Glimcher Realty Trust tallied the results of a national survey of consumer preferences.
The raw results reveal that:
• 59% of shoppers visit the mall at least once a month;
• Despite being very tech-savvy and daily social media users:
- Only 19% of people prefer to shop exclusively online;
- Only 14% showroom on a regular basis;
• 79% of shoppers use social media at least once a day;
• After shopping, seeking out fashion trends, eating at a restaurant and entertainment were among the most important reasons for going to the mall; and
• More than half of people surveyed said if stores offered a more enhanced shopping experience, like yoga classes, cooking demos or workshops, they would be more likely to go to the mall more frequently.
Raleigh real estate developer John Florian plans to build a 224-unit apartment building, called The Lincoln, on a two-acre site near Moore Square in downtown Raleigh.
A site plan that was recently filed at the Raleigh Planning Department.
The site plan shows a four-story building that would have a 321-space parking deck, a pool and an interior courtyard with a heavy mix of one-bedroom and some two-bedroom apartments along the perimeter of the block.
The downtown Raleigh city block where The Lincoln is planned is bound by E. Hargett Street, S. East Street, E. Martin Street and S. Bloodworth Street, and is located about one block east of Moore Square, or about four blocks from Fayetteville Street.
According to the site plans, JDavis Architects of Raleigh is the designer of Florian's The Lincoln project.
Las Vegas’ commercial real estate market will not fully recover anytime soon from the recession, but it has one perk: low-priced deals for investors.
Prices for strip malls, office buildings, warehouses and other commercial properties are about 20% below what they were in 2000, while other U.S. markets are 75% higher, said Glenn Mueller, a professor at the University of Denver’s school of real estate and construction management.
"I’d say to an investor, Las Vegas is a screaming buy," Mueller said Thursday at a commercial real estate symposium hosted by UNLV’s Lied Institute for Real Estate Studies.
Occupancy growth and rental rates are no longer at bottom but still trail most of the country.
An expected influx of Baby Boomer retirees could eventually help the commercial real estate market, given their need for retail, medical and financial management services, Mueller said.
According to local research firm Applied Analysis, the office market had a record 26.2% vacancy rate in the three months ending March 31, up from 25.1% a year earlier.
According to the brokerage firm CBRE Group, in the fourth quarter last year, Las Vegas had the highest office vacancy rate in the country and was tied with Cleveland for the fifth-highest retail vacancy rate.
It’s that time of year once again to head to Las Vegas for ICSC RECon 2013.
RECon is the global convention for the shopping center industry and provides networking, deal making and educational opportunities for retail real estate professionals from around the world.
With over 30,000 attendees and 1,000 exhibitors it is the largest industry convention, making it an unparalleled opportunity to do a year’s worth of business in just four days!
If you are looking to meet retailers to discuss new or existing leases in your centers, view the latest industry products and services that are critical to your business, attend over 30 educational sessions or find the next deal, then you need to attend RECon.
Click here to take a quick look at the Prezi from ICSC.