MOVING IN
Top 10 retailers in shopping centers opened in 2005
Starbucks Coffee
29 Locations
Avg. Store GLA: 2,300
Avg. Center GLA: 409,400
Quizno's Classic Subs
25 Locations
Avg. Store GLA: 1,600
Avg. Center GLA: 215,800
Target
25 Locations
Avg. Store GLA: 124,800
Avg. Center GLA: 501,800
PetsMart
23 Locations
Avg. Store GLA: 21,700
Avg. Center GLA: 519,700
Bed, Bath & Beyond
22 Locations
Avg. Store GLA: 26,200
Avg. Center GLA: 531,900
Subway
22 Locations
Avg. Store GLA: 1,600
Avg. Center GLA: 345,900
EB GAMES
21 Locations
Avg. Store GLA: 1,600
Avg. Center GLA: 416,400
Lowe's Home Improvement
21 Locations
Avg. Store GLA: 136,000
Avg. Center GLA: 483,900
Ross Dress for Less
20 Locations
Avg. Store GLA: 29,800
Avg. Center GLA: 480,700
Wal-Mart Supercenter
20 Locations
Avg. Store GLA: 196,300
Avg. Center GLA: 511,600
RETAIL REMAINS ROSY
When Active International polled real estate professionals, asking them to characterize the retail leasing and investment conditions, those who responded were overwhelmingly positive. The vast major of respondents ranked conditions excellent, very good and good for all categories. Just 1 percent rated regional, power center and community retail investment poor. Active International polled 1,490 transaction professionals of Grubb & Ellis as well as 167 consultants, bankers and other involved in commercial real estate. The chart doesn't include respondents with no opinion.
WINDOW SHOPPING — ONLINE
More than 43 percent of shoppers polled by Motricity, a mobile content provider, and Greenfield Online said they sometimes research what they want to buy in a retail store online. Almost 15 percent said they always research online to find the best product, price and supplier. Only 5.9 percent said they never research shopping plans online ahead of time.
THE BIERI REPORT: NEW YORK
| NEW YORK | |
|---|---|
| SHOPPING CENTER | RANKING |
| Americana | C |
| Broadway Mall | B- |
| Galleria at White Plains | B- |
| Green Acres | B- |
| Jefferson Valley | B |
| King Plaza Shopping Center | A |
| Nanuet Mall | C |
| Palisades Center | A |
| Queens Center | A |
| Roosevelt Field | A |
| Smith Haven | A |
| South Shore Mall | B |
| South Street Seaport | B |
| Staten Island Mall | B+ |
| Sunrise Mall | C |
| The Westchester | A |
| Woodbury Commons | A |
New York is the center of fashion and commerce in the United States. Long before shopping centers were developed in the metro area, many retail businesses flourished in Manhattan on Fifth Avenue and Madison and 57th streets, housing the finest flagships of the world. These areas provide a magnet to wealthy residents and tourists from around the world.
New York has a rich retail history, in both the downtown and the outlying suburbs. Outside Manhattan there are many powerhouse centers, such as Roosevelt Field, Queens Center and Kings Plaza. Americana has always been known for its luxury retailers. Woodbury Commons is home to the nation's best outlets.
The information presented for traffic estimates and regional malls is gained from a variety of sources used in developing the Bieri Market Reports. These sources are public and private, and may even include the developers themselves. When traffic counts are not available, grades are determined by reviewing sales of anchor stores and specialty tenants within a subject project, and then comparing those with like projects.
EAT IT UP
The U.S. restaurant industry will have a strong year in 2006, the 15th consecutive year of real growth for the industry, according to the National Restaurant Association's 2006 Restaurant Industry Forecast. “With the strongest gains in overall employment, disposable income and population growth, states in the West and in the South are expected to lead the nation in restaurant sales growth in 2006,” said Hudson Riehle, senior vice president of the Association's research and information services division. “The restaurant industry in Nevada will grown more than any other state, followed by Arizona, Florida, Colorado, and Texas. Nationally, restaurant-industry sales are expected to increase by 5.1 percent.
RESTAURANT GROWTH BY STATE
Listed below are states ranked by restaurant-industry sales in billions of dollars and, in parenthesis, the percentage of sales growth over 2005.
| STATE | SALES (% GROWTH) |
|---|---|
| Alabama | $4.98 (4.8%) |
| Alaska | $1.05 (5.8%) |
| Arizona | $7.40 (8.1%) |
| Arkansas | $2.87 (5.8%) |
| California | $51.49 (6.2%) |
| Colorado | $7.56 (8.1%) |
| Connecticut | $4.79 (6.8%) |
| Delaware | $1.26 (4.2%) |
| District of Columbia | $2.02 (5.4%) |
| Florida | $24.01 (6.9%) |
| Georgia | $12.59 (5.9%) |
| Hawaii | $2.83 (4.6%) |
| Idaho | $1.44 (6.4%) |
| Illinois | $17.06 (4.4%) |
| Indiana | $7.95 (3.8%) |
| Iowa | $3.02 (3.7%) |
| Kansas | $3.21 (4.6%) |
| Kentucky | $5.07 (4.5%) |
| Louisiana | $4.84 (-8.8%) |
| Maine | $1.67 (4.8%) |
| Maryland | $7.68 (5.6%) |
| Massachusetts | $11.22 (4.6%) |
| Michigan | $12.36 (4.1%) |
| Minnesota | $6.99 (5.9%) |
| Mississippi | $2.72 (3.5%) |
| Missouri | $7.76(5.0%) |
| Montana | $1.10 (4.5%) |
| Nebraska | $2.05 (4.9%) |
| Nevada | $3.73 (8.9%) |
| New Hampshire | $1.96 (5.4%) |
| New Jersey | $11.29 (5.8%) |
| New Mexico | $2.44 (5.6%) |
| New York | $25.54 (5.7%) |
| North Carolina | $11.18 (6.2%) |
| North Dakota | $0.65 (4.2%) |
| Ohio | $15.45 (4.1%) |
| Oklahoma | $4.20 (5.2%) |
| Oregon | $4.99 (5.6%) |
| Pennsylvania | $14.53 (4.8%) |
| Rhode Island | $1.72 (5.3%) |
| South Carolina | $5.56 (4.8%) |
| South Dakota | $0.90 (5.6%) |
| Tennessee | $7.76 (4.6%) |
| Texas | $29.98 (6.7%) |
| Utah | $2.72 (6.4%) |
| Vermont | $0.76 (4.3%) |
| Virginia | $10.20 (5.9%) |
| Washington | $8.27 (5.8%) |
| West Virginia | $1.86 (4.3%) |
| Wisconsin | $6.24 (4.7%) |
| Wyoming | $0.66 (4.8%) |
| Source: National Restaurant Association, 2006 Restaurant Industry Forecast | |