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June 16, 2022

In A Sign Department Stores Aren't Dead, Macy's To Open Two-Story Location In South Suburbs

Chicago Healthcare & Life Sciences To Be Hosted At 8030 Lamon Avenue Aug. 11

A former Carson’s in Evergreen Plaza, a shopping center in south suburban Evergreen Park, is slated to become a two-story Macy’s, containing both the department store chain’s newer and smaller-format stores.

In A Sign Department Stores Aren't Dead, Macy's To Open Two-Story Location In South Suburbs

The 120K SF space will include a Market by Macy’s, a smaller version of the department store and the first Chicago-area location, and a Macy’s Backstage, the retailer’s off-price chain launched in 2015. The former Carson’s store closed in 2020 and has been vacant since.The lease deal comes amid…

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5 Years Later: Amazon’s Whole Foods Buy A Study In Hubris And Determination

Amazon's attempts to unite brick-and-mortar grocery with its hulking e-commerce operation might have struck fear into the industry when it announced its acquisition of Whole Foods five years ago Thursday, but it has been a bit of a shaky marriage so far.

Since that 2017 buy — and amid redoubled attempts at securing an omnichannel grocery foothold with newer brand Amazon Fresh — the company is learning the hard way that chucking a package of toilet paper onto a stoop is far easier than delivering an insulated bag of raw chicken and fragile produce, and that building customer loyalty can’t be solved with technology and its name alone.

5 Years Later: Amazon’s Whole Foods Buy A Study In Hubris And Determination

Amazon is throwing everything it has at the stable, lucrative grocery market, according to retail analysts. But as Amazon Fresh stores open more slowly than expected and Whole Foods struggles to find its post-acquisition footing, the company might need to put in a lot more legwork to land a permanent…

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Adaptive Reuse Gives New Life To Chicago’s Historic Assets

PRESENTED BY:   Cubed Construction
 
Adaptive Reuse Gives New Life To Chicago’s Historic Assets

When the pandemic hit, it became clear that some properties were not equipped to adapt to a rapidly changing world. But rather than sit by and let their buildings stay obsolete, owners and developers have turned to adaptive reuse to transform underutilized buildings into new use…

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Workforce Shortages Hamstring Hotel Recovery As Leisure Travel Booms

 

In a small market in Texas, a new hotel operator decided to throw in the towel after less than one year. Despite being packed with guests, a chunk of the hotel's rooms remained out of service due to a chronic staffing issue that finally became too big a burden to bear.

"The owner called me and said, 'I just can't keep it. My wife is going to divorce me if I have to clean another bed,'" said Skyler Cooper, first vice president of investments and senior director of Marcus & Millichap’s Hospitality Division. "I sold the same hotel in the same year, which is unheard of — I've never done that in my 11-year career."

More than two years after the onset of the pandemic, a resurgence of leisure travel has ushered the hotel industry into recovery mode. First-quarter revenue per available room reached $72.20, a 61% increase year-over-year, according to CBRE Hotels

Operators are breathing a collective sigh of relief as profit margins begin to normalize. But looming over the renewed zeal for travel is a persistent lack of staff. 

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