Shopping Centers Today September 2015
Retailers are being pressured to spin off real estate, but short-term gain can mean long-term pain, some warn.— SCT September 2015
The Common Area
More shoppers visited Europe’s shopping centers last year than in 2013, according to a survey released in July by ICSC. Footfall rose by 1.2 percent in 2014, based on the survey of eight shopping center landlords that collectively own nearly 400 centers, covering an aggregate 18.6 million square meters (about 200 million square feet) of retail across Europe.
Charming Charlie’s Melissa Boughton is searching for sites as the retailer embarks on its next round of growth.
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The Bottom Line
Toronto-based department store juggernaut Hudson’s Bay Corp. acquired Galeria Kaufhauf from Metro AG in a $2.9 billion deal.— SCT September 2015