Feature | Investment
Ingka Centres’ First Acquisition in the USA
The company has purchased the “6X6” building in downtown San Francisco. Following a transformation, the retail destination will be anchored by IKEA and will be complemented by mixed-use offerings....
Feature | Studies & Reports
A Time of Retail Parks and Convenience Centers
In Poland, 2020, a turbulent year, has brought about many changes in the retail market. The unexpected occurrence of the pandemic has complicated the situation for both contractors and tenants. However, Covid-19 has not ...
Development | Feature
Urban Regeneration: Sustainable solutions to growth
Urbanization is a global mega-trend. Therefore, urban regeneration projects have become increasingly relevant. However, one has to consider quite a few things along the journey toward a successful mixed-used scheme. The ...
Feature | Retail
bonprix’s “fashion connect” Store Concept in Hamburg Has Won “World Retail Award 2020”
The “fashion connect” store, which is owned by bonprix, was awarded one of the international “World Retail Awards” at the “World Retail Congress” on 17 September 2020....
Feature | Ticker
Special Issue „What remains of 2020”
You do not want to miss this special issue. Top industry experts talk about the special year 2020....
Feature | Management
Always a Cross-European Team Effort at Multi
Asset Management Directors Diederik Bakker and Harold van Riel and their asset management teams work closely together at Multi Corporation. This major pan-European retail service platform manages and redevelops retail pr...
Development | Feature
Need for Action – Refurbishments in CEE
Shopping centers have been facing a growing number of challenges in the last few years, with many retailers failing to adapt quickly enough to competition from online retail platforms and changing customer habits that re...
Feature | Proptech
“You Just Have to Play Your Cards Right”
Landlords have assets at their disposal that e-commerce lacks. That allows for a unique mix of services and experience under a single, local roof, says Markus Porvari, Founder of HyperIn and Member of the ACROSS Advisory...
Development | Feature
Financing in Hand
East Gate Mall in Skopje, North Macedonia, which features approximately 250 retail units, is scheduled to open its doors in fall 2021. Balfin Group Albania is responsible for the project....
Landsec welcomes 48,000 sq ft of lettings across its outlet portfolio Landsec has completed 26 deals with 21 brands in the last ten months across four of its outlet malls, Gunwharf Quays, Braintree Village, Cla...
After the successful launch of an e-charging network in January 2020, SPAR Hungary continues to expand its nationwide network in cooperation with partner NKM Mobilitás Kft. This is another example of SPAR Hungary implementing innovative solutions that contribute to environmental sustainability and provide high-quality service to customers.
Vastned, the listed European retail property company focusing on ‘venues for premium shopping’, announced the Vastned Green Finance Framework, and has agreed a new committed Green Revolving Credit Facility under this framework of € 40 million, in which ABN AMRO and Rabobank each participate for € 20 million.
During the autumn of 2021, the name DÄNISCHES BETTENLAGER will be changed to JYSK.
The management board of Adler Modemärkte AG filed an application for the opening of insolvency proceedings in self-administration pursuant to Section 270a of the German Insolvency Code with the local court of Aschaffenburg on 11 January 2021.
Savills Investment Management (Savills IM), the international real estate investment manager, has launched a European food retail–focused fund, the Savills IM European Food Retail Fund.
The Crown Estate has partnered with AccessAble to launch a new series of detailed accessibility guides for a number of its regional retail parks and shopping centres, making it the first real estate company to undertake these for retail parks.
Real estate investor Altera Vastgoed NV has sold the Arendshof II shopping centre in oosterhout. The property comprises approximately 9,125 sq. m comparisson retail space and an indoor parking garage with 562 parking spaces.
Ambiente, Christmasworld and Paperworld /// April 17 – 20, 2021 /// Frankfurt/Main, Germany The Ambiente, Christmasworld and Paperworld trade fairs will be held as a joint event under the name International Consumer Goods Show – S...
“Health and safety will always be our first priority, but a tiered approach to the new Covid measures could help avoid blanket national closures.”
“Christmas as an opportunity, especially in difficult times, to give people what they are longing for so much: happiness, the memory of the best moments of their childhood, heart-warming feelings and emotions.”
“On high streets, we might expect light, bright, and welcoming spaces designed for casual gamers, which reflect the synergies between gaming and other creative industries.” | By Nicky Wightman
Shopping Centers in the Baltics amid Covid-19: Visitor Footfall Is Down, Though More Is Being Spent per Visit.
“It would have been naive to think that, somehow, the Eastern countries could have transitioned from communism to laid back consumerism without going through the small versus big Kulturkampf that we have all experienced.” | By Michael MacBrien
“We remember the impact food trucks have had. Those ideas can be developed further.” | By Chris Igwe
Urbanization is a global mega-trend. Therefore, urban regeneration projects have become increasingly relevant. However, one has to consider quite a few things along the journey toward a successful mixed-used scheme. The most successful projects will be those that incorporates work, life, shop, play, and access to services at inner-city locations.
Shopping centers have been facing a growing number of challenges in the last few years, with many retailers failing to adapt quickly enough to competition from online retail platforms and changing customer habits that reflect new priorities and expectations. Chapman Taylor Group Board Director Jon Hale and Prague Studio Director Filip Pokorny examine how malls in CEE must adapt so that they can flourish in the coming years.
East Gate Mall in Skopje, North Macedonia, which features approximately 250 retail units, is scheduled to open its doors in fall 2021. Balfin Group Albania is responsible for the project.
As a result of the pandemic, Mipim took place later than usual this year. However, awards were presented, as usual. The award for “Best Mixed-use Project” went to Monopolis, which is owned by Polish company Virako.
Following an investment in the amount of 70 million euros, Supernova Ljubljana Rudnik has entered a new phase of development, becoming one of the largest shopping centers in Slovenia. The completion of all work is scheduled for the second quarter of 2022.
The shopping center and management division of Abu Dhabi-based Lulu Group International, Line Investments & Property LLC, boasts a portfolio of malls through the Gulf and India. +++ TribecaCity in Mauritius continues to rise up out of the ground, with good progress being made on the scheme’s basement levels. Benoy is delivering architecture, interior design and master planning for the 150,000 sq m project. +++ The Netherlands-based design firm MVRDV has released details about Glass Mural in Detroit, USA.
Asset Management Directors Diederik Bakker and Harold van Riel and their asset management teams work closely together at Multi Corporation. This major pan-European retail service platform manages and redevelops retail properties across 14 countries in Europe and Turkey. How do they maintain sustainable asset value in a health crisis such as the current Covid-19 pandemic?
Sustainable retail real estate is extremely popular with investors and operators these days. SES Spar European Shopping Centers is playing a pioneering role in this area throughout Europe.
Recruitments, promotions and appointments...
Shopping Centers in the Baltics amid Covid-19: Visitor Footfall Is Down, Though More Is Being Spent per Visit.
At HyperIn our mission is to offer the leading retail real estate management platform for connecting digital and physical consumer journeys. We truly believe that shopping destinations will also in future be lively places for consumers to visit and get inspired. However, this requires that landlords will be able to deliver all these experiences in a convenient way, like it is expected in 2020.
The best shopping centers must be underpinned by a technology platform powered by high density, connected technology infrastructure, technology services and real-time, actionable shopper data, delivering a highly personalized experience for how shoppers want to engage with the destination. It must be an online to offline to online journey and it should be continuous not just at a few key times a year.
The company has purchased the “6X6” building in downtown San Francisco. Following a transformation, the retail destination will be anchored by IKEA and will be complemented by mixed-use offerings.
Business closures and rent losses in the coronavirus crisis have made banks even more cautious about retail properties and shopping centers. In the case of refinancing, portfolio holders have to calculate with higher interest rates and additional equity.
Following its transformation, the scheme will be the first mixed-use object in a downtown location, anchored by an IKEA city store, in the United Kingdom.
Ingka Centres’ €7.3 billion investment to transform its business remains on track – with particular emphasis on sustainability and innovation.
Allianz Real Estate Refinances a 300-million-euro Acquisition +++ Investment in Hallplatz-Galerie in Zweibrücken +++ Investika purchased Galerie Butovice
The most active real estate investors in Romania came from Europe – up until 10 years ago. Today, investors from South Africa and Singapore play a vital role, says Liviu Tudor, Founder and President of the Romanian Association of Building Owners (Rabo).
The “fashion connect” store, which is owned by bonprix, was awarded one of the international “World Retail Awards” at the “World Retail Congress” on 17 September 2020.
Redevco has recently completed an extensive refurbishment of its C&A store in the city center of Zurich. The redevelopment has transformed it into an energy-efficient property, incorporating the clothing retailer’s latest design concept. Redevco is targeting a BREEAM In-Use Excellent sustainability rating.
Many on the European continent seem to think that we live in a free world, underpinned by free market economics, and that our comparative wealth is unassailable. But the market that we now operate in is anything but free. Retail is perhaps the sector in which this is most searingly obvious. It all boils down to this: Between which entities should money flow take place? The trick must surely be to ensure that the money flow stays here. But how do you compete with global e-commerce?
What kind of experience are consumers looking for today? How important is the digital world? Is sustainability still relevant?
The online event was dedicated to the Covid-19-related question: European Outlets–back to normal? A large and prominent expert audience followed the discussion.
Even though many things are changing in times of corona, the renovation of Quarree Wandsbek in Hamburg continues and even big stores with more than 800 sq m have reopened. Their product ranges already expanded, as “Kreativmarkt Hamburg” signed its new lease agreement in the middle of the crisis.
Landlords have assets at their disposal that e-commerce lacks. That allows for a unique mix of services and experience under a single, local roof, says Markus Porvari, Founder of HyperIn and Member of the ACROSS Advisory Board.
PROPTECH COLUMN | “As digital consumer databases typically reach between 10% and 50% of unique annual physical visitors and beyond, each shopping center would have as strong a value proposition vis-à-vis tenants in the digital space as those with physical stores.” | By Peter Tonstad
The best shopping centers must be underpinned by a technology platform powered by high density, connected technology infrastructure, technology services and real-time, actionable shopper data, delivering a highly personalized experience for how shoppers want to engage with the destination. It must be an online to offline to online journey and it should be continuous not just at a few key times a year.
“Several shopping centers have already established second-hand item exchange days for their shoppers. Malls are perfect locations for such activities, and the opportunities go beyond leasing floor space to second-hand stores.”
The Covid-19 pandemic will cause lasting change in the way that we live, work, play, and particularly in the way we shop.
The importance of multichannel communication between mall management, tenants and consumers has become clearer to everyone during the isolation, says Hannu Käki VP, Business Development at HyperIn, in his interview.
In recent years, F&B has been hailed as the retail-centric development equivalent of a knight in shining armor; an offer that cannot be replicated online, that delivers customers an experience worth seeking-out and returning to time and again. The onset and impact of Covid-19 highlights the importance of a successful F&B strategy and the development of appealing F&B destinations that respond to how the customer of the future will shop day and night, and how mixed-use places are stitched together.
The reign of retail is over. The Covid-19 crisis is not a black swan for the shopping mall industry.
The perks of traveling: enjoying the tastes of your holiday destination, and, upon return, devouring your favorite dishes from home at the airport. HMSHost International currently operates in 19 countries around the globe. Although our company has an international scope, we have never lost sight of local culture and cuisine, which has allowed us to think globally and act locally. As a result, alongside leading international brands, local concepts and restaurants can be found at the airports, shopping centers, and train stations in which we operate.
The game has changed for a variety of real estate developments.
“There is no better marketing strategy than making people feel good.”
The Broodzaak locations at the Amersfoort, Haarlem and Leiden train stations will be the first to be converted to the new brand at the end of May. In about one and a half years, all Broodzaak stores will have been replaced by TRECK. Alongside an expanded variety in the F&B assortment, guests of TRECK can continue on t heir journey faster thanks to the addition of self-scan checkouts. Current employees of Broodzaak will continue to work for the new brand, with intensive training during the transition.
In Poland, 2020, a turbulent year, has brought about many changes in the retail market. The unexpected occurrence of the pandemic has complicated the situation for both contractors and tenants. However, Covid-19 has not so much initiated new trends as it has dynamized the existing ones. It is not only about the growing importance of the omnichannel approach, especially with regard to e-commerce; the increasing share of retail parks and convenience centers in retail sales also ranks as one of the key trends. As research has shown, smaller-scale commercial formats have been most successful in dealing with the challenges brought about by the pandemic.
Retail parks and hybrids have weathered the storm of the crisis relatively well due to their high proportion of local supply. Nevertheless, in the vortex of the coronavirus crisis, the issue of sustainability seems to have fallen by the wayside in many cases. That picture, however, is deceptive. The necessary (re)alignment of retail parks and other agglomerated retail real estate properties makes it necessary for ESG criteria (environment, social, governance) to be taken into account. The following “Top 5 Lessons Learned” were taken from a recent publication on retail parks in Germany*.
“Covid-19 is the biggest challenge of our time and it affects the retail sector as well as the retail real estate market. With the study Footfall Anchors Post Corona–5 Propositions for the New Future of Retail, we discuss the current situation for retailers, investors, project developers, and municipalities on a broad scale. In collaboration with renowned experts we discuss the new future of retail, the real estate industry, and subsegments of the retail real estate sector. The result is a comprehensive documentation of the status quo regarding the situation of retail asset class.” - Angelus Bernreuther, Head of Investor Relationship Management at Kaufland Germany.
Modern retail stock in Romania will exceed the 4 million sq m threshold by the end of the year. Several openings were postponed due to Covid-19.
Almost 90,000 sq m of new retail space was delivered to Polish market in the second quarter of 2020. Footfall amounted to approximately 80% of last year’s due to the pandemic.
Malls in Switzerland are currently losing 39 million Swiss francs in revenue per day.
