Shopping Center Business

JUL 2018

Shopping Center Business is the leading monthly business magazine for the retail real estate industry.

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FROM THE PUBLISHERS Volume 23, Issue 3 July 2018 www.shoppingcenterbusiness.com FRANCE MEDIA, INC. Jerrold France Chairman/CEO Publisher Scott France President Michael Jacobs Chief Financial Officer Jaime Lackey Vice President/ Marketing & Digital Strategy Randall Shearin Senior Vice President/ Editorial & Operations EDITORIAL Randall Shearin Editor-in-Chief Katie Sloan Associate Editor Camren Skelton Associate Editor Lynn Peisner Staff Writer Nick Topolski Graphic Designer ADVERTISING SALES Scott France Co-Publisher Craig McIntosh Media Advisor Ryan Nixon Media Advisor Robin Reimold Media Advisor Barbara Sherer Media Advisor/ Classified Ad Sales INTERFACE CONFERENCE GROUP Richard Kelley Senior Vice President Mike Jax Conference Producer Alicia Turlington Conference Manager Heather James-Wyrick Conference Coordinator India Wright Conference & Marketing Coordinator ADMINISTRATION Teresa Hennington Office Administrator Jim Clark Advertising Traffic Vally Smith Circulation Assistant For subscriber services, including change of address, please call or write to: SHOPPING CENTER BUSINESS Customer Service Department P.O. Box 47065 Plymouth, MN 55447-0065 telephone 1-800-869-6882 E-mail: scb@kmpsgroup.com or visit our subscriber services portal at: www.shoppingcenterbusiness.com SHOPPING CENTER BUSINESS (ISSN 1088-3339) is published monthly by France Publications, Inc., d/b/a France Media, Inc. © 2018 France Publications, Inc. Editorial and advertising offices are located at Two Securities Centre, 3500 Piedmont Road, Suite 415, Atlanta, GA 30305. Telephone (404) 832-8262. Facsimile (404) 832-8260. E-mail: scb @ francemediainc.com. Periodicals Postage paid at Atlanta, GA, and at additional mailing offices. POSTMASTER: Send address changes to SHOPPING CENTER BUSINESS, P.O. Box 47065, Plymouth, MN 55447-0065. Shopping Center Business is a registered trademark of France Publications, Inc. Subscription rates: USA 1 year, $79; 2 years $126; outside USA, 1 year $99 ($129 air mail delivery); 2 years $166 ($226 air mail delivery). Single copies are $10.00. The opinions and statements made by authors, contributors and advertisers to Shopping Center Business are not necessarily those of the editors and publishers. © 2018 France Media, Inc. To photocopy items from Shopping Center Business in quantities of 100 or less, authorization must be obtained from and a fee paid to the Copyright Clearance Center, 222 Rosewood Drive, Danvers, MA 01923, telephone (978) 750-8400. For quantities of more than 100, please contact Barbara Sherer, manager of special advertising, at (404) 832-8262. 2 • SHOPPING CENTER BUSINESS • July 2018 I t isn't easy to invent the future. Just ask retail designers and architects. They are being tasked to create physical environ- ments that will last long into the future, in a time when retail real estate is changing by leaps and bounds. The challenge, for many designers, is exhilarating. Rather than being asked to design boxes, they are being asked to create living environments, where consumers are entertained, engaged and comfortable. Since retail is changing, they are also being asked to design physical structures that are flexible and adaptable to whatever the future may hold — the most daunting aspect of their jobs. While our editors were interviewing more than 20 architects for our annual ar- chitecture and design article (which starts on page 26), several themes emerged. Quality was the first; consumers can get goods online now, so when they invest time visiting a center, they expect a quality experience. Inspired by top hotels, many retail real estate owners are upping their game on customer service and amenities, especially with common areas, to create a better shopping and dining experience for visitors. Always an industry buzzword, placemak- ing has moved to the forefront of design. Creating places that have meaning to peo- ple, and doing so in an authentic fashion, is not an easy task, especially when you are developing from the ground up. To- day, designers must also be conscious of human interaction in retail environments because people often visit centers for social reasons more than they do to buy goods and services. Anchor boxes have gone from being a keystone of the industry to one of the chal- lenges. While every center wants strong an- chors, the number of anchors needed is not as necessary as in the past. Architects and designers have been tasked with figuring out what to do with empty boxes. Besides subdividing them, they've been reimagining centers without boxes. As one architect put it, "the negative space between the retailers and activities now must take center stage." Parking is another area center owners are looking at to derive income. With ride- sharing, more public transportation and the dawn of autonomous vehicles upon us, there is a smaller demand for parking at many centers. Designers are being tasked with looking at parking fields and making new uses fit into these areas. As well, for newer centers, they are designing parking decks and lots that can be converted to other uses in the future. Lastly, technology is changing retail real estate, and not just through e-commerce. New LED display technologies are allow- ing center owners to take advantage of full-time marketing and advertising pro- grams, which also help better their own operations. Designers must incorporate these new features into properties, which can be no easy task. On the consumer side, smartphone technology is allowing easier wayfinding and creates a connection with consumers to centers. Social media, too, is playing a big role in center design. Also in this issue, we have area reviews on Detroit and Boston. Downtown De- troit is seeing a renaissance with retail and restaurant space after major reinvestment in its urban core. We recently sent an edi- tor there for a first-hand look. In Boston, major developments are taking place as job growth in the area continues. The Boston article is found on page 58, while our fea- ture on Detroit is found on page 62. We want to also remind you of Inter- Face Net Lease, which is being produced by France Media and our InterFace Con- ference Group on October 3. For more in- formation, please see the ad on page 13, or visit www.interfaceconferencegroup.com/ nl2018. SCB ® Inventing The Future Scott France Jerrold France

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