September 2007

FEATURES
When bridges and roads fail
Developers have much to gain by the creation of efficient transportation networks — and much to lose when that infrastructure fails. By Joel Groover
Carried interest — a taxing issue
A congressional bill would sharply raise taxes on carried interest, a move that would affect limited partnerships and limited liability companies. By Dees Stribling
CDOs and the subprime pinch
The subprime mortgage meltdown has also melted the investment community’s appetite for commercial real estate collateralized debt obligations. By Dees Stribling
The malling of Africa
From Angola to Zambia, mall developers and retailers are helping to lift a continent scarred by poverty and war. By Curt Hazlett
Iran’s retail revolution
Global retailers have bypassed Iran, but is that about to change? Carrefour’s coming, and work is under way on a massive tourist destination. By Mark Faithfull
Hurricane insurance warning
The scarcity and high cost of insurance coverage against storms continues to bedevil retail landlords on the U.S. Gulf Coast. By Steve McLinden
Vietnam’s economic awakening
Investment is pouring into Vietnam, and its economy is growing accordingly. But foreign companies still face a tangle of government red tape there. By Edmund Mander
Retail takes a Caribbean vacation
Tourists visiting St. Thomas, in the Virgin Islands, are well served by retail, but now the offerings are about to expand for those that live in the region. By Steve Bergsman
In brief
The latest development news in short form.

DEPARTMENTS
Center Stage
McArthurGlen has built an outlet center with a view — Barberino Designer Outlet — north of Florence, Italy.

The Common Area
A developer plans a solar-powered city in California; Regency helps form ecologically friendly construction standards for centers; and business improvement districts improve property values.

Retailing Today - Profiles of some tenants with something new to offer

Wooing U.S. retailers
Developers around the world are trying to lure U.S. retailers, but with little success so far.
HobbyTown’s next town
Builders of model rockets,planes and trains rejoice: HobbyTown’s in 43 states and growing.
Sneaker fatigue
Demand for high-tech footwear has collapsed — kids now want cheaper, simpler sneakers.
Bar Louie bars no one
Bar Louie offers a kids’ menu,drinks for the after-work crowd and meals until 4 a.m.
Sport Clips’ home run
By year-end there’ll be 500 salons where men can simultaneously get a haircut and catch a game.
Minimum-wage boost
Three annual minimum-wage raises will give 12.9 million Americans a pay increase by 2009.
New Dots, same customer
Dots has redesigned its stores, but not its affordable, Middle America fashion image.
Real Mex grows
The largest Mexican restaurant chain in the U.S. takes south-of-the-border fare east of the Mississippi.
Blue Willi’s secret
Danish apparel company Blue Willi’s isn’t shouting from the rooftops about its new U.S. boutiques.
River Island hits the mainland
This U.K. midmarket fashion retailer has arrived in continental Europe.
In brief
The latest retail news in short form.

On the Ground
Retail development is helping rejuvenate San Jose, Calif
The Greater San Jose retail market, in Costa Rica, is benefiting from mall expansions.
ICSC News
ICSC revives its Master Developers program.
ICSC announces a new design competition for Asian shopping centers.

News Makers
Architecture firm Callison hires Yves Mizrahi for his development skills.
John DiGiovanni, CSM, starts a new Inland company with the same team that created the Inland Group of Cos.

The Bottom Line
New accounting standards could mean the end of operating leases within 10 years, some say.

Shopping Centers Today -> September 2007

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ICSC ADDS ASIA SHOPPING CENTRES AWARD

By Kerri Linden

ICSC is adding a new honor to its list of awards as the retail development organization continues to expand globally. The ICSC Asia Shopping Centres Award will recognize top centers in the region as judged by a panel of their professional peers.

“The regional awards program will highlight best practices in retail properties in terms of design, developments, marketing and community relations throughout Asia,” said Rudolph Milian, SCMD, SCSM, ICSC’s senior staff vice president of professional development services. “This includes Southern Asia (India), Western Asia (Middle East) as well as Eastern Asia (China and Japan) and Southeastern Asia (islands).”

Entries will be judged by top industry practitioners, says Tan Guan Heng, ICSC’s director for the Asia-Pacific region.

As with other ICSC regional awards, such as the Canadian Shopping Center Awards, the Solal Marketing Awards and the European Shopping Centre Awards, the Asian award entries can also be entered for a global ICSC award such as the MAXI and International Design and Development Awards.

“The award recognizes that Asia is at the center of many trends that extend to retail development, and it will honor the industry leaders responsible for defining these trends,” said Tan.

To have an award backed by ICSC as an objective trade association is also an important aspect, Heng says, because all other successful awards programs in Asia are backed or organized by associations. The Cable and Satellite Broadcasting Association of Asia sponsors the Asia Television Awards, for instance.

Beginning in January, entries can be submitted on ICSC’s Web site and the deadline will be set for some time in June. The winners will be announced at the 2008 ICSC Asia Expo and will also be automatically entered in the ICSC International Design and Development, and global MAXI Awards programs.

The Asia Shopping Centres Award will be the first awards program introduced by ICSC since it launched the Solal European Marketing Awards program in 1991.

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September 2007

ICSC ADDS ASIA SHOPPING CENTRES AWARD