Luxury Retail Along Manhattan’s Madison Avenue Shifts from Rebounding to Thriving

By Joe Aquino, president, JAACRESWhen Barneys New York department store closed in 2020, we saw a dramatic relocation of luxury retail on Madison Avenue to the south, apparently with a common goal of establishing better proximity to East 57th Street. Prior to that event, many luxury brands enjoyed a shop within a shop at Barneys, plus another store on the corridor, usually further uptown.Prior to the COVID-19 pandemic, this stretch of Madison Avenue was so tight for space that we saw …

Online, Luxury Retail Brands Expand in Chicago Neighborhoods

By Kelly Nickele, Mid-America As the summer season begins, retailers and restaurateurs in Chicago are scheduling tours for the city’s warmest months of the year, and overall leasing velocity is continuing to increase. Here’s a quick review of the top retail real estate trends in Chicago now.  Digitally native brands continue to expand, embracing omnichannel sales strategies. I grew up at Fremont & Armitage in Chicago’s Lincoln Park neighborhood through my high school years. I …

Retail, Industrial Brokers in Wichita Market Remain Busy

Wichita experienced considerable retail and restaurant expansion throughout 2021, with other new stores planned for 2022. The two biggest new players to Wichita include Top Golf at 29th Street and Greenwich Road, now under construction, and Scheel’s entering the market with a new 220,000-square-foot store to be located in the former Sears space at Towne East Square. Top Golf is anticipated to open in late 2022, spurring more retail activity on North Greenwich.  Furniture stores have been …

Mixed-Use Owners in Northeast Face Retail Tenancy Dilemma

By Taylor WilliamsAs the pandemic recedes from the minds and wallets of American consumers, the food and beverage (F&B) industry finds itself embroiled in a host of new financial problems, driven this time by pure economics rather than public health.Inflation and supply chain disruption are working both in tandem and within independent channels to bring new hardships to the sector, mainly in the form of elevated costs and delayed timelines for operating and expanding restaurants of …

Rio Grande Valley Retail Market Sees No Shortage of Demand from National Brands

By Randy Summers, vice president, CCIM, CPM, Davis Equity Realty “Y’all come” is the message being sent to developers, retailers, franchisees, quick-service restaurants, corporations and manufacturers from the Rio Grande Valley (RGV) region of Texas — and all these users seem to be heeding the call.  The local economy seems to be hitting on all cylinders, albeit with constraints on labor and supplies, as well as rising costs. The four counties that statistically make up the RGV — …

Milwaukee Retail: Adaptation, Creativity and Competition

Milwaukee is a city known for beer, motorcycles, basketball and blue-collar workers. However, Milwaukee should also be known for having a strong retail marketplace as well. With ever-changing markets and trends, retailers are finding many ways to get creative and adapt with the trends. Due to the adaptation, the competition for prime outlots is at an all-time high and does not appear to be changing any time soon. Outlot wars It’s with absolute certainly that the Milwaukee retail market has …

Developers Find Creative Ways to Meet Demand in Thriving El Paso Retail Market

By Andy Moreno, director of operations, MIMCO; and McGee Sauls, senior vice president, MIMCOHistorically, the El Paso market has often been overlooked, primarily due to its distance from other major Texas markets. However, that sentiment is shifting rapidly due to strong economic and population growth.While an accurate figure is difficult to pin down, the number of new entries and expanding franchises within the market has exploded in recent years. “As recently as 2015, national and …

San Antonio Retail Market: The Beat Goes On

By Steve Monroe, CCIM, San Antonio market manager, Oldham Goodwin The past year has seen steady improvement in the key performance metrics of the San Antonio retail market.  Two years ago, participants in the retail sector, both local and national, were understandably preoccupied with questions about how the COVID-19 pandemic would impact retailers and owners of retail properties. The shift toward online shopping had begun several years earlier, and there was great fear that the pandemic …

Work-from-Home Boosts Suburban Minneapolis Retail Market

The metro Minneapolis retail real estate market is healthy overall coming out of 2021, with suburban submarkets on fire in many cases and urban submarkets generally subdued. A major overhang of supply was absorbed across the region last year as construction slowed dramatically, pushing retail vacancies down, rents up and sales prices of single and multi-tenant assets higher overall.  It’s a testament to the market’s overall stability and resilience given the multiple waves of COVID, and …

Detroit Retail Market Running Strong as New Year Begins

The “retail apocalypse” predicated on the pandemic never really materialized. Instead, we’ve seen retail do what it always does: evolve. Much as the rest of the country, metro Detroit’s retail real estate market has evolved and come back in a big way.  Tenants on the move As vaccines were adopted and the economy allowed to reopen, the economic rubber band snapped back quickly and stronger than many of us could have predicted. Retailers were dusting off pre-pandemic expansion plans …

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