Shopping Center Business

MAY 2015

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

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FRANCE MEDIA, INC. Member, International Council of Shopping Centers Please recycle this issue of L E A D I N G T H E W AY T H R O U G H T H E 2 1 S T C E N T U R Y SHOPPING CENTER BUSINESS TM Jerrold France President/CEO Publisher Scott France Exec. Vice President Michael Jacobs Chief Financial Officer Randall Shearin Senior Vice President/ Editorial & Operations Tammy Orr Vice President/ Circulation Director CIRCULATION & ADMINISTRATION Tammy Orr Circulation Director Teresa Hennington Office Administrator Jacqueline Newman Advertising Traffic Charlotte Ray Circulation Assistant John-Paul Abraham Administrative Assistant INTERFACE CONFERENCE GROUP ADVERTISING SALES EDITORIAL Scott France Co-Publisher Craig McIntosh Media Advisor Matt Nixon Media Advisor Ryan Nixon Media Advisor Barbara Sherer Media Advisor Richard Kelley Senior Vice President Alicia Lewis Conference Manager Angelina Varagona Conference Coordinator Randall Shearin Editor-in-Chief Scott Reid Associate Editor SHOPPING CENTER BUSINESS (ISSN 1088-3339) is published monthly by France Publications, Inc., d/b/a France Media, Inc. © 2015 France Publications, Inc. Editorial and advertising offices are located at Two Securi- ties Centre, 3500 Piedmont Road, Suite 415, Atlanta, GA 30305. Telephone (404) 832-8262. Facsimile (404) 832- 8260. E-mail: Periodicals Post- age 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 deliv- ery); 2 years $166 ($226 air mail delivery). Single copies are $10.00. The opinions and statements made by authors, contribu- tors and advertisers to Shopping Center Business are not neces- sarily those of the editors and publishers. © 2015 France Media, Inc. To photocopy items from Shopping Center Business in quantities of 100 or less, authoriza- tion 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 (630) 553-9037. Volume 20, Issue 1 May 2015 FROM THE PUBLISHERS Mall Minded O ur cover story each May is al- ways exciting for us to develop. While you may know that Star- wood Retail has purchased a number of top quality centers around the country, you probably didn't know that it was also in the process of building a best-in-class property management, leasing and op- erations platform. It is something that re- ally has not been done in the industry be- fore. Starwood Retail has quickly come from nowhere to be the fifth largest mall owner and operator in the country. When we met with CEO Scott Wol- stein and President and COO Scott Ball and their team, you could feel the en- thusiasm in the room. Starwood's team is comprised of energetic, experienced retail real estate executives who have a mission: rethink the regional mall. It is a task they are taking on with a collabora- tive approach. The company has already made some great enhancements to its centers, in addition to creating a platform to run top quality centers. Please turn to page 122 to read the article. Movie theaters have been making a lot of moves over the past few years. The- ater companies have caught on to the ex- perience that today's consumers crave, and have set about rein- venting the way we watch movies. Today's new theaters are more luxurious, intimate and offer more food and beverage than ever. We wanted to see what some strong theater chains were doing, so we decided to profile a number of them in this issue. See page 140 for the special section. As always with this issue, we spent a lot of time on the road and in people's offices to make this issue something special to read. We visited with developers, owners, architects, and even a school to bring you what you can't read elsewhere. Editor Randy Shearin flew to New York amidst this winter's miserable weather to meet with Brixmor's CEO to find out more about the company's Raising The Bar program that will create a lot of in- ternal growth through re-leasing and rede- velopment (page 274). He also traveled to California to meet with Eric Hohmann, president of Madison Marquette, to get that company's view of the industry (page 180). While there, he also met with West- field to learn more about its $1.7 billion investment into its California properties (page 298). Here in Atlanta, we met with Primrose Schools to find out how that company uses excess or hard-to-use real estate (page 284); spent time with Cous- ins Properties at its Emory Point project (page 204); and met with architect Angelo Carusi, to find out what trends he is see- ing (page 248). And those are just a few of the more than 40 articles in this issue. Malls are one of the mainstays of our industry. As with anything retail, they are always changing. Our friend Paul Kast- ner has set about recording the history of the regional mall with a new website, He is collecting stories and pictures from malls of yester- year; those great marketing programs of the 1960s, '70s and '80s. A sidebar on his project, and how to contact him, is found on page 138. As we were going to press, we were saddened by the passing of one of the grandfathers of the mall, A. Alfred Taub- man, who died at 91 on April 17. Taub- man made immeasurable contributions to the real estate industry through Taubman Centers, including the ring road around malls. Taubman was a businessman at heart, who held many interests over his career. SCB 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: or visit our subscriber services portal at: 4 • SHOPPING CENTER BUSINESS • MAY 2015 Scott France Co-Publisher SCB Publisher Jerry France (center) with Starwood Retail Partners' CEO Scott Wolstein (right) and President and COO Scott Ball (left).

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