The ICSC Blog

April 11, 2011
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Limiting Liability: Landlords and Tenants Work Together to Create Safer Shopping Centers

By María Bird Picó Declining sales and property values and a generally sour economy offered developers little scope for revenue growth at the end of 2009. But U.S. landlord Developers Diversified Realty saw one area, at least, where it could cut costs: liability insurance. “We began asking ourselves how we could reduce costs, seeing it…

March 30, 2011
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Shopping Centers Focus on the Future by Giving Back to the Community

By Steve McLinden In a day when many businesses may find giving to charity difficult, retail real estate decision makers the world over are holding fast to a commitment to help their fellow man, in good times and in bad. In addition to supporting such causes as United Way or various worldwide disaster-relief funds, the…

March 23, 2011
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The Slow but Steady Recovery of Las Vegas

By Dees Stribling As ICSC members finalize their travel plans to Las Vegas for RECon 2011 this May, their destination city is on a path of its own. One of the U.S. markets hit hardest by the recession, Las Vegas is on a slow but steady road to recovery, observers say. "The best we can…

March 11, 2011
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Commercial Lending Rebounds, Open-Air Conference

Commercial real estate finance has regrouped amid improving economic conditions and there’s now an abundance of lenders chasing down a growing number of mostly Class A retail real estate purchases, said a panel of high-profile lenders Thursday at the ICSC Open Air Conference in Dallas. The controversial commercial mortgage-backed securities (CMBS) loan market, written off…

March 2, 2011
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Retail development surges in Ecuador

By María Bird Picó When the Quicentro Sur mall opened in Quito, Ecuador, last September, the country’s biggest bank, Banco Pichincha, opened three high-tech, nonstaffed branches in it. The city’s tech-loving northern residents like them. Those in the southern neighborhoods, however, sulked. So the bank plans to open a staffed branch there this year. There…

February 17, 2011
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Build your own tenant: The Buckeye Hall of Fame Grill was cooked up by a landlord

By Beth Karlin When Nationwide Realty Investors was planning the $500 million Grandview Yard mixed-use development, outside Columbus, Ohio, the firm bet big on neighboring Ohio State University. “One of our key markets and customer bases is Ohio State — not just the students and the folks that work there, but all the alumni and…

January 31, 2011
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Commercial Real Estate Recovery Has Legs, PwC Poll Finds

A poll of investors, lenders, executives and other commercial real estate stakeholders conducted by accounting firm PricewaterhouseCoopers (PwC) found a generally optimistic attitude towards the industry in 2011. Of the more than 200 respondents, more than 70 percent indicated that they believe ongoing recovery in the commercial real estate industry has legs. More than half,…

January 27, 2011
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Walmart to Spend $500 Million Expanding Canadian Footprint in 2011…

Target isn’t the only U.S.-based discounter interested in Canada these days. Walmart’s Canadian division announced that it plans to spend $500 million opening 40 new supercentres and expanding, remodelling or relocating existing stores in the coming year. The expansion includes the discount chain’s first stores in the provinces of Manitoba and Quebec. Earlier this month,…

January 25, 2011
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Saving Water Like Money

Saving Water Like Money - Centers are sporting elaborate systems to catch rainwater for irrigation and other non-potable uses. By Steve McLinden All around the world now retail landlords and their tenants are getting ever more creative about conserving water; strategies include rainwater cisterns, leak sensors and smart-irrigation controls. Regency Centers’ $20 million Market at…

January 25, 2011
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J.C. Penney to close outlets, catalog division, six stores

Picture Source:  J.C. Penney Co. is to wind down its catalog and outlet operations, and close down underperforming stores, it announced today. The retailer also said it has taken on two new board members — activist investor William Ackman and Vornado Realty Trust Chairman Steven Roth. The chain said that over the course of…