ROUND-UP: Retail Traffic

OK, so the latest jobs report was disappointing and people a lot smarter than me are saying that our economic recovery is losing steam.  It's the 4th of July Weekend!  Let's focus on some more encouraging news.  Here are links to some recent encouraging stories from the fine folks over at Retail Traffic:

  • Here's an interesting piece by Elaine Misonzhnik about the growing sophistication of certain landlords' online marketing campaigns.  I was impressed by social network -- called ShopStar -- created by Developers Diversified Realty.  According to the article: "The tenants, including both retail stores and entertainment establishments, can use ShopStar to advertise special events, prizes and giveaways to shoppers. Customers, meanwhile, receive access to information about local properties and can offer feedback on what they think would improve their shopping experiences. Developers Diversified hopes the program will help build brand loyalty."  DDR's social network is a great idea and value-add to tenants.
  • Staying on technology, here is an article from EM regarding a retail-specific, Web-based property management "solutions" site called Workspeed Retail from Workspeed which "helps owners and managers track all property-related tasks, including tenant communications, preventive maintenance, accounting, security incidents and work orders, using a single online application."  There is reference in the article to some initial concern about going paper-less, which I share, but it is clear that web-based applications are the future.  Still, the argument for the application is increased efficiency -- which undoubtedly adds value -- and the leveraging that can be done by smaller management firms w/o in-house software.
  • Check out this post from David Bodamer on the TrafficCourt blog w/ evidence that a "bottom" in CRE pricing may have formed.  (Hey, we'll take our "good news" anywhere we can find it!)  Now, time to start moving up.
  •  Let's finish up w/ a piece from EM about how the flood of tenant concession requests that marked much of 2009 may be starting to subside.  If the brokers featured in the article are on the mark, it sounds like the playing field is starting to level off.  We'll take that as a positive!

There is plenty of other good stuff, both at Retail Traffic and TrafficCourt.  Please check it out.

Here's hoping that everybody has a safe and happy 4th of July Weekend.  Let's all get out there and spend some money.

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