CONTENTS

September 2006

• FEATURES
• Getting a lot more from parking lots
• Some mall landlords are concluding that the vast expanses of area surrounding their centers are far too valuable to be parking cars on.
• Where to park
• Some Aussie advice
• Reinventing resorts
• Venerable resorts such as Fort Lauderdale, Fla., are not just for vacationers anymore, but are increasingly catering to families and retirees with second homes. Retailers have taken note.
• U.S. draws more foreign investors
• The U.S. remains the land of opportunity for foreign investors. U.S. real estate accounts for more than a quarter of the $470 billion foreigners invest in property around the world each year.
• Retail condo boom
• In a few select markets, tenants and investors have been buying retail space at a blistering pace in the past two years.
• Chicago’s big-box battle
• Big retailers have had sharp words for Chicago’s new ordinance that requires them to pay above-minimum-wage rates. But will they follow Target’s and Lowe’s lead and shun the market?
• Stores shrink to grow
• As big retailers seek to expand, they are rolling out smaller formats that are more appropriate for densely developed locations and secondary markets.
• To live and play in downtown L.A.
• Downtown Los Angeles largely shuts down when its offices close, but increasingly it is attracting residents, who in turn are drawing the attention of retailers.
• Third Street’s first class retail
• Long used to shopping in malls, Los Angelenos get a fancy shopping street of upscale retailers to call their own.
• Burbank Town Center’s makeover
• Burbank, Calif., which calls itself the Media Capital of the World, is less renowned for its shopping. But a four-year, $17 million redevelopment of Burbank Town Center is designed to give the city some shops worthy of its fame.
• Miracle remedy for Desert Passage
• The new owners of Desert Passage hope to turn the long-flagging center on the Las Vegas Strip around with a new design, some new shops and a new name: Miracle Mile Shops.
• China’s embrace of luxury
• China is already the world’s third-largest consumer of luxury goods, and retailers are rushing to meet the demand.
• Beijing builds a lifestyle center
• Retail development in densely packed Beijing tends to be vertical. All the more eye-catching, then, will be Solana, the city’s first lifestyle center, because it will be spread across 32 acres.
• Latin America’s crime-free malls
• Latin American shopping centers provide famously safe havens from the region’s equally famous street crime rate.
• How to succeed in Korea
• It takes more than rock-bottom prices for retailers to be successful in Korea — just ask Wal-Mart and Carrefour.
• Percentage rents go south
• Latin America’s landlords are increasingly switching to the percentage rent lease structure.
• Latin America catches mixed-use fever
• Cencosud is about to give Chile its first skyscraper and South America its tallest building.
• Shopping on Sunday
• Sunday is one of the busiest days of the week for Latin America’s malls, thanks partly to more women working weekdays.
• Going to church at the mall
• Latin Americans don’t have to choose between going to church and going shopping — many malls provide chapels.
• From trash to treasure
• Developers plan to turn a long-dormant landfill into Los Angeles County’s biggest retail development site.
• Dining doldrums
• Casual dining chains such as The Cheesecake Factory and P.F. Chang’s see reduced traffic among lower-income customers.
• Development in brief
• An update on what developers and their tenants are up to