ACROSS | The European Retail Real Estate Magazine

Ticker

Capital & Regional malls record positive December footfall significantly outperforming National Index

Capital & Regional, the UK community-focused shopping centre REIT, saw a 1.7% footfall increase across its wholly owned portfolio of assets for December 2017, underlining the continued resilience of well-managed, dominant community shopping centres and the important role they play in their localities.

Ticker

Club deal: Real I.S. acquires “Wien Westbahnhof A3” in central Vienna for German pension funds

Real I. S. has launched a special investment fund for three German pension funds amd has acquired the fully-let commercial property, “Wien Westbahnhof A3”, in a share deal for approximately EUR 110 million.

Ticker

First acquisition of FLE in Poland – Wratislavia Center

Wratislavia Center, a mixed-use property in Wroclaw has been sold. In the process Knight Frank acted on behalf of the seller, a private investor. Dentons provided legal advice. The property was bought by FLE, an investment advisor headquartered in Vienna, advised by the legal counsellors White & Case.

Topics
Opinion

In the Clash Between Brick-and-Mortar and Click-and-Order, Popups Are the Happy Compromise

Between eBay, Etsy and Amazon, it’s getting harder and harder to ignore the writing on the wall - online retail is here to stay, and it will continue to upend the retail economy.

Events

COMPLETELY RETAIL MARKETPLACE UNITED KINGDOM, APRIL 24, 2018, LONDON

Completely Retail Marketplace is a one-day, leasing-focused event all about deals. It brings retailers, landlords and agents together to do business.

Development

New brands coming with Ada Mall shopping center

The Ada Mall shopping center, currently under construction near Ada Ciganlija, alongside the specific design recently honored with an international award, will bring innovation to the market in terms of brands.

Center Management

Increased appetite in Sweden

Grosvenor Europe knows that, with the rise of e-commerce, it is essential to provide a full shopping, leisure, and dining experience to meet guests’ needs. They are thus implementing appropriate measures - for example in Sweden.

Retail

An award for “First Store by Alexa”

The winners of this year’s “Real Estate Marketing Award 2017” were again honored at the international real estate fair Expo Real in Munich. The winners in the “retail” category are Union Investment Real Estate/Sonae Sierra/21Media for their “First Store by Alexa,” a new competition concept for innovative store ideas.

Factory Outlets

VIADUC VILLAGE IN SOUTH FRANCE - OVER 40% LEASED

Groupe Idec Invest recently announced at Mapic that its future outlet village, Viaduc Village, at the Millau Viaduct in the South of France, has surpassed the 40% leasing hurdle.

Investment

Retail park in Amberg, Bavaria under the hammer

The Hahn Group has acquired a retail park in Amberg, Bavaria, for the institutional Hahn German Retail Fund II.

Studies & Reports

Size Does Matter

The drafters of the Savills Global Luxury Retail Report have discovered that luxury retailers are currently focusing on top locations.

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Opinion

PEOPLE IN THE EUROPEAN RETAIL REAL ESTATE INDUSTRY

Recruitments, promotions and appointments in the European Retail Real Estate Industry.

BY JOÃO CORREIA DE SAMPAIO

The Evolution of European Retail Real Estate Trends

The retail real estate industry today is facing disruption from many sides. The digital revolution has been deep and widespread, generating ripples that include e-commerce, social media, and the rise of technology in every aspect of our lives.

BY CHRIS IGWE

At a Tipping Point

We are living in probably the most interesting and exciting times for the retail industry as a whole. I believe that we are at a tipping point. You only have to look at the two most successful fashion brands today: H&M and Inditex Group.

BY BILL KISTLER

Embracing the Winds of Change

Think of each of the new challenges you have had to confront over the past decade as a cloud appearing in an otherwise blue sky. From rapidly changing consumer behavior to e-commerce, each cloud cast a shadow on “business as usual.” On their own. none threatened to spoil the picnic. As gathering clouds darken the sky, however, it looks to some like a storm is coming.

BY BRENDON O’REILLY

Poland – Time for Advanced Outlet Ideas

Without a doubt, the Polish outlet market is the biggest in CEE, which makes it very attractive for investors. Outlet centers operating there are a great example of meeting current market needs—both from tenants’ and customers’ perspective.

PEOPLE IN THE EUROPEAN RETAIL REAL ESTATE INDUSTRY

Recruitments, promotions and appointments in the European Retail Real Estate Industry.

Events

ULI ITALY ANNUAL CONFERENCE 2018, APRIL 19, MILAN, ITALY

The ULI Italy Annual Conference will be held on April 19 from 8:30am to 2:15pm at the Assimpredil Ance Headquarters in Milan.

10TH GERMAN RETAIL REAL ESTATE SUMMIT 2018, FEBRUARY 28 – MARCH 1, DÜSSELDORF GERMANY

2018 marks the tenth anniversary of the German retail real estate summit.

The Premium Business Program at Christmasworld in Frankfurt

Top keynote speakers and networking opportunities to put you ahead on the knowledge front.

ULI Europe Conference 2018, January 30-31, Berlin, Germany

The ULI Europe Conference is a flagship real estate event that attracts more than 500 top professionals from across Europe and beyond.

14th ANNUAL INTERNATIONAL CONFERENCE ON REAL ESTATE DEVELOPMENT, APRIL 24 – 25, 2018, ZAGREB, CROATIA

Filipovic Advisory welcomes you to 14th Annual International Conference on real estate development from April 24 und 25, 2018, at the Esplanade Zagreb Hotel.

MIPIM 2018, MARCH 13 – 16, CANNES, FRANCE

Over the past 27 years, Mipim has become the leading worldwide property event gathering real estate professionals from all sectors.

Development

New brands coming with Ada Mall shopping center

The Ada Mall shopping center, currently under construction near Ada Ciganlija, alongside the specific design recently honored with an international award, will bring innovation to the market in terms of brands.

EAT THE MALL

Dining, enjoying, relaxing, and shopping. Center operators are completely revamping their menus.

BY JORGE MORGADINHO

How an Appetite for Food Courts Can Drive Shopping Center Spending

For Sonae Sierra, localization is key: Each project must be unique and we mustn’t repeat ourselves.

GTC Opens Ada Mall in Belgrade at the end of 2018

Construction work began in the Serbian capital in March. Jelena Vučković, Leasing Manager at GTC, says a real destination - not a traditional shopping center - is taking shape.

MAPIC SPECIAL: Notable Distinction

This year’s Mapic will again feature the top players in industry as they provide a glimpse at their current retail projects. ACROSS makes a foray into interesting new developments and extensions to be presented in Cannes.

BY MORITZ FELIX LÜCK

Retail Parks and Digitalization: Evolution or Revolution?

Despite constant digitalization, brick-and-mortar retailing remains the dominant purchasing model.

Center Management
FOODSERVICE COLUMN

THE “FULL SERVICE” CIRCLE…

Most people who have worked in the hospitality industry understand the “full service” circle. This describes how we have to work hard for our guests to provide them with exactly what they want, whether in a restaurant, bar, or hotel, by working as a team.

THELEISUREWAY COLUMN

Place changers

theleisureway column by Gastón Gaitán.

Do you know your customers?

How Big Data, mobile devices and social media revolutionize traditional customer retention management.

BY JESÚS HERNÁNDEZ ESTEBAN

Big data and new metrics in shopping centers

Visitor traffic and sales are now insufficient for understanding a shopping center’s evolution. New metrics now prevail: tools that allow us to know more about our visitors and their behavior, such as how they interact with our brands and with other competing centers. Such insights are key in an environment of global economic digitalization.

THELEISUREWAY COLUMN

The Leisure Mosaic

It’s cooler here than in the square and the square has been left quiet by August, as the beach has become the destination. I confess, it’s the shade that brought me in.

The Role of Shopping Centers in a Sustainable Future Society

Initially considered the “icons of consumerist society,” shopping centers are now becoming lighthouses of energy efficient systems and sustainable architecture.

Retail

Opening of the BWT Flagship Store in Moscow

BWT, Europe’s leading company for water technology, with headquarters in Austria, entrusted Umdasch Shopfitting with the design of its first bricks-and-mortar brand world.

RETAIL TECHNOLOGY

Big brother reloaded | retail technology at intu

Audience recognition cameras in intu Victoria Centre in Nottingham will ensure that customers receive personalized content.

RETAIL TECHNOLOGY

Big brother reloaded | retail technology at intu

Audience recognition cameras in intu Victoria Centre in Nottingham will ensure that customers receive personalized content.

From Digital to Physical

Fashion brands lead the pureplay-to-omnichannel transition as the role of physical stores in the UK evolves.

Retail Technology: Launch of Hyper-Reality Experience

“Tick Tock Unlock” makes Trinity Leeds the first shopping center in the United Kingdom to provide a VR-powered hyper-reality experience to its customers.

“The complexity has increased enormously”

According to Martin Wendsche, Managing Director for ISG in CEE, lounge concepts and integrated gastronomy are now part and parcel of shopfitting.

Factory Outlets

Construction Works Underway for City Outlet Wuppertal

The Clees Group has officially started construction of the City Outlet Wuppertal. The preparatory measures have been running since July. From this point on, things should continue at full speed for the centrally-located project in Döppersberg, in the district of Elbersfeld.

First Outlet Center in the Ural Region

The first outlet center in the Ural Region of Russia will be opened for customers in Yekaterinburg on December 18, 2018.

HMSHost International Enters the Outlet Center Segment

HMSHost International, the world leader in food and beverage services for travelers, opened six new food & beverage outlets at McArthurGlen Designer Outlet Roermond in April. It signed a 10-year contract with an estimated valueof over €100 million.

“Eating is the new shopping”

HMSHost International entered the outlet center market last April. In an interview with ACROSS, CEO Walter Seib explained how he creates places to be for shoppers with appetite.

Parndorf Fashion Outlet — More Frequency with Style

Viennese Art Nouveau is the inspiration for the new designs of Austria’s Parndorf Fashion Outlet and Freeport Fashion Outlet. The outlet owners have further ambitions: purchases are planned across Europe.

Ready for Cannes

Neinver appointed Barbara Somogyiova as its new leasing director Europe at the beginning of September. In an interview with ACROSS, she revealed, among other things, that the company will present new projects and share the details of its tourism strategy at Mapic.

Investment

€335 MILLION CREDIT AGREEMENT – ALSO FOR WESTEND CITY CENTER IN BUDAPEST

Gránit Pólus Group has signed a credit agreement of €335 million with a syndicate of Erste Group Bank, Erste Bank Hungary Zrt., UniCredit Bank Hungary Zrt., UniCredit SpA, and K&H Bank Zrt. to refinance existing loans and provide a capex credit line for WestEnd City Center in Budapest.

Deutsche Hypo finances mall in Gdansk

Deutsche Hypothekenbank is financing Galeria Baltycka in Gdansk for the property company Shopping Center Galeria Baltycka GmbH and Co. KG sp.K.

“We want to expand our activities”

Commerz Real is putting out feelers for new shopping centers. In an interview with ACROSS, Katharina von Schacky, Global Head of Real Estate Markets Shopping, reports that purchase prices are somewhat unrealistic.

BY DIRK WOLLWEBER AND SONJA SCHRÖER

An Accounting of Operating Cost

Taking the personnel lift to counters or into the abyss of the performance search engine.

A South African in CEE

An example: Hystead recently purchased “The Mall” in Sofia, one of the largest shopping centers in Bulgaria.

Allianz finances Liffey Valley in Dublin

Acting on behalf of several Allianz entities, Allianz Real Estate has closed the financing for Liffey Valley in Dublin.

Studies & Reports

Non-Retail Tenants as Turbo

A report from the Urban Land Institute (ULI) and JLL finds that non-retail tenants - including F&B, leisure, and community amenities - have led to 28% estimated rental value growth, a 7.24% increase in footfall, and a 1% decrease in vacancy rates across 12 European malls in the past 12 months.

City Report Berlin – the place to shop

“Berlin is poor, but sexy.” That’s how Klaus Wowereit, then-mayor of Berlin, characterized the German federal capital in 2003. This mainly referred to the city’s massive debt, which then amounted to around €50 billion.

EUROPEAN RETAIL IN 2017

GfK study on key retail indicators: 2016 review and 2017 forecast.

ICSC

No “One-Size Fits All” Optimum Solution

The ICSC recently published its study “The Successful Integration of Food & Beverage Within Retail Real Estate.” Here is a summary of its findings.

International Retailers Are Focusing on Vienna

The Austrian capital is very popular with international retailers.

It Could Be Rosier…

Experts continue to fear a drop in sales in retail stores, falling demand for retail space, and store closures. That is the essence of the “4th Shopping Center Market Report Switzerland 2017.”