RETAIL EXECS RANK HIGH ON FORBES 400

The home improvement business does well by its executives, who placed high on Forbes' list of wealthiest individuals as did other big-box execs.

rank
51 John R. Menard Jr.
Menard's Home Improvement
$3.7 billion
79 Richard M. Schulze
Best Buy
$2.5 billion
106 Bernard Marcus
Home Depot
$2 billion
165 Michael Krasny
CDW Corp.
$1.5 billion
234 Arthur M. Blank
Home Depot
$1.2 billion
234 David Green
Hobby Lobby
$1.2 billion
361 Leon Levine & Family
Family Dollar Stores
$840 million
Source: Forbes magazine

THE BIERI REPORT: CLEVELAND

Cleveland, on the southern shore of Lake Erie, is working hard to redevelop its mature downtown. Due to the efforts of local landlords, this initiative is meeting with a certain amount of success. Avenue Tower City Center, despite recently losing its important retail anchor, is lively and well tenanted. The retail mix, plus a mass transit station, contributes to the center's ongoing viability. In the suburbs, Southpark Center is the newest and strongest retail development. Beachwood Place, with the region's largest concentration of better stores, continues to establish market standards. The Beachwood area gained further importance with the addition of Legacy Village, an outdoor project combining great home stores, good restaurants and big-box tenants. A number of older retail properties are continuing to lose market share to the more dominant centers featuring better assortments and quality in their mix of specialty stores. On the west side, where better-quality retail businesses are trying to become established, Eton Collection, an outdoor center, is now under construction.

CLEVELAND FOOT TRAFFIC
SHOPPING CENTER RANKING
Great Lakes Mall B+
Southpark Center B+
Beachwood Place B
Avenue Tower City Center B-
Legacy Village B-
Richmond Town Square C
Aurora Premium Outlets C
Midway Mall C-/D-
Parmatown Mall C-/D+
Westgate Mall C-/D+
Randall Park Mall D+
Great Northern Mall D

GLOBAL LAND LOVERS

WORLDWIDE TOP 10 REAL ESTATE SECTOR PERFORMANCES
Country Stock Exchange % Change Over Jan-Sept 2004
1. Spain Bolsa Madrid 25.4%
2. Japan Tokyo Stock Exchange 25.0%
3. U.K. London Stock Exchange 19.1%
4. Italy Bolsa Italiana Group 18.7%
5. Norway Oslo Bors 16.7%
6. Sweden Stockholm Borsen 16.0%
7. South Africa JSE Securities Exchange 15.3%
8. Australia ASX 13.3%
9. Singapore SGX 9.7%
10. USA NYSE 9.5%

Source: ResearchWorldwide.com

The real estate boom isn't limited to the U.S. Real estate sectors on 16 stock exchanges around the globe have averaged a 9.9 percent increase for the first nine months of 2004, according to ResearchWorldwide.com. This far outstrips the S+P Global Equities Index, which registered only a 1.2 percent increase year-to-date. Research Worldwide.com also reports that housing markets remain strong, with 13 out of the 22 countries monitored currently having double-digit annual increases in house prices.