ACROSS | The European Retail Real Estate Magazine

Ticker

ST. MODWEN EXCHANGES CONTRACTS WITH WANDA HK FOR THE SALE OF NINE ELMS SQUARE FOR £470M

St. Modwen Properties PLC announces that VINCI St. Modwen (“VSM”), its 50/50 joint venture with VINCI plc, has exchanged contracts for the sale of its interest in the 10-acre Nine Elms Square site in Nine Elms, London to Wanda Commercial Properties (Hong Kong) Co Ltd (“Wanda HK”), for a cash consideration totalling £470m. Completion is expected to occur later in the summer, following demolition of the former flower market.

Ticker

Thor acquires retail space at 18 Conduit St. in London

Thor Equities, a global leader in urban real estate development, leasing and management, has signed a contract to acquire the retail space at 18 Conduit Street in London, company executives announced on June 23, 2017.

Ticker

LUDOVIC CASTILLO, APPOINTED CHAIRMAN OF THE MANAGEMENT BOARD OF ALTAREA COMMERCE

Ludovic Castillo, 52, has been appointed Chairman of the Management Board of Altarea Commerce.

Topics
Opinion

T1 Mall of Tallinn - Future shopping centers should connect people

Just more shops, or landmarks, connectivity and indoor public space? T1 Mall of Tallinn opens in October 2018 with 55,000 sq m of leasable area and following the latest industry trends.

Events

EXPLORING RETAIL 2017, JUNE 26-27, HAMBURG, GERMANY

CREATING NEW IN-STORE REALITIES is the slogan at the Exploring Retail conference in Hamburg.

Development

The Second-Hand Shopping Center

ReTuna Återbruksgalleria, a mall specializing in second-hand goods, recently opened in the Swedish town of Ekilstuna.

Center Management

Tally 4.0

The history of counting customer frequency appears to lead to blanket Wi-Fi coverage. This makes it all the more surprising that coherent Wi-Fi strategies are still the exception rather than the rule among German retailers.

Retail

From Digital to Physical

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

Factory Outlets

PREMIUM RETAIL OFFERING AT PRAGUE THE STYLE OUTLETS

Prague The Style Outlets will introduce the international platform The Style Outlets into the Czech Republic. Refurbishment works are now underway to create a premium outlet destination.

Investment

Strong Annual Growth in Germany

Around €3.8 billion were invested in the German retail market in the first three months of 2017.

Studies & Reports

EUROPEAN RETAIL IN 2017

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

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Opinion
PEOPLE

PEOPLE IN THE EUROPEAN RETAIL REAL ESTATE INDUSTRY

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

BY NIKOLAS LÖHR

How Bricks-and-Mortar Centers Fight Back

In an increasingly busy world, consumers are becoming more and more selective about how they spend their precious time and money.

BY MARCUS NEUMANN

The Three Types of Shoppers

While digitalization is a central topic in all economic sectors, its impact can best be observed in the retail sector.

BY JOSÉ LUIS DEL VALLE

NEW TRENDS IN SPAIN’S SHOPPING CENTER MARKET

Investment in the Spanish real estate sector has grown steadily in the last few years as the economy has recovered from the crisis.

BY LUCA CIAFFONI

The Italian Restyling Challenge

According to the French anthropologist Marc Augé, if a space can be defined as relational, historical, and concerned with identity, then it is a “place”—if not, it is a “non-place.”

BY CARLOS GONZÁLEZ

Sustainability on the rise

Sustainability has earned an important role in the retail property sector in recent years and sustainability goals are now a pillar of outlet centers’ strategies.

Events

CEOs OF HUDSON’S BAY COMPANY, HELLOFRESH, DOLLAR SHAVE CLUB MATCHESFASHION.COM AND WESTFIELD TO HEADLINE SHOPTALK EUROPE

Shoptalk Europe, the new large-scale event that is leading the development of a modern European and global retail and ecommerce conversation and community of innovators, announced its agenda featuring 130+ confirmed speakers.

SIEC17 RETAIL & REAL ESTATE EXHIBITION 2017, JUNE 21-22, PARIS, FRANCE

Under the aegis of the Conseil National des Centres Commerciaux (French Council of Shopping Centers), Siec is an anticipated and recognized business event for all French and European industry players.

9th German Big-Box Real Estate Congress 2017, October 23 – 24, Dusseldorf, Germany

The 9th German Big-Box Real Estate Congress (Deutscher Fachmarkt-Immobilienkongress), with the motto “Information creates the future,” will be held at the Van der Valk Airporthotel in Dusseldorf on October 23 and 24.

Shoptalk Europe 2017, October, 9 – 11 Copenhagen, Denmark

Shoptalk was launched in the USA last year as an event for retail and ecommerce innovation. Starting with 3,000 attendees in 2016, it grew to 5,500 attendees in just its second year.

Expo Real 2017, October 4 – 6, Munich, Germany

The real estate industry is booming in 2017 and there is great interest in Expo Real in Munich from October 4 to 6 — ideal conditions for successful networking and specific business deals. The focus will be on technological innovation and digitalization.

Completely Retail Marketplace Nordics, October 24, 2017, Stockholm, Sweden

Facilitating entry or expansion for brands in the Nordic market, this new cross-border European retail property event will be held at The Brewery Conference Centre Stockholm.

Development

Focusing urban crosspoints

For Marcel Kokkeel, CEO of Citycon, the future lies in the “perfect match” between commerce and communities.

CityLife Shopping District: Opening in Milan on November 30

The CityLife Shopping District in Lombary’s metropolis will measure 32,000 sq m GLA. Sonae Sierra says it will be Italy’s largest urban mall.

Swiss Uniqueness

The Freo Group is responsible for the Mall of Switzerland’s project development and marketing. In an interview with ACROSS, Nikolas Löhr, Director of Retail Marketing, explained what makes the shopping center special with respect to its leisure facilities.

BY BILL KISTLER

Driving an Urban Renaissance

A city center location is always more complicated, expensive, and time-consuming for new retail projects than an alternative on the periphery. Despite these hurdles, investors and developers have created projects across Europe that not only serve existing markets but are also catalysts for growing demand and transforming cities.

Projects & Openings Europe

FRANCE Créteil Soleil | GERMANY Löhr-Center and PEP | ITALY Adigeo | POLAND Forum Gdańsk and Janki | RUSSIA Riviera | SERBIA Ada Mall | UNITED KINGDOM Eden Walk and The Glass Works

“Still space for unique projects”

According to Marcin Materny, member of the management board and managing director of the retail department at Echo Investment, there is no potential for traditional shopping centers in Poland. The reason is that the time has come for focusing on spectacular projects like the company’s “Towarowa 22.”

Center Management
THELEISUREWAY COLUMN

DRIVING LEISURE INNOVATION

Innovation is a “buzzword”—and buzzes around theleisureway’s studio like a bee in a car.

Foodservice Column

IT IS ALL ABOUT PLEASURE…

Foodservice Column by Jonathan Doughty, Regional Director & Head of JLL Foodservice Consulting.

Digital Prospects for Shopping Centers

Around 50 retail real estate industry experts met in Frankfurt for the second “innovation incubator.” The theme of the workshop hosted by the German facility services expert Wisag was “Digital prospects for shopping centers and retail properties.”

The new power couple

How to build a stronger relationship between developers and retailers.

THELEISUREWAY COLUMN

Circling the square

Are you sitting comfortably? Are you relaxed, open to ideas? Willing to disconnect and get some “you time”? Let theleisureway (TLW) take you away.

Foodservice Column

IT IS ALL ABOUT PEOPLE…

Foodservice Column by Jonathan Doughty.

Retail

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.

Holymesh as Winner of the “First Store by Alexa” Competition

Alexa visitors and Facebook fans, along with an expert jury in a final session, evaluated three finalists from the “Best Newcomer” category.

Paradigm Shift in City Centers

Online retail is increasingly shaking up tenant mixes in Europe’s cities. The bricks-and-mortar trade is desperately seeking innovative concepts.

RETAIL TECHNOLOGY

Security monitoring included

Hardware, software, analysis—the holistic “smart tracking” solutions developed by the Digital Retail experts at Umdasch Shopfitting provide extensive information about customer behavior in shopping malls and stores.

Interactive, Individual, Impressive

An international jury of experts commissioned by EHI and Messe Dusseldorf bestowed the most convincing store concepts with the EuroShop Retail Design Award again this year.

Factory Outlets

“The Outlet Market Quickly Identifies Weak Projects”

According to Bożena Gierszewska-Mroziewicz, Head of Neinver Poland, outlet centers are moving forward to offer a complete experience that responds to growing expectations.

“Gastronomy offer is a win-or-lose issue”

What customers have long demanded of malls is now being demanded of designer outlets. They must offer customers more than shopping, says Henrik Madsen, Managing Director Northern Europe at McArthurGlen, in an interview with ACROSS.

Rioja Developments and Buckminster work together

Designer Outlet Village in Grantham planned.

Everything’s New at Fashion Outlet Parndorf

Parndorf Fashion Outlet, located between Vienna and Bratislava, is undergoing a comprehensive relaunch. A new Art Nouveau style, new roads and entrances, new retail space, and a new center management self-run by the owner should multiply customer frequency.

Designer Outlet Roermond in front

Designer Outlet Roermond, located directly on the border with Germany, won multiple prizes in this year’s “Outlet Center Performance Report Europe.”

Building permit for Barbarossa – Hesse’s first downtown outlet center

JOH will be transformed into Barbarossa. The old department store in Gelnhausen will be a modern outlet center by the spring of 2018.

Investment

MAS Heads for Bulgaria

The company reports that the continuous increase in purchasing power in the region underpins the investment case in general and that for its acquisitions of Galleria Burgas and Galleria Stara Zagora in particular.

Popular Stockholm

According to Savills, the Swedish capital is currently the most attractive destination in Europe for shopping center investments due to its reputation as a “safe haven” and its relatively affluent population.

Clearly weakened indicators of investment

BNP Parisbas Real Estate recently published “At a glance: UK shopping center & out of town retail market, December 2016.” One of the headlines is that investment volumes fell by around a third compared to 2015 for both the retail warehousing and shopping center markets.

Investors Increasingly Focusing on Retail Parks

Investment in German retail properties is declining. The transaction volume is increasing significantly only in retail parks. Retail parks currently offer good investment opportunities in the UK as well.

Retail Asset Management as a Holistic Approach

According to Stephan Austrup, Head of Retail in Germany at TH Real Estate, omni-channeling and digitalization are key drivers of change. In all acquisitions and in business plans for existing portfolios, he therefore considers the impact of this change on retail formats, retailers’ required floor plans, and whether the property provides the necessary layout flexibility.

“Emotions can of course arise toward a building”

TriGranit recently sold Bonarka City Center (BCC). CEO Árpád Török spoke with ACROSS, among other things, about a very eventful 2016.

Studies & Reports
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.”

Polish Stagnation

According to Colliers International’s “Poland Market Insights—Annual Report 2017,” only about 400,000 sq m of new retail space was created in 2016. This is one third less than in 2015. Around 400,000 sq m are expected for this year as well.

The Successful Integration of Food & Beverage into Shopping Centers

In order to provide the retail and leisure industry with guidance and insight to navigate the opportunity posed by F&B, the ICSC commissioned JLL to carry out a global study. It should provide a holistic, 360-degree view of the current landscape, challenges, risks, opportunities, and future outlook for foodservice within the shopping center space.

22 Centers Identified as Prime Examples of the Growing Trend of Retail Placemaking

Effective retail places use leisure, technology, and planning to lure shoppers, who now want shopping to be both functional and social.