Global development surging, Summit told

September 12, 2012 in Articles

Author: Staff of Shopping Centers Today
Publication: International Council of Shopping Centers

With roughly 30 million square meters (about 320 million square feet) of retail space under development around the world — equivalent to the combined total currently available throughout France, Germany and the U.K., notes global property adviser CBRE — there is plenty to talk about.

“Ninety-four percent of mall development in the past five years has taken place outside the U.S.,” Brad Hutensky, ICSC’s chairman, and president and principal of Hutensky Capital Partners, told the more than 1,200 delegates attending the Summit. “We all speak the language of retail.”

Last year saw the openings of shopping centers in 63 of the 180 cities CBRE surveyed around the world, and 50 of those centers went up in emerging countries; only five opened in West European cities.

 


Commercial Real Estate Remains Highest Rated Investment Alternative

August 30, 2012 in Articles

Author: Olivia Baeza Gellman
Publication: CCIM
Press Release
PRESS RELEASE
Posted August 30th 2012

Despite declining economic conditions, sector provides long-term stability, according to CCIM and RERC data.

Despite the declining economy and investment environment, CCIM members report that investors continue to seek apartments, medical office buildings, land, and agricultural properties, according to CCIM Institute and Real Estate Research Corp.’s 3Q12 RERC/CCIM Investment Trends Quarterly. CCIMs also reported upticks in retail and office activity in isolated regions.


Cool Benefits of Solar-Reflective Surfaces for Shopping-Center Owners and Society Energy‐Efficient Pavement Creates Savings and Customer Appeal

August 16, 2012 in Articles

Author: Sheri Roese
Publication: ICSC - RETAIL PROPERTY INSIGHTS VOL. 19 November 2, 2012
This article by Sheri Roese discusses the "cool pavements" and they can positively affect shopping centers in times where temperatures are rising. Click the link to read the article.
Read the PDF

CIvic Center groundbreaking next week

August 16, 2012 in Articles

Author: Staff
Publication: Portland Press Herald

Civic Center groundbreaking next week

From staff reports

 

PORTLAND – The ceremonial groundbreaking for the renovation of the Cumberland County Civic Center will be held next Wednesday, Aug. 22 at 11 a.m.

 

click image to enlarge

An artist rendering of the exterior of the Cumberland County Civic Center, which is expected to undergo a $33 million renovation beginning in August.

 


Maine Mall retail space nearly full

August 9, 2012 in Articles

Publication: MaineBiz

The Maine Mall is closing in on 100% occupancy with the addition of new tenants J. Crew and Lush Handmade Cosmetics this month. The South Portland shopping mall has more than 1 million square feet of retail space and will be fully occupied once temporary retailers open for the holiday season, the Portland Press Herald reported.

Craig Gorris, the mall's manager, told the newspaper the two retailers will occupy a total of 6,000 square feet and will have a positive impact on sales and merchandising.

Nationally, the average vacancy rate for regional shopping malls in the United States was 8.9% in the second quarter of this year, according to the real estate research firm Reis Inc. That compares with an 11-year high of 9.4% in the third quarter of 2011 and a low of 4.9% in the second quarter of 2001, according to Reis.

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