Retailers’ demand for space is back, with the opening store count up for almost everyone, and with far fewer store closings being announced. Developers have dusted off their old site plans or put together all new deals—and this time, they mean it.
Real Points
Daily Reports on Commercial Real Estate
Articles by John Zikos
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RetailThe recently announced merger of Office Depot and OfficeMax is a reminder of how the office supplies category has lost ground in the traditional bricks and mortar format to online sales. The Chapter 7 filings of Circuit City and Borders Books, as well as the struggles Best Buy and Barnes & Noble have faced, also serve to remind us of the growing threat faced by retailers of certain categories.
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RetailThe good news is that there is a lot of deal flow in the retail sector. Tenants are becoming more active and the sales volume is high. With pending tax changes, there are a lot of year-end closings happening. The bad news is that it seems like every deal is brutally hard to get done.
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RetailA lot of new retail developments are popping up—on flyers. All the studies show that the delivery of new retail space across the country, even in Dallas-Fort Worth, will again be at or near 20-year lows in 2012. But I’m starting to read projections that say almost twice as much space could be delivered in 2013. Some estimates are as high as 3.5 million square feet.
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RetailMy 18-year-old son Nicholas interned for Venture Commercial this summer. When the internship wrapped up, I sat down with him to discuss what he had learned and observations he had made. It was interesting to see things from a fresh new perspective.
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RetailSomewhere along the way, we as a society seem to be losing the persistence that went hand-in-hand with the American dream. It was this get-the-job-done-whatever-the-cost mentality that helped make our country great.
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RetailEach May, retail brokers, developers, and tenants make an annual pilgrimage to Las Vegas for the International Council of Shopping Centers’ deal-making convention. This year, it appears the good mood is back.
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RetailThese days, brokers are working harder than ever, in the office early in the morning and late in the evening. Part of it is due to the fact that deals are still hard and take a long time. But the other part—the part I like—is that there is more going on in the market.
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RetailI’ve taken in my annual dose of this year’s forecasts, and the outlook for retail real estate is good. Brokers want to broker deals, tenants want to open new stores, developers want to build new shopping centers, and lenders even want to lend money—at least they say they do. The real question is, “How do we get there?”
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RetailJunior box retailers started to talk about new deals this year, and by next year, I think they’ll mean it. As the calendar is getting ready to turn and 2011 is almost behind us, I eagerly anticipate 2012.
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