Shopping Centers Today February 2016


Featured Articles

COVER1

Convenience counts

Competition is putting owners and retailers under pressure to make shopping ever quicker and easier.

— SCT February 2016
Latin America keeps on building — SCT February 2016
Catering to India — SCT February 2016
Gateway to the Mideast — SCT February 2016

The Common Area

Common-offprice

Off-price is going omni-channel in a deal that will team online luxury flash-sale site Gilt and discount department store chain Saks Off 5th. Toronto-based department store conglomerate Hudson’s Bay Co. (HBC), which owns and operates the Hudson’s Bay, Lord & Taylor, Saks Fifth Avenue and Saks Off 5th chains, will buy Gilt Groupe Holdings for $250 million.

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News Makers

EXecSnaspshotYarinaLanda

The numbers testify to the success of Yarina Landa’s work at Jockey Plaza. In the course of her career and rise at this famous Peru mall — she joined in 2005 as marketing and retail manager and was named CEO and general manager last year — sales have doubled, from $338 million her first year there to some $676 million projected for this year.

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Retailing Today

CATO-storefront

Cato Fashions is ripe for expansion, but finding locations in a tight U.S. real estate market has been tricky. This value-price fashion and accessories retailer, which operates the Cato, It’s Fashion and Versona specialty chains, has “no capital constraints that would inhibit new store growth,” according to CEO John Cato. “But lack of new shopping center development is making it difficult to grow store count.”

— SCT February 2016
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The Bottom Line

Washington-DC

U.S. legislation passed Dec. 18 will allow U.S.-based REITs to attract more capital from foreign investors. The new law, which relaxes the strict tax rules that govern foreign investment in real estate, had the support of ICSC and other commercial real estate trade associations. As an offset for this provision, there were updates to the REIT rules, including limits on REIT spinoffs from non-real-estate holding companies.

— SCT February 2016
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Center Stage

center-hammock

Hammock Shops ropes in crowds on Pawleys Island, S.C.

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On the Ground

Tampa

The retail property market in the Tampa metro is “as good as it has been in quite some time," local experts say.

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