Bay Area Mall Owners Turn To Renovations
To Stay Relevant
With major retailers like Sears, JC Penney and Macy's struggling to survive, malls around the country have been left with large empty spaces and few options for replacement tenants. Around the Bay Area, malls and large shopping centers are undergoing extensive renovations to remain relevant and attract more foot traffic. These renovations include the addition of entertainment, such as Dave & Buster's, luxury movie theaters and stages for live entertainment, to create experiences more than just places for people to shop.
Check out some of the latest renovations below.
Valley Fair Mall
Owner: Westfield
Location: 2855 Stevens Creek Blvd., Santa Clara
Estimated Completion: 2018/2019
This massive $1.1B renovation will add 650K SF for 160 additional stores, 10 outdoor restaurants, 60K SF luxury theater ICON, outdoor event space and a 160K SF flagship Bloomingdale's.…
Read Full Story
|
|
|
Top stories on Bisnow.com
|
Tech Layoffs Accompanying Bay Area's Tech Boom
Even with the success of Bay Area tech companies, several have let go hundreds of employees. Some of the layoffs were the result of growing staff too quickly, slowing sales or company reorganization. While the tech industry is still strong,…
Read Full Story
|
|
|
Smashing The Lavender Ceiling: Inside The LGBT World Of CRE
One in every 25 Americans identified as lesbian, gay, bisexual and transgender in 2016, the highest figure Gallup has ever tracked. But if you are gay and in commercial real estate, it can feel like you are alone in the industry.
The Human Rights Campaign's Corporate Equality Index, a national report on corporate policies toward LGBT employees, gave 515 companies a perfect score in 2017. Of those, 112 were law firms and 38 were retail companies. Even the oil and gas industry, typically viewed as…
Read Full Story
|
|
|
Boston Company Buys San Jose Office For Record Price
Real estate activity has picked up in San Jose since Google started planning a massive campus. Boston-based AEW Capital Management just bought the 11-story 303 Almaden building at West San Carlos Street for $80.2M, the Mercury News reports. This price…
Read Full Story
|
|
|
Dermody Properties Acquires Large Industrial Center In San Jose
Dermody Properties purchased a large industrial building in San Jose from a private investor. The 111,043 SF Silicon Valley Industrial Center at 6212 Hellyer Ave. is one of the few Class-A industrial buildings available within Silicon Valley.
The property is…
Read Full Story
|
|
|
American Coasts Are Preparing Public Transportation For Rising Sea Levels
The U.S. Army Corps of Engineers predicts Atlantic and Gulf Coast sea levels will rise by a minimum of 7.5 feet by 2100. That is quite a leap that could result in massive property damage should owners not take the necessary precautions. Even a mere 14-inch rise in sea levels could inflict real estate damage at 25 times the current rate.
One glaring oversight in the mainstream climate change dialogue is the effect of rising sea levels on public transportation.
In light of this concern, which is among the top six worries plaguing commercial real estate professionals in 2017, developers are making strides to update existing properties and public transit to withstand flooding in the face of rising sea levels.
Click here to read the full story. |
|
|
|
|
|
Meet Aras Agalarov, The Missing Link Between Trump And Putin
The question of what Donald Trump Jr.'s intentions were when taking a meeting with a Russian lawyer during the presidential campaign last summer hangs over the U.S. While political pundits and federal officials parse through the allegations, one thing has become clear — yet again, commercial real estate stands firmly at the intersection of politics. And a little-known figure has emerged: Azerbaijani-Russian real estate developer Aras Agalarov.
Click here to read the full story. |
|
|
