NEWS
Vestar Selected to Manage the Shops of Legacy North in Plano, Texas
Vestar has been retained by CTO Realty Growth, Inc. as the asset management company for The Shops at Legacy North.
READ MOREWhy Tech Companies Are Flocking to The Gateway
Downtown Salt Lake City is experiencing an unprecedented urban renaissance within the tech sector. New office-sharing concepts have been introduced and former retail space is being rapidly transformed into bustling hubs of business activity. At the center of establishing downtown’s emerging startup and technology scene, The Gateway introduced Recursion Pharmaceuticals and Kiln Co-Working Space in fall 2018 with more than 125k square feet of new office space.
READ MOREShopping Centers Today Big Gains for Small Shops
Small-shop tenants took a hit when credit dried up after the 2008 financial crisis. Now, a decade later, some landlords are reporting record-high occupancies and rents for these operators, generally defined as those leasing space of 10,000 square feet or less. The gains are attributable to a robust economy and to such trends as consumer obsession with beauty, health and fitness, experts say.
READ MORELandlords and Ridesharing Companies Pursue Synergies
Expect to see more partnerships between ridesharing companies and shopping center landlords. In the past, these parties have teamed up to promote discounted or free rides, often during the holiday season or for special events — but only temporarily. Today they are entering into longer-lasting agreements for designated drop-off and pickup locations, typically highly visible through signage. And they are offering riders promotions or discounts as well as introducing lounges and driver hubs into the properties.
READ MORERetail Apocalypse? Strategic Planning Helps Valley Shopping Center Thrive in Competitive Market
There seem to be ways around the so-called “retail apocalypse,” but it means more work and spending more money for the owners and operators of shopping centers.
READ MOREVestar Retools Retail Units as State-Of-The-Art Experimental Space
As the retail sector continues to react to the rise of e-commerce platforms — as well as to changes in consumer spending habits and broader economic trends — developers and landlords are increasingly repurposing their retail spaces, according to privately-held shopping center owner and property manager Vestar.
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Vestar Reaches Portfolio Benchmark with Bay Area Acquisition of East Washington Place for $55 Million
Vestar, one of the largest privately held shopping center owners in the western United States, just got bigger. With its purchase of East Washington Place, a more than 340,000-square-foot shopping center in Petaluma, California, Vestar’s portfolio has crossed the 30 million-square-foot threshold.
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