{"id":1004109574,"date":"2014-12-17T11:57:16","date_gmt":"2014-12-17T19:57:16","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004109574"},"modified":"2022-12-08T10:30:17","modified_gmt":"2022-12-08T18:30:17","slug":"kimco-predicts-positive-retail-trends-for-2015","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/kimco-predicts-positive-retail-trends-for-2015\/","title":{"rendered":"Kimco Predicts Positive Retail Trends for 2015"},"content":{"rendered":"

By Keith Loria, Contributing Editor<\/i><\/p>\n

\"Conor<\/a>

Conor Flynn, Kimco Realty<\/p><\/div>\n

The National Retail Federation has predicted that purchases during the 2014 holiday shopping season were going to increase\u00a04.1 percent over last year.<\/p>\n

In response to the report, Kimco Realty further predicted that next year the retail market will remain strong, as retailers continue\u00a0to\u00a0tailor the shopping experience\u00a0and personalize it for consumers.<\/p>\n

\u201cWe expect an increase in new store openings led by major discount and off-price retailers and the fast casual restaurants,\u201d Conor Flynn, Kimco Realty\u2019s president, COO & CIO, told Commercial Property Executive<\/i>. \u201cThere will continue to be interest from traditional outlet tenants that will consider relocating to power centers, which generally offer lower occupancy costs. In addition, we believe that the declining gas prices will benefit the consumer and lead to an increase in spending which is good for retail.\u201d<\/p>\n

However, Kimco expects new construction in the sector to be constrained and is looking very selectively at some ground-up development opportunities.<\/p>\n

\u201cWe expect that for the near future, new supply will remain constrained, with some \u2018green shoots\u2019 of new development starting to spring up over the next three years,\u201d Flynn said. \u201cWe still see redevelopment opportunities as our best use of capital at the moment. The catalyst for these new development and redevelopment projects are being driven by the demand from junior anchor box tenants as most public strip center companies, including Kimco, are between 97-98 percent occupied in spaces greater than 10,000 square feet.\u201d<\/p>\n

Turning to smaller businesses, the mom-and-pop retailer, especially those in the service sector, are forecasted to return to the open air shopping centers, enhancing their abilities to connect to the local communities.<\/p>\n

\u201cThis is evidenced by our Q3 results, which showed that over 50 percent of our new leases signed in that quarter were with pure mom and pop retailers,\u201d Flynn added. \u201cWe\u2019ve found that community banks are more open to provide financing for small business entrepreneurs than in the past several years. In addition, as some housing markets have stabilized, there are more opportunities for business owners to utilize home equity financing to help them fund their business.\u201d<\/p>\n

A new trend that\u2019s emerged of late is online retailers opening brick-and-mortar stores.\u00a0This, according to Flynn, will create an \u201comni-channel\u201d presence that\u2019s here to stay.<\/p>\n

For example, eyeglass retailer Warby Parker opened retail locations and showrooms in 11 cities, men\u2019s footwear brand Jack Erwin opened its first store in TriBeCa, and Microsoft has opened locations throughout the country to showcase its new products.<\/p>\n

\u201cBonobos, Rent the Runway, and Plated are three more examples. Now with Amazon opening its first brick-and-mortar store in New York City, omni-channel retailing is showing itself as the new normal for retail,\u201d Flynn said. \u201cAs the lines blur between enclosed malls, outlet malls, power centers, grocery centers, and online and mobile channels, retailers are finding new ways to innovate and engage consumers. Shoppers want the ability to buy a product online, pick it up in the store, or have their local store ship it to their house, if they so choose.\u201d<\/p>\n

As for other trends to keep an eye on for 2015, Flynn said to monitor corporate responsibility and sustainability programs, which are becoming the industry standard.<\/p>\n

\u201cWe have a few new programs in the works for 2015, including our Illumi-Nation lighting enhancement project, and we believe you\u2019ll see our peers making strides on this front as well, as more investors demand it, and landlords and tenants start to see the benefits,\u201d he concluded. \u201cInvestors are not the only ones with an increased focus on more than just the bottom line\u2014shoppers are now increasingly health-conscious and environmentally aware.\u00a0We expect you\u2019ll continue to see an increase in tenants offering fitness services, specialty wellness goods, and organic foods and other products, again further enhancing the tenant mix at open air centers.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

In response to The National Retail Federation’s end-of-the-year shopping predictions, Kimco Realty forecasts that next year the retail market will remain strong, as retailers continue to tailor the shopping experience and personalize it for consumers.<\/p>\n","protected":false},"author":451,"featured_media":1004109576,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37301],"tags":[],"class_list":["post-1004109574","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"\nKimco Predicts Positive Retail Trends for 2015 - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/kimco-predicts-positive-retail-trends-for-2015\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kimco Predicts Positive Retail Trends for 2015\" \/>\n<meta property=\"og:description\" content=\"In response to The National Retail Federation's end-of-the-year shopping predictions, Kimco Realty forecasts that next year the retail market will remain strong, as retailers continue to tailor the shopping experience and personalize it for consumers.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/kimco-predicts-positive-retail-trends-for-2015\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-12-17T19:57:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T18:30:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/12\/Conor-Flynn.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"347\" \/>\n\t<meta property=\"og:image:height\" content=\"229\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/kimco-predicts-positive-retail-trends-for-2015\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/kimco-predicts-positive-retail-trends-for-2015\/\",\"name\":\"Kimco Predicts Positive Retail Trends for 2015 - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/kimco-predicts-positive-retail-trends-for-2015\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/kimco-predicts-positive-retail-trends-for-2015\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/12\/Conor-Flynn-e1693231476516.jpg\",\"datePublished\":\"2014-12-17T19:57:16+00:00\",\"dateModified\":\"2022-12-08T18:30:17+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/aaa29b723dad85f2444ae3cb0c4d735f\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/kimco-predicts-positive-retail-trends-for-2015\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/kimco-predicts-positive-retail-trends-for-2015\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/kimco-predicts-positive-retail-trends-for-2015\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/12\/Conor-Flynn-e1693231476516.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/12\/Conor-Flynn-e1693231476516.jpg\",\"width\":305,\"height\":229,\"caption\":\"The transaction will deepen Kimco's presence in Coastal and Sun Belt markets, commented Kimco CEO Conor Flynn. 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