Ring Concierge的动态

Great article on the success Burlington Stores, Inc. has had in recent years. Brings up what does new development look like for these junior anchors today... My take in the marketplace from our projects in the pipeline: -New ground up development is still very, very limited. -What is being built for junior boxes is less than 10% of junior box new store growth (so 90% is utilizing existing supply) and for some retailers it's even less than 5% #crazy -Of the new construction... 80% of our deals over 10k SF is in the 18k-23k size range which is great thing for owners since all the junior boxes have gone to a similar size (for now). That helps for efforts on leasing new centers but looking down the road - huge help for future re-tenanting. #juniorbox #CRE #development #retailisback https://lnkd.in/gFC_gT8Z

Today Macy's confirmed it will close two more #BayArea stores among the dozens of others it will shutter nationwide, mostly in the first quarter of 2025. The department store has closed or announced closures for at least FOUR locations since last year, with the latest additions at Marin County's The Village at Corte Madera and in Newark's Newpark Mall. It adds to the recent consolidation of its furniture gallery store in #Hillsdale - separate from the Macy's mall - and of course the historic #UnionSquare flagship in San Francisco, whose exact timeline depends on buyer interest for its real estate. But Macy's was also weeding out stores around the Bay Area for years before this, too: see #Novato, #SanFrancisco's Stonestown Galleria, #SanRafael plans executed or announced leading up to 2020. It also sold off its 260,000 sq.ft. men's building in 2016 (what became today's 100 Stockton, topped by Chotto Matte). #retailclosure #chainretail #departmentstore #macys #sanfrancisco #bayarea #marin #eastbay #newark #northbay

We are starting to see the consequences of the appetite to acquire Macy's by ARKHOUSE Management and Brigade Capital Management, LP for the underlying value of the famed retailer's real estate. Last December, the combined investor group submitted a proposal to acquire Macy's for $5.8 billion. Macy's board declined. The group has since sweetened the bid by $1.1 billion and is now offering $6.9 billion to acquire the Macy’s stock they don’t already own for $24.80 a share. That has sent the stock up. As a result of the initial offer, Macy's brought in real estate star power to its board (including two proposed by Arkhouse) and has devised a defensive strategy to monetize its real estate. One of the first dispositions is the 78,000-square-foot Macy's furniture gallery, which sits on a 4.6-acre site in south Miami-Dade County. It was sold to the University of Miami, according to records and real estate database Vizzda. In March, Macy’s sold its two store buildings in the Mall at Fox Run in Newington, New Hampshire for $16.25 million to Torrington Properties Inc., the Boston-based company that owns the mall and other major shopping centers in N.H. Macy's is working with SRS Real Estate Partners to market other properties. Up for sale is one store in Alabama, one in Georgia and six in Texas. These include the Macy's store at Town East Mall in Mesquite, just east of Dallas, an enclosed mall developed in 1971 by Sears affiliate Homart Development Company, and now owned by Brookfield Properties, and Fairview Town Center in a north Dallas suburb developed in 2010 by THE MGHERRING PROPERTY GROUP LLC and now owned by Lincoln Property Company. A sales brochure, circulated recently by Lee & Associates Commercial Real Estate Services, seeks $8 million for a Macy’s 15-acre department store property and $5 million for its 7.5 acre furniture store at Florence Mall in Florence, Ky. ?The mall was built in 1976 by Homart. In 2021, lenders took ownership of Florence Mall after its longtime owner, Brookfield Properties, defaulted on $90 million in CMBS debt. An ownership entity that includes Mason Asset Management, Inc. and Namdar Realty Group LLC bought the mall afterward for $38 million. Last February,?Macy's announced a plan to close about 150 underperforming stores in the next three years. About 50 locations will close on January 31, 2025, which is the end of Macy's fiscal year. As part of its initiative to focus on its best-performing stores, Macy's plans to monetize $600 million to $750 million of assets through 2026, primarily related to closures of stores and distribution centers, according to Macy's financial disclosures. The company owns almost 60% of its store locations, all held free and clear of mortgages.

Robert Ball and Matt Pridemore have teamed up with 11 former Badcock dealers to create the new retail business. They are transforming 30 former Badcock Furniture & More locations into new storefronts in five Southeastern states: Florida, Georgia, North and South Carolina and Alabama.

If you have an underperforming Kirkland's store in your shopping center, and you are looking for a replacement tenant, hold off. That store may soon convert to an over performing smaller version of the once leading retail chain in the home furnishings space: Bed Bath & Beyond. Kirkland’s is joining forces with Beyond Inc., formerly Overstock, which purchased the Bed Bath & Beyond brand out of bankruptcy and together they are planning to open the first five Bed Bath & Beyond neighborhood small-format stores in 2025, according to Kirkland's CEO Amy Sullivan. The new Bed Bath & Beyond stores will no doubt deliver sales per square foot performance that will substantially exceed the current average Kirkland’s store. What I like about the deal Beyond Inc. struck with Kirkland’s is that they could convert some of the underperforming Kirkland’s stores into small Bed Bath & Beyond stores, which finally revives the former popular brand in the brick-and-mortar space. This would be better than the deal Beyond cut with The Container Store, which just includes opening a department within the store to sell Bed Bath & Beyond merchandise.

Interesting read on the evolution of Burlington Stores, Inc. #retail #offprice #burlington #realestate #assortment https://lnkd.in/gfmUJDME

"Several new businesses are slated to open at Mayfaire's shopping centers this year, including Dave & Buster's, a new hotel and a range of other retailers. National clothing brand Aerie is expected to open in Mayfaire Town Center this winter, while clothing retailer J.Crew Factory and jewelry brand Kendra Scott are set to open stores this spring, according to Paige Coniglio, local leasing manager and marketing director with Mayfaire owner CBL Properties." https://lnkd.in/eGgzwCsF

A&G Real Estate Partners, LLC said it will auction 695 Party City store leases as the nearly 40-year-old retailer begins to wind down operations and hold going-out-of-business sales at its stores. https://ow.ly/rzS850UzoAX #retail #realestate

??? **Houston Real Estate Update: Macy's Closing Almeda Mall Location** ??? Breaking news for the retail and real estate landscape in Houston! Macy’s is set to close dozens of stores nationwide, including its location at Almeda Mall in Houston. This move could significantly impact the surrounding area by creating opportunities for redevelopment, introducing new businesses, and reshaping the community's retail dynamics. Large retail closures like this often signal change for the local real estate market—whether it’s converting spaces into mixed-use developments, introducing new retail concepts, or shifting the area’s residential appeal. If you’re thinking about buying, selling, or investing in property in Houston, understanding these market shifts is crucial to make informed decisions. Looking to make the most of these changes? The Alam Group is here to help navigate the current market trends and guide you in achieving your real estate goals. ?? Reach out today for personalized real estate advice tailored to you! #HoustonRealEstate #AlmedaMall #TheAlamGroup #TevasRealEstateGroup #CommercialRealEstate #RetailSpace #MarketTrends #RealEstateInvestment #HoustonDevelopment ?? [Read the full article here](https://lnkd.in/gQVdhq9w). Let’s talk about how this change could shape the future of Houston real estate—drop your thoughts below! ??

???????????? ???????????????? ???? ???????????? ???????????? ?????????????? ???????? ?????? ?????? ???????????? ???? ?????????? ???????????? ?????? ???????????????? As part of an ongoing development, Cadillac Fairview (CF) announced that retailer La Maison Simons, also known as Simons, will build a new store at Toronto’s Eaton Centre. Read More: https://bityl.co/QNub #lamaison #retailers #lamaisonrose #news #BusinessNews #NewsUpdate #businessnewsupdates #InsightsSuccess