Developers should think beyond brick-and-mortar and aesthetics of the property, to reach their audience, investors, or guests at an experiential level.
For store sales that have occurred since the auctions began, the prices have ranged anywhere from $10 to $500 per sq. ft., an industry source says.
Howard Schultz reportedly told Starbucks employees that the retail sector was reaching a point where landlords of even prime centers would need to lower rents.
Well-executed placemaking relies on the engagement and support of the neighborhood, so naturally, it’s important to understand what the community values.
Starbucks runs its own stores, and with retailers wilting across the U.S., landlords stuck with vacant storefronts are starting to cut rents.
After years of double-digit increases in rents, high street retail landlords are in the second year of double-digit declines.
Cap rates for properties occupied by high-quality tenants, such as 7-Eleven, have achieved cap rates between high 4 percent and low 5 percent in the fourth quarter of 2017.
