Financial LC analysis.

The U.S. Census Bureau has estimated that retail e-commerce sales for the second quarter of 2013 grew by 4.9% over the prior quarter to $64.8 billion, an 18.4% gain over the preceding 12 months. Still, e-commerce accounts for less than 6% of retail sales, according to SNL (www.snl.com).

Speaking at Barclays Global Financial Services Conference in September REIT executives discussed how e-commerce is affecting retail sales.

The executives noted that the application of sales tax to online retail is helping to equalize online and brick and mortar pricing.

Acknowledging that e-commerce will adversely affect some retail real estate, Simon Property Group Inc. CEO David Simon told the group that “the bigger and better assets are going to be more valuable.” He also noted that regional mall retailers could compete with same day delivery plans of online retailers.

Although total returns of regional mall REITs remain low compared to REITs overall, regional mall numbers support the optimism of REIT executives.

Macerich Co. saw its same-store NOI grow by 4.7% in the second quarter, continued SNL. General Growth Properties logged a 6.8% same-store NOI increase for the preceding 12 months, which pushed earnings $13 million ahead of expectations. General growth also reported a regional mall occupancy rate of 95.9% for the second quarter.

SNL also noted that Simon posted 5.9% in same-store NOI growth in the second quarter, thanks in part to a rise of nearly one percentage point rise in the REIT’s occupancy rate — to 95.1%. Other factors included a 14.1% surge in re-leasing spreads, a 3.6% increase in rent per sq. ft. and rising tenant sales.

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