Each Wednesday, The Wrap presents a compilation of recent noteworthy commercial real estate stories from a variety of publications. Below are links to five stories that caught our eyes in recent days.
• Reinventing the Mall by Understanding and Adapting to Evolving Consumer Behavior by Todd Starcevich for Shopping Center Business.
“For many property owners and their employees, using technology and data to understand consumer behavior presents a new way of thinking and doing business. Similarly, the changing relationship with retailers requires a shift in mindset. By being proactive and seeking out ways to boost traffic and sales, property owners can become a driving force – optimizing sales and improving tenant relationships for a positive impact on the bottom line.”
• Healthy Urbanism: A New Foundation for Place-Making by Brian Keith of Multi-Housing News.
“Over the past 40 years, innovative city planners and municipalities have recognized and fostered the connections between urban design, human health, and social interaction. Today, visionary multifamily developers are taking these concepts a step further: collaborating with creative planning and design partners and progressive municipalities to create multifamily and mixed-use developments that support healthy urban ideals, including physical activity, social interaction and community safety.”
• TOD Biggest Trend of Century, Says New Report by Real Estate Weekly.
“With publicly funded transit and transportation improvements often stalled by red tape, impact studies and lack of funding, transit oriented development has emerged as ‘the most substantial development trend of the early 21st century,’ according to Christopher B. Leinberger, chair of the Center for Real Estate and Urban Analysis at The George Washington University School of Business.”
• Retail Real Estate Fundamentals on Strong Growth Trajectory for Next Three Years: Economists by Shopping Centers Today.
“Regarding retail properties specifically, survey respondents expect a turnaround in 2014, with retail rental rates increasing by 2 percent by the end of the year, and then 3 percent in both 2015 and 2016. Regarding retail availability rates, survey respondents predict gradual improvements over the next three years, with rates expected to decline to 11.6 percent by the end of 2014, 11.2 percent by 2015, and 10.9 percent by 2016.”
• Incremental Progress by Brad Breton of Commercial Property Executive.
“As commercial property executives look to boost bottom lines by cutting energy consumption and in turn overall operating expenses, they are logically looking for cooperation from their tenant customers. Hence the inception of the so-called green leasing movement in recent years, as landlords look to formalize various aspects of tenancy arrangements that affect not just energy and water efficiency but other environmentally impactful elements, as well, among them carbon footprints, waste management and interior air quality.”