Shopping Center Business

MAY 2016

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

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FROM THE PUBLISHERS Volume 20, Issue 2 June 2015 President/CEO Exec. Vice President Scott Reid Associate Editor Richard Kelley Senior Vice President Alicia Lewis Conference Manager Angelina Varagona Conference Coordinator INTERFACE CONFERENCE GROUP Richard Kelley Senior Vice President Alicia Lewis Conference Manager Angelina Varagona Conference Coordinator CIRCULATION & ADMINISTRATION Tammy Orr Circulation Director Teresa Hennington Offce Administrator Jacqueline Newman Advertising Traffc Charlotte Ray Circulation Assistant John-Paul Abraham Administrative 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. © 2015 France Publications, Inc. Editorial and advertising offces 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 offces. 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. © 2015 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 (630) 553-9037. Publisher Randall Shearin Vice President/ Randall Shearin Scott France Circulation Director Michael Jacobs EDITORIAL Editor-in-Chief Jerrold France www.shoppingcenterbusiness.com ADVERTISING SALES Chief Financial Offcer Editorial & Operations Tammy Orr Senior Vice President/ Senior Vice President/ Tammy Orr Editorial & Operations Chief Financial Offcer ADVERTISING SALES www.shoppingcenterbusiness.com Jerrold France Editor-in-Chief EDITORIAL Michael Jacobs Circulation Director Scott France Randall Shearin Vice President/ Randall Shearin Publisher 4 • SHOPPING CENTER BUSINESS • May 2016 W e continue to fnd new and ex- citing ways that the physical en- vironment for retail is thriving. You've seen printed on this page dozens of times that retail is a constantly changing environment. We are adaptive and we are among the most creative industries in the world. Over the past few years, we have not only accepted new norms, but we've embraced change in a way that this indus- try has never done before. When national developers build a new project and direct leasing teams to go fnd local merchants and restaurateurs frst, that is a huge shift for our industry. If you remember a few years ago, the in- dustry was criticized for building the same project over and over in multiple markets. You won't see that with new projects to- day. You are hard pressed to fnd a project that has been built or revitalized over the past few years that looks or feels like any- thing else. We've gone from leasing to cu- rating — fnding and incubating new retail- ers or those with omnichannel strategies. Food, as well, has become a big part of leasing. From star chefs to regional favor- ites, shopping centers have to create food options that appeal to today's consumer. Entertainment and events are also back again at centers. From movie theaters to bowling and gaming concepts, entertain- ment is drawing more people than ever. It is also great to see events drawing people to regional shopping destinations again. This is so important to the communities and to retailers. Events were part of the foundation of the shopping center indus- try, and to watch them evolve to incor- porate technology and include retailers is great. We always like to bring our readers in- side stories. Our cover story this month is on a company that you may have heard about — Centennial Real Estate. Centen- nial made industry headlines earlier this year when it acquired fve centers from Westfeld for $1.1 billion. It was a huge transaction for this company, known mainly for owning a few regional malls and turning around community centers. But Steven Levin, the company's CEO, has wanted to be in the mall business for a long time, and he has a strategic, back-to- basics way of thinking that creates a great blueprint for his combined portfolio. Ed- itor Randy Shearin had the opporunity to sit with Levin, and Centennial's Chief Operating Offcer Dan Sheridan, in Dallas for our cover story this year. You can fnd out the inside story on the transaction — and what the company has planned — on page 118. May is a time when we get to write about a lot of people, companies and proj- ects that we hear about and want to cov- er more in-depth. There are some great stories in this issue. We enjoyed catching up with Jim Wilson & Associates (page 198), who has a number of projects un- derway in the Gulf States and Southwest. We also enjoyed learning more about The Wharf, a project being developed by P.N. Hoffman and Madison Marquette in Washington, D.C., that promises to open up the city's waterfront (page 134). We caught up with Jeff Edison of Phillips Edison & Co. (page 274) on his compa- ny's new initiatives and with principals at DJM Capital Partners (page 264) on their new projects. We also enjoyed getting to know some great tasting shopping center tenants, both old and new, with in-person visits to the presidents of Cinnabon (page 142) and Paciugo Gelato (page 220). We look forward to seeing all of you during ICSC RECon. Please stop by and see us at booth N1834. SCB Volume 21, Issue 1 May 2016 Chairman and CEO President Katie Sloan Associate Editor Scott France Co-Publisher Craig McIntosh Media Advisor Ryan Nixon Media Advisor Jeff Wright Media Advisor Robin Reimold Media Advisor Barbara Sherer Media Advisor/ Classifed Ad Sales INTERFACE CONFERENCE GROUP Richard Kelley Senior Vice President Alicia Lewis Conference Manager Angelina Varagona Conference Coordinator CIRCULATION & ADMINISTRATION Tammy Orr Circulation Director Teresa Hennington Offce Administrator Jim Clark Advertising Traffc 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. © 2016 France Publications, Inc. Editorial and advertising offces 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 offces. 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. The opinions and statements made by authors, contributors and advertisers to Shopping Center Business are not necessarily those of the editors and publishers. © 2016 France Publications, Inc. To obtain reprints, permissions and copies, please contact Barbara Sherer, manager of special advertising, at (630) 553-9037. ® What's Old Is New Scott France Jerrold France

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