Report: Mall Giant Sees No Downturn in Store Openings

Report: Mall Giant Sees No Downturn in Store Openings

Inflation worries aren’t stopping retailers from opening new stores. Simon Property Group, the nation’s largest mall owner, said the pipeline of new businesses slated to open up at its properties remains strong. “Even with what’s going on in the world, we really haven’t seen anyone back out of deals of note at all,” David Simon, Chairman, President and CEO, Simon Property, said on an earnings conference call. He added that the company was seeing a big rebound in Las Vegas and that Florida “is on fire.” To date this year, retailers in the U.S. have announced 4,432 store openings, compared with 1,954 closings, according to data from Coresight Research, resulting in a net of 2,478 openings, reported CNBC. Read More…(Source: Chain Store Age – CSA - https://bit.ly/3BYYWGf

JLL Secures $585M Funding for Massive Mixed-Use Development in Boston Area

A new mixed-use life science campus that includes housing and retail will be a welcome addition to Boston’s expanding lab market. JLL has secured $585 million in financing for the construction of a 580,905-sq.ft. development in Boston’s Allston neighbourhood Allston LabWorks, located on 4.27 acres at 250, 280 and 305 Western Ave., will be comprised of life sciences retail and multi-housing space. Once the project is complete, it will feature 534,000 sq. ft. of lab space; 20,000 sq. ft. of retail space; 35 multi-housing units, 26% of which will be affordable. It will also include a 12,000-sq.-ft. a public plaza with an additional 5,000-sq.ft. landscaped open space and 668 garage parking spaces. Read More…Source: Chain Store Age – CSA - (https://bit.ly/3BZ0kbV)

KFC Australia Pilots Drone-Delivery Service in Queensland

In an Australian-first, KFC has enlisted a drone delivery company to bring Zingers and other fried faves to homes and workplaces in the Logan area between Brisbane and the Gold Coast. Wing, owned by Google parent Alphabet, launched in Canberra in 2019 in a world-first, and in Logan the following year. Since then, suburbs within a 10km radius have been having burgers, groceries, pharmacy items, hardware products, coffee and other products zoomed in via 5kg styrofoam drones that can carry up to 1.5kg. Under a pilot program kicking off on Friday, the world’s most famous fried chicken brand will initially be available to a small number of households in the Southeast Queensland suburbs of Kingston, Logan Central, Slacks Creek, Underwood, and Woodridge. Read More… Source: Retail News Asia (https://bit.ly/3PetCqb)

NYE & RGP Development and Siam Piwat Join Hands in a Strategic Deal to Manage “Park Silom” Project

NYE & RGP Devt Co., Ltd., a collaboration between NYE Estate Co., Ltd., and Minor Intl PCL, inks a strategic deal with Siam Piwat Co., Ltd. for a retail asset management and property management for “Park Silom”, a premium mixeduse project in the heart of Silom under the theme “New Breed of Silom.” The retail space spans over 5-storeys of the total 39-storey mixed used project that recently won prestigious international awards. The retail concept is envisioned to be a ‘one-of-a-kind retail experience,’ that caters to the lifestyles of office occupants along with Thai and international tourists with high purchasing power. The collaboration between the three property and retail industry leaders will establish “Park Silom” as a new landmark in Silom - the prospering economic neighbourhood by introducing a new lifestyle that responds to the multi-dimensional ways of living. Read More…Source: Nation Thailand (https://bit.ly/3AbAu3h)

Reliance Brands ‘Well Positioned’ to Tap India’s Luxury Apparel Market

Reliance Brands Limited (RBL) is “well positioned” to capitalise on the growing luxury market after forging partnerships with highend brands, GlobalData reported. “Balenciaga joins RBL’s portfolio of 40 international fashion brands, providing the retailer an edge in the $1.1 billion Indian luxury apparel market,” Bobby Verghese, Consumer Analyst at GlobalData, said. According to GlobalData, Asia accounted for 31% of Balenciaga’s global sales, making it the brand’s second largest market, next to Western Europe. This is particularly led by China, Japan, and South Korea. “Through the partnership with Reliance Brands, Balenciaga will gain access to the conglomerate’s strong brand name and nationwide network of nearly 600 stores and 750 shop-in-shops across India,” Verghese also said. Read More…Source: Retail News Asia (https://bit.ly/3dlts2I)

Lewis Retail Centers to Build 169,590 SF Town Center at The Preserve in Chino, California

Lewis Retail Centers has unveiled plans to build Town Center at The Preserve in Chino, a city in Southern California. The retail and office development, which will span 169,590 square feet, is slated to open in summer 2023. Town Center at The Preserve will be situated within a master-planned community named The Preserve at Chino and adjacent to multifamily units. The pedestrian-friendly development will feature Main Street-oriented retail space, as well as open spaces for gatherings and events. The office space will be positioned on the second level, above the street-level retail space. KTGY is the project architect. Stater Bros., a privately held supermarket chain based in San Bernardino, Calif., will serve as the grocery anchor tenant.. Read More…Source: Rebusiness Online (https://bit.ly/3BQU8CS)