VOL. 8 | NO. 11 | Saturday, March 07, 2015

Businesses looking for office space in Nashville are learning a painful lesson that homebuyers already know prices are high, and if you take time to shop around for a better deal, someone else is likely to snap up the property, leaving you out in the cold.

Even finding available office space to lease in the first place can be a challenge.

At least 1 million people are expected to move to the region during the next 20 years, making Nashville one of the 10 fastest-growing Metro areas in the country, according to Forbes.

That growth has led to a widely publicized shortfall of homes for sale, at least in the most desirable neighborhoods where buyers line up to make offers and homes often sell before they officially hit the market.

Brentwood: 4.9% Cool Springs: 6% Downtown: 11.1% Green Hills: 4.3% Music Row/West End: 2.4% Rivergate/Hendersonville: 1.8% Airport North: 7.5% Airport South: 9.8% MetroCenter: 10.4%

Source: Colliers International

With all the publicity about Nashville and (the regions) low inventory, they have to make up their mind quickly or theyre going to miss it, says Lawrence Lipman, who leads the Lipman Group Sothebys International Realty.

Less well-publicized is a looming shortfall of top-quality office space.

Thats putting pressure on businesses to sign leases quickly and forget about asking for concessions like discounts or cash for remodeling the space.

More here:
Space Race

Allendale, NJ (PRWEB) March 05, 2015

Henschel-Steinau, the leader in retail marketing solutions, will introduce LumaNEXT, a new and innovative illumination system designed specifically for retail shopping environments, at GlobalShop 2015. LumaNEXT is marketed exclusively by the HS Illumination division of Henschel-Steinau. Areas of the companys exhibit space will be outfitted with LumaNEXT ceiling, vertical banner and display luminaires, providing attendees a first-hand experience of the design, operation, and light quality of this exclusive system. A range of the companys proven retail marketing portfolio and innovative merchandising solutions also will be on display.

The LumaNEXT System LumaNEXT is a patent-pending, plug-and-play, low voltage LED illumination system that delivers value to retailers in multiple ways, including simplified installation and maintenance, improved lighting, energy efficiency, intelligent sensors for daylight harvesting, analytics and substantial savings. Centralized Power Stations connected to control devices that can be strategically located throughout a store to deliver 24 Volt DC current to as many as two-dozen system devices. These include overhead solid state lighting, vertical graphic banner luminaires, suspended illuminated signs, illuminated perimeter wall displays, track lighting, and other back-lit merchandising displays.

Led Illumination with an Important Difference All LED illumination systems are not created equal, comments Patty Pellegrin, Director of Marketing for Henschel-Steinau. LumaNEXT is the first low voltage illumination solution that requires no transformer or ballast at the fixture level, streamlining installation and significantly reducing the need for costly, periodic maintenance. Plus, the system features a future-proof open architecture that enables system expansion and software updates. When compared to other LED lighting solutions, LumaNEXT can reduce operating costs associated with lighting by 25% or more.

Superior Quality Light and a Much "Greener" Bottom Line LumaNEXT represents the highest quality engineering and construction in illumination. Troffers feature a proprietary diffusor lens, and special coatings by White Optics produce greater reflectivity to help create a pure, natural light for the shopping environment, which has been attributed to increased sales. LumaNEXT also reduces utility consumption by up to 75%, achieving substantially lower energy costs when compared to traditional lighting systems.

Solar Compatibility and Title 24 Compliant LumaNEXT is solar power compatible with an integrated sensor option available for daylight harvesting and energy conservation. Its lighting control devices, luminaires and system components fully comply with the applicable requirements of Title 24 Section 110.9 of the California Building Energy Efficiency Standards for Residential and Non-Residential Buildings.

Smart Analytics" for Optimum Performance HS Illumination recently integrated smart sensor technology for real-time actionable data reporting on the system and its performances from Enlighted, the worlds most advanced digital sensor and analytics platform for smarter buildings. With this addition, light intensity within departments can be controlled, ambient light and temperature can be measured, and fixture outages and abnormal spikes in energy consumption are reported. Retailers also have the ability to analyze consumer foot traffic and shopping patterns, while setting brightness and energy output based on time of day to reduce energy use and associated energy costs.

From the Industry Leader in Retail Marketing For over 55 years, Henschel-Steinau has successfully developed and introduced innovative solutions that improve both the shopper and retailer experience. Pellegrin comments, The introduction of LumaNEXT is a natural extension of our companys mission to create impactful solutions for our retailer partners. Lighting plays such an essential role in the retail environment. With LumaNEXT, we are bringing retailers another in-store solution that, like many Henschel-Steinau innovations, is designed to measurably improve performance and reduce costs, while increasing sales.

In addition to LumaNEXT, Henschel-Steinau will be featuring its proven, high-performance line of EZ retail solutions at GlobalShop this year.

EZ LOAD Patented Shelf Merchandiser System The EZ Load Shelf Management System is simple to install and operate, and dramatically reduces stocking time with a front lens mechanism that enables one-handed re-stocking. The award-winning system automatically faces product to the shelf front, while effectively maintaining side-to-side product positioning, and giving the appearance of an always stocked shelf. Its dividers and pushers move independently with easy lateral slide-click motion adjustments. The exclusive design also provides a natural deterrent to theft, as it prevents sweeping.

Continued here:
Henschel-Steinau to Unveil New Retail Lighting Solution at GlobalShop2015

Representatives behind a proposal to expand the South Bay Mall to include new housing, retail, and a movie theater are making the rounds at a series of community meetings in Dorchester. On Monday evening, they spoke to members of the Columbia-Savin Hill Civic Association at the Cristo Rey High School on Savin Hill Avenue.

Emphasizing that the plan is still in its early stages, Keith Hague and David Germakian of Edens, the company behind the proposed shopping center expansion, sought input and answered community questions regarding transit, traffic congestion, and pedestrian access.

The success of the development is really going to be the access for pedestrians, vehicular access, not impacting neighborhoods, Hague told the 70 members of the civic association at the meeting. The same concerns had been raised at a meeting last week with the Citizens Connect South Bay group. We dont have all the answers now, but we have a lot of thoughts and a team of people working on it.

Edens, the operator of the existing South Bay Mall, has proposed the construction of several six-story buildings with roughly 115,000 square feet of commercial and retail space, a movie theater, a hotel with up to 200 rooms, some 500 units of multifamily housing, and two parking garages, all marbled by new roadways, sidewalks, and open space.

The project, initially outlined in a letter of intent filed with the Boston Redevelopment Authority (BRA) on Feb. 11, would fill in a 10.2-acre parcel of land between South Bay, and Enterprise, Boston, and Howell streets that today consists of a concrete plant, vacant buildings, and surface parking lots.

Bruce Shatswell was one community member who raised concerns about transportation both within the proposed mix-use development, and to and from the shopping center.

Southampton Street is woefully dangerous, he said in referring to the street marking the malls northern boundary. Southamptons curb-cut into the shopping complex is bisected by an on-ramp to Interstate 93 south, making it a treacherous intersection for pedestrians.

You have an opportunity and I think the city and state really has the responsibility to make it transit-friendly. Dont just do sidewalks, said Shatswell.

Another association member asked about the nature of new retail stores, expressing a concern about more big-box stores coming in to the shopping plaza. Germakian said the company spends a lot of time and energy trying to cultivate innovative retail.

On the housing front, Hague said it was difficult to anticipate what a market rate would be for the 450 to 500 units of housing proposed because it is in a niche area. Theres really nothing around the area such as this.

The rest is here:
South Bay Mall owners make case for expansion

04.03.2015 / 12:52

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IMMOFINANZ Group has completed a further retail project in Poland: the Tarasy Zamkowe shopping center, which is located in the center of Lublin, was officially opened in a gala ceremony today. On 38,000 sqm of space, it provides a combination of shopping, entertainment, relaxation and leisure time activities - and all this with a balanced tenant and branch mix. The investment costs totalled approx. EUR 115 million.

"One of our current focal points for our development activities are retail projects in Poland. The opening of Tarasy Zamkowe not only sets a further milestone, it is also an excellent example of our business model - the real estate machine. Following the highly profitable sale of the Silesia City Center in Katowice during 2013, we have increased our retail space in Poland by more than 71,000 sqm. And further projects in our STOP.SHOP. and VIVO! brands are currently under construction or in preparation", commented Eduard Zehetner, CEO of IMMOFINANZ Group.

The opening ceremony for Tarasy Zamkowe was attended by representatives of IMMOFINANZ Group, the city government, the general contractor Warbud and the architecture firm Stelmach I Partnerzy.

Tarasy Zamkowe provides space for 150 retail companies, restaurants, a number of cafs and snack bars as well as parking for 1,400 cars on three levels. It can also be easily reached by public transportation or bicycle and even on foot. In addition to the 350,000 residents of Lublin, the catchment area covers roughly one million people.

Numerous well-known international and local retailers are represented in Tarasy Zamkowe, including the Inditex Group with all its brands (Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home), the LPP Group (Reserved, Cropp, House, Sinsay, Mohito, Home&You, Tab), H&M, Media Expert, Delikatesy Alma, Super-Pharm, Rossmann Premium, !con Fitness (managed by Holmes Place), CARRY and Swarovski.

Unique award for sustainable construction The design of Tarasy Zamkowe combines unique architecture with high ecological standards. The green areas on the building's roof are a special highlight: grassy fields, lots of plants, walkways and lookout points - the most spectacular vantage point gives visitors a unique view of the old city and the historical castle. Public areas at the corners of the shopping center provide quiet space and settings for events. This sustainable approach has been internationally recognised: in autumn 2014, Tarasy Zamkowe became the first shopping center in Poland to receive the "BREEAM Excellent certificate for the design stage".

On IMMOFINANZ Group IMMOFINANZ Group is one of the leading listed property companies in Europe. The company is included in the leading ATX index of the Vienna Stock Exchange and also trades on the Warsaw Stock Exchange. Since its founding in 1990, the company has compiled a high-quality property portfolio that now comprises more than 470 investment properties with a carrying amount of approx. EUR 6.8 billion. As a "real estate machine" the company concentrates on linking its three core business areas: the development of sustainable, specially designed prime properties in premium locations, the professional management of these properties and cycle-optimised sales. IMMOFINANZ Group concentrates its activities in the retail, office and logistics segments of eight regional core markets: Austria, Germany, Czech Republic, Slovakia, Hungary, Romania, Poland and Russia. Further information under: http://www.immofinanz.com / http://blog.immofinanz.com / http://properties.immofinanz.com

For additional information contact:

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DGAP-News: IMMOFINANZ Group opens Tarasy Zamkowe shopping center in Lublin

Crews began tearing down the south end of the Wilmot Plaza shopping center last week. It was once home to R&S Mattress, Christies Appliance and Brawleys Restaurant.

The property is being demolished to make way for a 14,000-square-foot building that will house up to four retail tenants, said Alan Tanner, retail principal with plaza owner Bourn Cos.

We werent sure if we were going to remodel the premises or take it, raze it and reconstruct it, Tanner said. In the long run, it made more sense to demo the building and rebuild.

Bourn Cos. acquired Wilmot Plaza, on the northeast corner of Wilmot Road and East Broadway, in 2013 with plans to redevelop the 10-acre property with more than 140,000 square feet of retail space.

In June of 2014, crews began tearing down the northern half of the center, including the old Popular Outdoor Outfitters.

In November, Bourn announced that Dicks Sporting Goods would serve as the plaza anchor with a brand-new 50,000-square-foot facility.

Tanner said construction is already underway on the future Dicks. The goal is to hand it over to the Pennsylvania-based chain in August.

The three remaining plaza businesses, T.J. Maxx, Burger King and Good Ole Toms, will remain open during construction.

Tanner said T.J. Maxx is in the process of receiving a new exterior storefront.

Burger Kings current building will be torn down, but not before a new BK is constructed just north of the old location, on the southwest corner of the plaza.

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Part of Wilmot Plaza demolished for new tenants

Controversial changes to a retail development plan on North Bechtle Avenue have been unanimously approved by Springfield city commissioners.

The undeveloped land north of Walmart could see the addition of up to nine new stores, including two large anchor stores, expanding the already busy retail area. Construction could begin this spring.

Two weeks ago, residents spoke out against the plan to add more retail to the popular Springfield shopping area, fearing traffic and trash may overwhelm their neighborhood on nearby St. Paris Pike and Home Road.

No one spoke in opposition at a commission meeting Tuesday evening.

The original plan for the site was approved in 2006, meaning development was planned regardless of whether the changes were approved or not, said Mayor Warren Copeland.

Its not like were going back to nothing if we vote against it, Copeland said.

Two stores have agreed in principle to build at the new development, while a deal with another is close, according to Jim Peifer, the developers attorney. One of the possible tenants is a big box store, but no more information has been released.

One store rumored to relocate to the area is Hobby Lobby, which is currently located in the Springfield Plaza Shopping Center, 1390 Upper Valley Pike. However, Hobby Lobby spokesman Vince Parker said theyre very happy with their current location.

Its strictly rumor, Parker said. Were not moving that store and have no plans to move that store.

Development of the original 2006 plan was slowed by the recession.

More here:
Commissioners approve North Bechtle retail plan

CHICAGORetail development has hit its highest level since 2010. To meet the increased demand for retail project management JLL has just expanded its retail team by adding Bill Moston, a 30-year veteran, as senior vice president, national retail development. In his new role, the Chicago-based Moston will advise JLLs clients and execute ground-up retail projects, redevelopments and renovations across the US, as well as manage anchor store negotiations and tenant coordination.

Adding Bill to our development team will allow JLL to better advise its clients seeking to update or create new retail space, says Larry Jensen, senior director of retail development at JLL. His experience counseling and partnering with owners and investors on how to best align projects with market demand and retailer requirements will provide a huge advantage to JLLs clients.

According to JLL research, nearly 50 million square feet of retail spaces were delivered in 2014 with general retail space, including the construction of urban storefronts, driving the market. Mall construction has also grown significantly, with total US deliveries in 2014 rising nearly 43% year-over-year.

Shopping center owners and investors held off updating their centers during the downturn, but now were finally seeing these assets getting capital allocated for renovations or expansions, says Moston. I am thrilled to join JLL and look forward to growing the retail development business, and partnering with owners on their development and construction needs during this exciting time for the retail industry.

Moston started his career in retail at the Homart Development Co., and then led regional development and redevelopment teams for General Growth Properties for more than 10 years. In 2006, Moston jumped to the investment side of the business, and spent time at the Archon Group, a Goldman Sachs Co., where he sourced and developed retail investment opportunities. Most recently he served as a relationship manager at Credit Suisse.

Original post:
Moston Joins JLL as SVP/Retail

MASON CITY | The City Council will hear a presentation Tuesday night on a proposed downtown redevelopment project that includes a hotel,an ice arena/multi-purpose center that would occupy the space in Southbridge Mall being vacated by JC Penney, aperforming arts pavilion, parking ramp, apartments and retail space.

The city is expected to file a pre-application for money funded through the Iowa Reinvestment Act.

Here are answers to some frequently asked questions about the project.

Q: What is the total cost of the project and who is paying for what?

A:The total cost is estimated at $30.65 million. Here is how it is divided:

Marriott hotel: Private investment of $10 million by G8 Development, San Diego.

Parking ramp: $4.5 million. It would be owned and operated by the city with spaces for 200 to 250 vehicles. Of these, 110 would be leased to the hotel for use by employees and hotel guests. The remainder would be available to the public. Construction would be primarily funded through the tax increment financing district.

Apartments/retail building: $2.5 million. Private investment (G8).

Performing Arts Pavilion: $1.65 million. A citizens committee has raised $191,000. Additional private funding is being sought.

Ice arena/multi-purpose center: $12 million. The Mason City Youth Hockey Association has pledged up to $2 million in cash and equipment. Other funding sources include Reinvestment District revenues, $4.8 million; Local Option Sales Tax revenues, $1.2 million; tax increment financing, $3.5 million; and Cerro Gordo County, $500,000.

See the article here:
Answers to frequently asked questions on downtown project

MASON CITY | A co-branded Caribou Coffee will likely open by the end of this year as a part of the Hampton Inn & Suites project in Mason City.

Kinseth Hospitality said on Monday Caribou Coffee is a confirmed tenant in the retail portion of the project. It will be co-branded with Einstein Bros. Bagels, whose menu include a variety of bagels, sandwiches, salads and soups.

"We think that's an exciting thing," said Gary Kinseth, vice president of the North Liberty company.

Kinseth Hospitality, which owns 70 hotels in the upper Midwest, announced last year that it would be tearing down the Clarion Inn and replacing it with a Hampton Inn & Suites, retail space and a housing project.

Outside demolition of the Clarion Inn is expected to begin on Tuesday or Wednesday with construction of the new hotel and retail space to begin as soon as the weather permits this spring, Kinseth said.

The retail space, featuring two tenants, will be built along the frontage road with the hotel behind it.

Les Kinseth, president, said the company continues to search for a tenant for the other part of the retail space, which will include a fast-casual restaurant.

The company expects the retail building to be completed around September and said Caribou Coffee hopes to open in December.

The 83-room Hampton Inn & Suites is expected to be completed by spring 2016, with the housing development built within four years, according to a development agreement with the city of Mason City.

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Caribou Coffee, Einstein Bros Bagel hybrid to open in Mason City

A city of Napa report lists the following retail and commercial changes in downtown in 2014:

First Street Retail Corridor

In the west end of First Street, Empire Napa was renamed Methode Bubble Bar. At Napa Square, Studio M Fine Wines is nearing completion and set to open soon in the former Huether Art Gallery, and tenant improvements are underway for the UPS Store, relocating from its nearby location on Second Street.

Cadet Beer and Wine opened in August in the alley behind Anettes Chocolates. The Heritage/Capp Family Wine Tasting Room opened at 1245 First St., and Mustard Seed Clothing relocated to 1227 First St. from its longtime location across the street in Napa Center.

Shoes on First became Sole Desire in November, and Napa Cigar opened nearby.

NakedWines.com" href="http://NakedWines.com" target="_blank">NakedWines.com closed its tasting room and expanded its offices to larger quarters at the former Copia buidling. Ca Momi will open a second dining spot at the NakedWines.com site in the spring. Ca Momi will be reducing its space and operations at the Oxbow Public Market.

On Dwight Murray Plaza, Jax White Mule Diner and Shiro restaurants opened in February, and two former individual spaces were combined and major improvements completed for Atlas Social Restaurant, which opened at the end of the year. BurgerFi restaurant opened at the old Riverside Auto Garage location.

Several relocations and closures were prompted by the planned construction of the 183-room Archer Hotel and improvements to Napa Center, expected to continue through fall of 2016. Shahin Rug Gallery moved from First Street to Second Street, Boho Lifestyle Boutique temporarily moved to Second Street before finding a new home at 1390 First St., and Williamson & Co. Menswear moved to 1144 Main St.

Ceja Vineyards merged its First Street tasting room with a brewery and tasting room in Sonoma, and Cult Following and Wildcat Clothing reportedly plan to reopen at new locations. The Napa Center project got underway last spring, renovating common areas and building shell spaces to accommodate 40 future shops and restaurants in 130,000 square feet of upgraded retail space.

Riverfront

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Dozens of business changes alter face of downtown in 2014