Build it big and they will come

The country’s largest retail mega-projects are high stakes for developers

TRD MIAMI /
May.May 10, 2016 09:45 AM

From the National Retail Market ReportThe era of the traditional shopping mall may be coming to an end, but that doesn’t mean developers are giving up on large-scale retail developments.

To confront the reality of e-commerce and continue to attract customers to brick-and-mortar establishments, some developers are building bigger and more extravagant shopping centers than ever before.

In addition to having a greater diversity of stores and restaurants, these next-generation malls are relying heavily on entertainment to drive sales. Using amusement parks and fashion shows as well as world-famous architects and celebrity chefs, the top retail developers are now selling an experience with retail present, and not the other way around.

“The merger of entertainment and retail is critical,” said Todd Caruso, senior managing director of retail services at global real estate services firm CBRE. “It’s no longer an impulse kind of retail experience; it’s a clear destination. If you get the right location it does work.” [more]


Related Articles

arrow_forward_ios
Nitin Motwani, Sankesh Abbhi and 1016 Northeast Second Avenue (Google Maps)

Miami Worldcenter developer sells site to Abbhi Capital for $24M

Miami Worldcenter developer sells site to Abbhi Capital for $24M
Miami Worldcenter Managing Principal Nitin Motwani and a rendering of the project

Developer buys Miami Worldcenter site for mixed-use project

Developer buys Miami Worldcenter site for mixed-use project
Dan Kodsi and Legacy Hotel & Residences

For future pandemics, Miami Worldcenter plans $60M health center

For future pandemics, Miami Worldcenter plans $60M health center
Vladislav Doronin (Credit: Gesi Schilling via Wikipedia)

Billionaire developer Doronin buys Fort Lauderdale assemblage for $63M

Billionaire developer Doronin buys Fort Lauderdale assemblage for $63M
Seth Wise, Co-CEO of The Altman Companies, Altís Ludlam Trail

Altman scores $55M construction loan for Ludlam Trail project

Altman scores $55M construction loan for Ludlam Trail project
Joseph Swedroe (Corcoran, iStock)

Corcoran agent in Miami loses job over “racist and fear-based” marketing

Corcoran agent in Miami loses job over “racist and fear-based” marketing
Vanessa Grout with Vladislav Doronin

Vanessa Grout leaves Ugo Colombo’s firm to lead OKO Group’s real estate arm

Vanessa Grout leaves Ugo Colombo’s firm to lead OKO Group’s real estate arm
Rendering of the project with Jon Paul Pérez (top) and Jorge Pérez 

Related switches gears on Terminal Island project, now plans low-rise offices

Related switches gears on Terminal Island project, now plans low-rise offices
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...