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February 8, 2013

  Top Story 
  • Retail centers post 3.6% increase in NOI in 2012
    U.S. retail centers cut expenses, grew sales last year and as a result, strengthened their net operating incomes by some 3.6% year over year, according to the ICSC and the National Council of Real Estate Investment Fiduciaries. ICSC Chief Economist Michael P. Niemira anticipates NOI will continue to improve this year as sales increase. SCT Newswire (2/7) Email this Story
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  Industry Tracker 
  • Blackstone Group to buy stake in retail portfolio
    Blackstone Group LP is buying a majority stake in a 40-asset retail portfolio from UBS AB property funds. The transaction is valued at $1.1 billion. Kimco Realty is UBS' joint-venture partner in the portfolio, and it will increase its stake to 33% from 18%. Bloomberg (2/6) Email this Story
  • Report: U.K. Baby Boomers to drive mall-based retail
    The over-55 set will be driving growth at U.K. shopping centers in the coming years, as retirement provides more leisure time and younger consumers continue to shift more of their shopping online, according to market research firm Conlumino. For mall developer Hammerson, the trend will drive changes including better parking and a significant increase in space dedicated to leisure facilities such as restaurants and cinemas. The Guardian (London) (2/7) Email this Story
  Retail News 
  • Retail buyers gear up for Fashion Week
    New York Fashion Week started Thursday, with retail buyers from high-end department stores including Saks, Neiman Marcus and Holt Renfrew keeping a keen eye out for fall trends likely to help boost sales of designer styles. "The brands which offer authentic, differentiated design are thriving, especially when the collections are well balanced from a lifestyle standpoint, novel, high quality and sensitive to warm climate," said Neiman Marcus specialty retail president Jim Gold. Women's Wear Daily (subscription required) (2/6) Email this Story
  • Payroll tax increase didn't hurt January sales: Retailers are reporting a 4.5% increase in sales for January, despite the payroll tax increase that trimmed workers' paychecks at the start of the year. Some factors may have mitigated the tax increase, according to the International Council of Shopping Centers, including a minimum wage increase implemented in several states. The Washington Post (2/7) Email this Story
  Business Best Practices 
  • Your best collaborators are people you dislike
    It can be a good idea to work with someone you hate because that person is sure to offer a different perspective that will help you learn something, and you won't be distracted with too much socializing, Suzanne Lucas writes. "If your relationship is purely business, if it's not working out, it's easier to part ways ... [T]he stress reduction from having purely business relationships is tremendous," she writes. Inc. online (free registration)/Evil HR Lady blog (2/6) Email this Story
  News from ICSC 
  • Seminar: Debt Workouts, Institutional Funds & Repositioning of Challenged Assets
    ICSC is rolling out a seminar intended for owners who are facing maturing mortgage debt for a retail asset, and for other high-level professionals who represent the lender, a mortgage broker or deal in the debt markets. Regardless of whether the asset is challenged or not, a refinancing or restructuring of debt calls for special handling. More important, refinancing a challenged asset, one that produces insufficient funds from operations to cover its debt service, can be extremely difficult to assemble. This is the reason ICSC created this fast-moving one-and-a-half-day seminar conveniently located in Midtown New York City. The seminar sponsored by The Wall Street Journal will include formal presentations, discussions, case studies, course materials, breakfasts and lunches, a cocktail reception and an ICSC certificate of completion.

    For more information, visit Debt Workouts, Institutional Funds & Repositioning of Challenged Assets or contact ICSC's Manager of Education, Jason Barnhart, at 1-646-728-3468 or Email this Story
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After you've done a thing the same way for two years, look it over carefully. After five years, look at it with suspicion. And after ten years, throw it away and start all over."
--Alfred E. Perlman,
American businessman

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