ACROSS | The European Retail Real Estate Magazine

Ticker

TH Real Estate secures €700m for European Cities Fund

TH Real Estate has completed a first close of €500m for its European Cities Fund – its new European diversified core, open-ended fund.

Ticker

Sponda to sell a shopping centre in Moscow

The property investment company Sponda Plc is selling the Solnechniy I shopping centre situated in Moscow to LLC IT Development at a price of approximately USD 11 million, corresponding to the property's fair value at the end of June.

Ticker

GRIMM’S FAIRY TALE CHRISTMAS IN THE SHOPPING CENTER DEZ IN KASSEL, GERMANY

The city of Kassel offers a whole range of historic monuments and locations, and is especially famous because of the brothers Grimm, who spent a good thirty years of their lives in the city during their “most active and possibly most fruitful times of their working lives”.

Topics
Cover Story

European Retail in 2016

GfK study on key retail indicators: 2015 review and 2016 forecast

Opinion

City development: The challenges of meeting stakeholders’ expectations

From having been the owner and principal of an architectural service firm in North America to a member of a large, multi-disciplinary, European architectural practice, I have had the welcome experience of working on commercial and retail projects on multiple continents.

Events

EUROPE GRI 2016, September 14-15, Paris

Connecting European & Global Real Estate Leaders

Development

“Our tenants know what our brands stand for”

Immofinanz is expanding rapidly in Central and Eastern Europe with its VIVO! shopping centers and STOP SHOP retail parks. In an interview with ACROSS, COO Dietmar Reindl explains the underlying brand strategy.

Center Management

Going global

In my last article, I talked about the need to introduce new operators into our industry, to allow the smaller operators and companies access into the world of shopping centers, and to support them as they grow.

Retail

Applications for Participation in “First Store by Alexa” Now Open

The Alexa shopping center in Berlin is celebrating its 10th anniversary in September 2017. That’s reason enough for Sonae Sierra, Union Investment and Alexa to launch an innovative retail casting competition.

Factory Outlets

Poland’s outlet centers are facing a transformation

According to a report prepared by BNP Paribas Real Estate Poland, over the next couple of years, the outlet center market will see growth in the form of 22,000 sq m of new supply.

Investment

“Investors want to benefit from specialist sector knowledge”

Shopping center investors have manifold expectations of their asset managers. Steffen Hofmann, Founder and CEO of iMallinvest Europe, knows all the specifics from his daily work.

Country Report

Glasgow: the Shopaholic’s Paradise

In an interview with ACROSS, Frank McAveety, Leader of Glasgow City Council, explains how the City Center Strategy protects and progresses the retail offer.

Studies & Reports

Shopping centers in Moscow will decrease

The annual volume of new Moscow shopping centers will decrease to 460,000 sq m in 2016. Almost 90% of 2016 completions will come from postponed projects.

advertisement
Cover Story
Advisory Board

ACROSS Has an Advisory Board

Top industry players who contribute their expertise in identifying and formulating topics. A body that has its finger on the pulse of the market. “ACROSS - The European Retail Real Estate Magazine” recently gained just such an asset in the form of a high-caliber advisory board.

Ratings & Review

Top Executives about ACROSS Magazine…

ACROSS Magazine was launched 5 years ago and has firmly established itself on the European market as an international specialist publication for the retail real estate sector.

Outlet Shopping

Why outlet center operators are increasingly seeking to emancipate themselves from the “factory” image and why large investors now also like to “shop” there.

Zsar Outlet

For shoppers and tourists

Zsar Outlet Village is taking shape in the Finnish city of Vaalimaa. The developer EFRE is working on the project with a holiday resort going up nearby.

8 TRENDS YOU SHOULD FOLLOW

Conversion of shopping centers into communities, new blended rental models, and other topics the top players in the European shopping center industry have placed on their agendas for 2016.

Openings 2016

The European market for retail real estate remains dynamic. The coming year will again see many malls, department stores, and retail parks open their doors. ACROSS showcases a few select projects.

Opinion
BY ALEXANDER OTTO

Destination Food

Why is everybody talking about food in shopping centers this year? Because it matters, of course.

BY MARCUS WILD

The New Generation of Shopping Centers Makes Room for Hospitality

In recent years, a new generation of shopping centers has developed with a particular focus on consumers’ culinary needs.

BY ANNA KOZINA

Bundling Together the Shopping Center Industry’s Innovative Powers

What does the future expect from us and what do we expect from the future? No other industry is as influenced by people as retailers and the shopping center industry.

BY THOMAS ROSE

An ambitious future?

At Cushman & Wakefield, we are fortunate to have a client base broadly equally split between landlords and tenants; this position provides us with insight into both market trends and what both parties want in the real estate conversation.

By Trevor Pereira

How insight drives intu forward

With an unrivalled digital offering, an annual footfall of 400 million and two thirds of the UK’s shopping population living within 45 minutes of one of our centers, intu’s scale means we don’t just see the big picture, we are the big picture.

By Jörg F. Bitzer

New Rental Models: Fantasy for the Distant Future or Already Reality?

The topic of “advertising associations in shopping centers” has gained considerable attention in recent weeks. According to the press, German shopping center operator ECE is about to renegotiate 10,000 leases in Germany. For legal reasons, it is replacing the existing “advertising associations” with “advertising councils.”

Events

ITALIA GRI 2016, NOVEMBER 8-9, MILAN

ITALIA GRI is a get-together of senior investors, lenders and developers. Much like a conversation in your own living room, the discussion format Enables you to interact and engage. Quickly find the right partners for your business, build high value relationships, and keep the conversation afterwards.

ACROSS ACADEMY Seminar: Security and Crisis Prevention for Shopping Centers, October 13, 2016, Vienna

Professional answers and recommendations to counteract potential terroristic dangers. International and instantly applicable expert know-how. Find out what you can do now!

EUROPEAN COMPLETELY RETAIL MARKETPLACE, SEPTEMBER 6, 2016, AMSTERDAM, NETHERLANDS

The Completely Group recently announced the launch of the first European Completely Retail Marketplace, to take place in Amsterdam on September 6, 2016.

ITALIA GRI 2016, NOVEMBER 8-9, MILAN

ITALIA GRI is a get-together of senior investors, lenders and developers. Much like a conversation in your own living room, the discussion format Enables you to interact and engage. Quickly find the right partners for your business, build high value relationships, and keep the conversation afterwards.

EHI RETAIL DESIGN CONFERENCE 2016, SEPTEMBER 14 – 15, DUSSELDORF, GERMANY

The EHI Retail Design Conference will take place on September 14 and 15 at the Intercontinental Hotel in Dusseldorf.

GERMAN COUNCIL CONGRESS 2016, September 14-16, BERLIN

Some 500 decision-makers from retail and business come to the German Council Congress at Hotel Adlon in Berlin each year.

Development

Towards a shopping destination

The declared aim of the Mall of Switzerland, which opens its doors in the fall of 2017, is to become a destination and a favorite, both for tenants and visitors.

Projects & Openings International

The Merdeka PNB 118 development was recently launched by Malaysian Prime Minister Datuk Seri Najib Tun Razak, paving the way for a new icon on Kuala Lumpur’s skyline.

This autumn, IKEA Centres is to open two shopping centers in Europe

IKEA Centres is IKEA Group’s global shopping center company. Together with IKEA stores and other tenants, IKEA Centres creates inspiring and family-friendly meeting places for many people. This autumn, the company will open two shopping centers in Europe, the first in Brescia, Italy, and the second in Bayonne, France.

66,000 sq m of GLA for Palma

“FAN Mallorca Shopping,” Carrefour Property’s largest real estate project currently underway in Europe, opens in September.

By Toni T. Jörgens

From Places to Experiences—Integrated Design by Storytelling

Why it’s becoming important to link the architectural, interior, and brand design into one “integrated design” process as the shopping center industry moves to create places as experiences.

PREMIUM BRANDS IN THE BEST COMPANY

When it opens its doors in autumn 2017, the Mall of Switzerland will offer a unique mix of shopping experiences, enriched by a variety of fun leisure opportunities.

Center Management

From the Garage to the World

20 years ago, Austrian Klaus Mark founded MK Illumination together with his wife Marie. Half a year later, his twin brother Thomas also joined the company, who remains to be the third partner and shareholder to this day. MK Illumination designs innovative and custom festive lighting, decoration and interactive Worlds for shopping centers on six continents.

Why Central Tenders Will Fail

MK Illumination has decorated shopping malls for nine years. Klaus and Thomas Mark report among other things in an interview on the growing demands for their concepts.

BY MORITZ FELIX LÜCK

Brand Management for Retail Parks

Brand building is still the exception rather than the rule for retail parks. But that’s changing.

By Gastón Gaitán

Leisure through the looking glass

Meeting point, family experience, lifestyle center, wow, more than shopping, dynamism, part of the community. Words, words, words… Believe it or not, all of them talk about leisure, but need to be organized and planned accordingly. How? Let’s discover together.

12 Ps

Toolkit for effective marketing in retail property

Why one needs to understand the 12 Ps of marketing the retail property to show a value of one’s activity and help the industry to thrive in the long term.

Gastronomie

Percentage of foodservice space rising sharply

Food courts are increasingly important success factors for shopping centers. Customers particularly appreciate good, fast food and a variety of offerings.

Retail

“Alexa has stood for new, different, and innovative from the outset”

The “First Store by Alexa” contest gives wings to new business ideas. Fabian Hellbusch, Head of Marketing at Union Investment Real Estate GmbH, and Jens Horeis, Head of Property Management at Sonae Sierra Germany, tell ACROSS all about it in an interview.

“It’s hard to communicate concepts without real added value for customers”

As a member of the “First Store by Alexa” jury, Jens Peter Klatt, Head of Multichannel at Mister Spex, insists the participants must offer a unique customer experience.

RETAIL TECHNOLOGY

Shopping trend: Prepaid cards

It is important for retailers in shopping centers to offer state-of-the art payments. Payment methods and behaviors are changing. Prepaid cards are one of the shopping trends that meet the needs of modern consumers and they are becoming increasingly popular. The concept of gift cards is especially highly rated. For malls, they are a way to ensure customer loyalty by offering their own individualized gift cards. SIX Payment Services has issued its 1 millionth prepaid card and will continue to focus on them.

RETAIL TECHNOLOGY

Umdasch’s ESL.inclusive Launched in a Spar Store in Vienna

Spar is entering a new era of price labeling with Umdasch Shopfitting. ESL.inclusive was initiated by Umdasch Shopfitting's newest corporate division, viBIZ—Digital Shopfitting—developed together with Spar and Imagotag. Its first installation was launched in Spar’s store on the campus of the Vienna University of Economics and Business.

A Samsung Store as a Reference

Samsung’s store in Paris is a high-end shop for electronic products that sets standards for equipment and design. Umdasch Shopfitting is therefore proud to have been selected by the Korean company as a partner.

Brands are continuing to expand

The seventh edition of “How Active Are Retailers Globally?” prepared by CBRE, looks at the target markets for over 150 international brands based in the Americas, Asia Pacific, and the Europe, Middle East, and Africa (EMEA) region.

Factory Outlets

Outlet Shopping

Why outlet center operators are increasingly seeking to emancipate themselves from the “factory” image and why large investors now also like to “shop” there.

Zsar Outlet

For shoppers and tourists

Zsar Outlet Village is taking shape in the Finnish city of Vaalimaa. The developer EFRE is working on the project with a holiday resort going up nearby.

Outlet Shopping

Why outlet center operators are increasingly seeking to emancipate themselves from the “factory” image and why large investors now also like to “shop” there.

Movement on the Largest Outlet Center in the Czech Republic

The Prague Outlet will count 30,000 sq m of GLA. The investor’s stated aim is to develop a premium offering, with light and airy interiors encompassing a host of designer and high street brands.

Joint venture for Designer Outlet Algarve established

Ikea Centres and the Mutschler Group signed a joint venture agreement for the development of Designer Outlet Algarve.

Blackstone and Multi purchase Palmanova Outlet Village

Multi recently announced the acquisition by Blackstone Real Estate Partners Europe IV of Palmanova Outlet Village, a 22,000-sq-m, high-quality outlet center located between Trieste and Venice.

Investment

Investments in Department Stores – Potential Tops Returns

German department stores are good investments - if you recognize the development opportunities, that is.

Investment News

ACROSS EU 2016 Investment News

BY STEFFEN HOFMANN

KEY PERFORMANCE INDICATORS III – Let’s talk about lease length!

An important metric used by real estate investors to measure the overall tenancy risks of multi-tenant properties like shopping centers is the Weighted Averaged Unexpired Lease Term.

Investment News

ACROSS EU 2015 Investment News

86 Deals in One Year

UK shopping center transactions surpass long-term average to reach £4.3 billion (€5.57 billion) in 2015

The investor carousal is turning. Property companies were the most active investor type in the UK, acquiring 34 shopping centers.

By Stephan Austrup and Angela Goodings

Transferring shopping centers into tomorrow’s world

While structural trends will continue to alter the retail landscape, it is important to “marry” global demographic trends with the localized nature of malls.

Country Report

More than just a shopping center

The current largest shopping center development project in Switzerland is the Mall of Switzerland in Ebikon, near Lucerne. ACROSS wanted to ask Marcel Stoffel, Managing Director of the Swiss Council of Shopping Centers (SCSC), how he views the project and what he sees as the future prospects for the Swiss shopping center industry.

Poland: Highest Annual Volume of Transactions in History

Transactions in the retail sector were dominant last year, accounting for around 55% of the total volume.

Focus on the Swiss Shopping Center Market

There are currently 189 shopping centers in Switzerland with sales area greater than 5,000 sq m. This includes five largest railway stations and airport shopping in Zurich/Kloten. Last year, there were just 182 centers.

Top Locations, Austrian Capital Getting Even More Interesting

Luxury labels pay “connoisseur’s price” of more than €400 per sq m per month for prime addresses in the center of Vienna.

Belgium’s Impressive Pipeline

No grand openings were celebrated in the Benelux country last year. This year and the following years will be different.

Further Revival of the Polish Tenant Market

TriGrant has spotted a wave of activity in the Eastern European Country.

Studies & Reports
FREE DOWNLOAD

European Retail in 2016

GfK study on key retail indicators: 2015 review and 2016 forecast

London ahead of Paris and Munich

According to Redevco, these are the top three most attractive European retail destinations. It is notable that soft factors continue to drive city performance.

New ECE Food & Beverage Study:

40 % of visitors choose a shopping center based on the available dining options

ECE has published new study on development of food & beverages at shopping centers. Restaurants and food courts have been an important trend at the centers for a while.

The management of retail parks needs radical rethinking

At Expo Real, MEC Metro-ECE Centermanagement and its proven partners Corpus Sireo, Dr. Lademann & Partner, GfK, TH Real Estate, and, for the first time, Savills, presented the third edition of “Retail Parks in Germany.” The report centers mainly on customer focus. The most important finding: a complete rethink is required to provide consistently customer-oriented management of retail real estate.

Moscow now outstrips Paris in shopping center supply

The shopping center vacancy rate in the Russian capital has increased from 6.5% to 7.5%.

GfK study on retail conditions in 32 European countries

GfK has carried out a comprehensive analysis of the European retail scene in 32 European countries. The study examines purchasing power, the retail share of the population's total expenditures, inflation, sales area productivity as well as changes in retail due to eCommerce, as well as a turnover prognoses for 2015. The study will appear in the forthcoming edition of ACROSS Magazine, which will be published in June.