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January 9, 2013

  Top Story 
  • Retail vacancy rates continue to edge down in Q4
    Vacancy rates for retail centers edged down to 8.6% in the fourth quarter of 2012, a dip of one-tenth of a percentage point from the previous quarter, according to Reis. Vacancy rates in this asset class continue to drop, having declined five quarters in a row since the third quarter of 2011, when they hit 9.4%. The Wall Street Journal (1/8) Email this Story
  Industry Tracker 
  • Bond Street merchants move up to find more selling space
    Luxury brands including Chanel and Christian Dior are converting the office space above their stores on London's Bond Street into additional retail space. With retail space on the high-end street in high demand, others including Victoria's Secret are negotiating for Bond Street space farther from the core shopping area. Bloomberg Businessweek (1/9) Email this Story
  • GGP eyes expansion options at Beachwood Place
    General Growth Properties is seeking approval to expand its Cleveland-area Beachwood Place retail center. The center has lost four potential tenants to nearby competing shopping centers for that reason, according to James Heller, of KA Architecture. There are no definite plans to expand but GGP is looking to start the process. Sun News (Cleveland) (1/7) Email this Story
  • Simon, IMI partner to own and operate two retail centers
    Simon Property Group has formed a joint venture with Institutional Mall Investors to own and operate two retail properties, one in Illinois and one in California. Each company has a 50% stake in the venture. The properties are Woodfield retail center and The Shops at Mission Viejo. Nasdaq.com (1/8) Email this Story
  Retail News 
  • Off-price fashion chains gain ground
    Off-price retailers including Ross, TJX and Stein Mart reported strong holiday sales, a trend likely to prove challenging for department stores that sell the same styles at higher prices, say some retail executives. The retailers won fans in greater numbers as the recession spurred consumers to become more frugal, said Eric Freiberg, CEO of online jeweler SweepStreet. The Wall Street Journal (1/8) Email this Story
  • Did deeper discounts drive down gift card sales?
    Consumers had more time to shop this holiday season, and many found better-than-expected deals at the stores, two trends that likely led to lighter gift-card sales this season. Some, including Taubman Centers CEO Bill Taubman, say the decline may be permanent, as shoppers look to do less with plastic and more with mobile. CNBC (1/8) Email this Story
  Business Best Practices 
  • 5 ways to hang on to your vacation glow
    Posting photos of your vacation around your office and making sure to take small breaks in your first days back are good ways to ease back into the work routine after time off, business and life coach Johshua Zuchter says. "Otherwise, whatever [stress-relief] you gained from your vacation is lost in the first day," he says. Entrepreneur online/The Daily Dose blog (1/7) Email this Story
  News from ICSC 
  • ICSC University of Shopping Centers
    The ICSC University of Shopping Centers is the most complete retail real estate educational program available. Held on the campus of the Wharton School of the University of Pennsylvania in Philadelphia March 4 to 6, 2013, this is the largest annual educational event offered by the ICSC. A distinguished faculty of over 80 industry leaders and experienced practitioners, including a cadre of distinguished Wharton School Professors. Courses in three levels of study: Executive, Advanced, and Fundamental. Numerous networking opportunities. Sixty courses in subjects including Asset Management, Property Management; General Studies; Marketing; Leasing; Development, Design and Construction; Law; Finance; Retailing. Real-world examples and practical solutions make this a must-attend event.

    Participants can personalize their University experience. Attend as few as one class or as many as six. Attend any six courses for as little as $140 per class. For more information, go to www.icsc.org/2013UV or contact ICSC's Madison Gross at (646) 728-3461 or mgross@icsc.org. Email this Story
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  SmartQuote 
Memory is a complicated thing, a relative to truth, but not its twin."
--Barbara Kingsolver,
American novelist, essayist and poet


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