ACROSS | The European Retail Real Estate Magazine

Ticker

All-day restaurant haven, The Alchemist, arrives in the North East

The highly fashionable restaurant chain, The Alchemist, is opening a brand new all-day restaurant at intu Eldon Square’s new catering development, Grey’s Quarter, in its first foray into Newcastle and the North East.

Ticker

Deutsches Shopping-Center Forum 2016: 10-11 May 2016, Kameha Grand Bonn

Deutsches Shopping-Center Forum (DSCF), founded by GCSC and EHI Retail Institute, a professional platform for networking and sharing ideas in this business sector.

Ticker

MEC leased over 60,000 sq m in 2015

MEC METRO-ECE Centermanagement GmbH & Co. KG looks back on a successful year 2015 in terms of leasing performance.

Topics
Cover Story

Target Group: Tourists

How shopping centers are discovering tourists as customers.

Opinion

A brand-led mindset

In John Hegarty’s book on Advertising he refers to a favourite quote of mine “A brand is the most valuable real estate in the world – a corner of a consumer’s mind.” I believe the shopping centers we build and manage today are brands in their own right.

Events

Deutsches Shopping-Center Forum 2016: 10-11 May 2016, Kameha Grand Bonn

Deutsches Shopping-Center Forum (DSCF), founded by GCSC and EHI Retail Institute, a professional platform for networking and sharing ideas in this business sector.

Development

A Breath of Fresh Air for the City Center

Redevco is creating Promenade Sainte-Catherine, an open-air shopping precinct, in the heart of the French metropolis Bordeaux.

Center Management

The New Language of Leasing

The beginning of a new year is always an exciting time. Around the world, there is a sense of starting again, having a clean slate on both a personal and professional level, and, of course, looking forward to the next 12 months.

Retail

Do you understand the young shoppers?

Shopping behavior as a success factor of the bricks-and-mortar retail trade.

Factory Outlets

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.

Investment

Key Performance Indicators (KPI), part II

Generating investment performance in European shopping centers.

Country Report

Further Revival of the Polish Tenant Market

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

Studies & Reports

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.

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Cover Story

“You have to grab tourists where you find them”

Around seven million tourists visit Alexa on Berlin’s Alexanderplatz annually. ACROSS asked Center Manager Oliver Hanna why.

Factory outlet centers | Investors’ passion for brands

Factory outlet centers are attractive due to high expected returns in unsaturated markets, but the failure rate is significant.

First outlet center for France’s Grand-Ouest

Honfleur Outlet is the new shopping destination for Normandy. Phase 1 of the 18,000-sq-m project is to open its doors in spring 2017.

Russia: In love with outlet centers

Strong interest from retailers and customers’ positive views of outlets mean a bright future for Russia’s outlet centers. There is potential to launch 25 to 30 new projects in the next 10 to 15 years.

The outlet market in Poland

The traditional shopping center market in the country appears to be becoming saturated and investors are now seeking other “niche” retail formats.

In the Park

Why more and more investors want retail parks in their portfolios and why this special property type is so alluring.

Opinion
BY ZOE ELLIS-MOORE

Starting a new conversation with marketing

The retail property industry is missing a trick when it comes to marketing. Ironically, marketing has an image problem.

BY JULIAN LONG

Is it just me…

…or does Christmas come around faster and faster each year!?

BY IAN HOBSON

Flat battery, flat sales? The impact of nomophobia on retail

With 93% of UK adults using a mobile phone in 2014, according to Ofcom, and a wealth of evidence showing our rising emotional dependence on mobile devices, it is becoming increasingly important for retail property owners and retailers to recognize mobile device usage in store and adapt accordingly.

BY REINHARD WINIWARTER

How well do you really know your customers?

I had the privilege of taking part in several select industry events and expert discussions over the last few weeks. Again and again, my interlocutors engaged in lively discussions about the future of retail and the shopping center industry. Rightly so: The technologization and digitization of retail in the last decade has been a quantum leap.

BY HENRIK MADSEN

PRIDE OF PLACE: THE FUTURE OF OUTLETS IN GERMANY

Once again, Germany has come out on top as the country where brands are most eager to find outlet space, according to a report released at Mapic by ecostra. Its annual survey of mainly fashion brand manufacturers put Germany as their No. 1 destination, with 59% of all responses.

BY RAINER STILLER

Sustainability in Shopping Malls – Is It Just an Empty Phrase?

In the planning and implementation of sustainable building, the objective of a balanced project to profit environment, people, and economy is in the foreground.

Events
What will you find at the Deutsche GRI 2016?

Deutsche GRI 2016 Frankfurt 9-10 May

Deutsche GRI is a gathering of senior level German and international real estate investors, lenders and developers.

British GRI 2016 London 3-4, May

Join UK’s Lea​ding Real Estate Investment Leaders

Why Attend a GRI Meeting? Global Real Estate Institute - Real Estate Investors & Developers World Wide

12th Annual International Conference on Real Estate Development

The traditional Twelfth Annual International Conference on the Real Estate Development will be held on April 20 & 21, 2016 in the Esplanade Zagreb Hotel, Croatia.

ICSC European Outlet Conference, March 22, London

Three of ICSC's 2016 events, the European Outlet Conference, SPREE Europe and Retail Connections are taking place at the Business Design Centre in London from 22-23 March 2016 to allow cross-participation for attendees of each event.

12th German Commercial Real Estate Convention, January 26 – 27, 2016 in Berlin

The German Commercial Real Estate Convention (Deutsche Handelsimmobilien-Kongress) will take place on January 26 and 27, 2016, at swissôtel Berlin “Am Kurfürstendamm.”

Development

Ruhr Park reloaded

Unibail-Rodamco invested €150 million in the modernization of this traditional shopping center in Bochum. It is now positioned as one of the leading lifestyle destinations in the Ruhr region.

21,000 square meters more

Fischapark in Wiener Neustadt recently presented its new dimensions. The operator, SES Spar European Shopping Centers has invested over €100 million in a refurbishment and expansion project at this traditionally successful trading location in Southern Lower Austria over the past three years.

Shopping center development in the UK is increasing

The UK shopping center development pipeline currently stands at 890,000 sq m to the end of 2018, according to research published from DTZ.

MAPIC SPECIAL

Star-Spangled Projects

The United States is the “Country of Honor” at this year’s MAPIC. ACROSS reveals a selection of the retail projects in the Land of Opportunity that will be presented in Cannes.

MAPIC SPECIAL

Remarkable Developments

As in past years, the top players in the industry are providing a glimpse at their current retail projects at MAPIC in 2015. ACROSS makes a foray into the most extraordinary new developments, extensions, and refurbishments to be presented in Cannes.

REFURBISHMENT

Retail Meets Culture

The Ringstrassen Galerien in the heart of the Austrian capital are among the country’s top retail areas. The turnover per square meter has for years been well above the average for Austrian shopping centers. Now the site has been prescribed a comprehensive facelift. The future Opera Mall Vienna (its new marketing name) will be positioned as “The Home of Affordable Luxury.”

Center Management

Switching on in Frankfurt

MyZeil’s “enchanted forest” sets new standards in Christmas shopping productions. MK Illumination is responsible for the concept and implementation.

Leisure as a differentiating element

With a case study conducted in Spain, theleisureway shows how a shopping center can become “ideal meeting point”

A Lesson in Foodservice Economics

As we move into the final months of 2015, our business is seeing yet more strong indicators that the foodservice industry, gastronomy, and horeca, is on the rise and will continue to be so in 2016 and beyond. In simple terms, life is getting “better” for many people and this shows in the way they consume.

Christmas for individualists

Festive Christmas decorations and shopping centers are now inseparable. The creation of highly emotionally charged habitats adapted to the respective mall is central to the philosophy of First Christmas. A matter of views.

Concentrating its presence in countries

Many retailers do not have retail parks on their radar. The concentration principle Immofinanz is following with its Stop.Shop. chain will change all that. Nicolas Fernandez de Retana, the new Director Asset Management Retail Europe, explains how it works.

How an airplane raises visitor frequency

theleisureway is dedicated to the creation of leisure experiences in shopping centers. A case study carried out by the Spanish company shows how it optimizes malls’ leisure offers for children and raises visitor numbers.

Retail

From luggage to bags

Samsonite wants to keep innovating. In an interview with ACROSS, Graham Carter, Vice President Direct To Consumer, explained how a recent deal has increased the company’s commitment to shopping centers.

When shop windows tell stories

In an interview with ACROSS, Michael Scheithauer, CEO of the internationally active Barthelmess Group, explains the increasing importance of visual marketing and why facades will become ever more vital in the future.

Turnover turbo for shops

The mobile app shopkick aims to turn shopping into a kind of mini vacation. ACROSS spoke with shopkick co-founder and CEO Cyriac Roeding about bonification systems and the future of retailing.

“Viewed globally, we’re focusing on Asia”

According to Tanja Nedwig, Marketing & Communications Director of Cross Jeans, the denim market is benefitting from the current oversupply. It makes the market interesting, since differences can and must be underscored. In an interview with ACROSS, she explains that the company also plans to expand into Scandinavia, the UK, and Asia.

“We go with the local market leader”

Carlos Romero is responsible for international expansion for the Spanish fashion chain El Ganso. In an interview with ACROSS, he explains that the first store in a city is usually opened in a high-street location. Only after that do they move into the mall, and by that they mean the local market leader.

GERMANY, TURKEY, AND THE BRIC COUNTRIES

Head of Representation Expansion at Decathlon Germany Ludger Niemann explains in an interview with ACROSS that the company is currently focusing on Germany, Turkey, and the BRIC countries. The business concept works better in power centers with good transport connections than in shopping centers.

Factory Outlets

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.

Serravalle Designer Outlet grows

Europe’s largest luxury designer outlet, Serravalle Designer Outlet, near Milan, one of 20 McArthurGlen Designer Outlets across Europe, recently announced its expansion.

Start of phase 2 in Dalton Park

Dalton Park in Murton (County Durham) celebrated the official start to its Phase 2 development with a traditional “groundbreaking” ceremony on June 19, 2015, with local dignitaries and project team members.

The Aim: European Market Leadership

Amsterdam The Style Outlets plans to open its doors in 2017. With this project, Neinver takes a further important step in its growth strategy in the outlet sector.

An outlet center for Wuppertal

Wuppertal, a city of around 350,000 inhabitants, is getting an outlet center. It will be the largest in Germany. The investment amounts to €120 million.

Investment
BY ALICE BREHENY

Where is best to invest?

In a new research report, TH Real Estate provides a summary of the European retail property market and explores the opportunities that the sector offers investors across the UK and the Continent.

Germany: Big deals drive the investment market

The transaction volume for retail real estate nearly doubled in the first half of 2015 compared to the previous year, reports JLL.

Lar España’s investment fever

Miguel Pereda, Board Member of Lar España, announced new transactions over the upcoming months in an interview with ACROSS. The Spanish company intends to invest more than €1 billion before the end of this year.

€730 million deal in the Netherlands

Wereldhave makes a defining move on the Dutch market with the acquisition of nine shopping centers from Klépierre.

Ankkurikadun Kiinteistöt Oy formed

Kesko Corporation, the Swedish life insurance company AMF Pensionsförsäkring AB, and the Ilmarinen Mutual Pension Insurance Company have agreed to set up a joint venture called Ankkurikadun Kiinteistöt Oy with equal shares.

Blackstone acquires three shopping centers

Blackstone Real Estate Partners Europe IV announced that it acquired an additional three assets in Portugal and Spain, which will be managed by its European retail platform, Multi Corporation.

Country Report

Latvia: projects postponed, but not cancelled

In the “Real Estate Market Report 2015 – Baltic States,” experts at Ober-Haus examine the Latvian retail real estate market, among other places.

“Marketing plays a key role”

In March 2010 Eurovea opened in the Slovak capital. Olga Hammer, PR & Marketing Manager of the mixed-use-property, explains how they built awareness for their brand.

Inside Bratislava

Stable returns and consistently good economic forecasts currently make the Slovakian capital particularly attractive. Developers remain reticent when it comes to creating new space, however.

AMAZING CENTERS BEYOND EUROPE

Singapore’s first naturally-cooled mall

This is made possible by leveraging the porousness of The Star Vista’s design, which encourages air movement and created a naturally cool environment in the common areas.

Starting Shot for a Mall in Lviv

Multi has developed Forum Lviv in the eponymous western Ukrainian city under exceptionally difficult circumstances. It is 95% let.

Ukraine’s Retail Real Estate – Survival Strategy

Unsurprisingly, project development in the country has been interrupted. But in Kiev alone, about 20 malls with around 1 million sq m of GLA are currently at various stages of completion, possibly opening in 2017-2018, according to UTG.

Studies & Reports

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.

A Pleasing Increase

According to CBRE, global shopping center development continues to accelerate, with a total of 11.4 million sq m of space opening in 2014 compared with 10.6 million sq m in 2013.

The “European Top 50 Retail Development & Operator” ranking is out

ECE won it, coming in just ahead of Westfield. Despite a neck-and-neck race, the two top-ranking competitors in the brand value study carried out by the Eureb Institute differ significantly from each other.

A LOOK AT THE DANISH CAPITAL

Sadolin/Albæk takes a close look at the metropolis on the Øresund and its surroundings in “Copenhagen – Property Market Report 2014.” It examines the retail segment, too.

SHOPPING CENTERS AND MARKET DEVELOPMENT IN FINLAND

The shopping center business in the Scandinavian country has reached its 30-year anniversary. It is not yet a mature sector, but it is an area with continuous development.