Tag Archives: retail

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Florida Mall Series: The state of the state’s shopping malls

My column which appeared in the Herald-Tribune on Tuesday, Aug. 19, to promote my mall series coming that weekend.

Coming soon: A report on the state of the state’s retail

Earlier this summer, I hit the road to check out some of Florida’s coolest shopping centers.

… You can read about the malls in a two-part retail series for the Herald-Tribune, which begins Sunday. The Herald-Tribune is committed to covering retail news as it happens, and will soon debut a new way for readers to catch up on all the shopping news in Southwest Florida. So stay tuned.

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Part One: Southwest Florida malls evolving with clients in mind

By Justine Griffin for the Herald-Tribune. Published: Aug. 24, A1

Editor’s Note: Retail reporter Justine Griffin toured shopping malls across the state this summer. This story is the first installment of a two-part series looking at malls and how they’ve changed over the years.

The shopping scene in Southwest Florida is about to change as we know it, as retailers and mall operators brace for the entrance of a behemoth new player.

Opening in 53 days, the $315 million Mall at University Town Center — packed with tenants like Apple, Crate & Barrel and Saks Fifth Avenue — will become the most upscale retail center between Tampa and Naples and the only new traditional mall opening in the country.

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Part Two: Shopping Malls evolve to stay relevant

By Justine Griffin for the Herald-Tribune. Published Aug. 25.

Editor’s Note: Retail reporter Justine Griffin toured shopping malls across the state this summer. This is the second of two stories looking at shopping malls and how they have changed over the years.

South Florida is the state’s shopping mecca.

International travelers flock to Miami, Fort Lauderdale and West Palm Beach to buy from the dozen shopping centers that dot the tri-county area.

These shopping malls, which range from upscale to outlet, are some of the busiest and most cutting edge in the country.

Sawgrass Mills is a massive outlet mall in Broward County with more than 2,383,906 square feet of space. And there’s Aventura Mall, situated between Fort Lauderdale and Miami, which offers one of the most upscale experiences in the nation.

But South Florida is not immune to the struggles that the retail industry has faced since the Great Recession.

Sales dipped and once successful brand names, like department store Lord & Taylor, shuttered amid the downturn. But the market has rebounded in recent years, and several new properties have opened.

Southwest Florida isn’t all that different.

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DeSoto Square Mall going up for sale again

BRADENTON – After just a year and a half of ownership, DeSoto Square Mall’s owner is taking a shot at selling the dilapidated retail center at auction.

The 680,271-square-foot mall in Bradenton, anchored by Macy’s, J.C. Penney and Sears, is listed on websites like auction. com with a starting bid of $9 million for the entire 73.5-acre parcel.

In February, Hudson’s Furniture took over the former Dillard’s two-story, 110,000-square-foot space.

The auction advertisement from Great Neck, New York-based Mason Asset Management claims that DeSoto Square Mall is 30 miles south of downtown Tampa and “services a dense and mature trade area in excess of 500,000 residents who possess above average income levels.”

The auction is scheduled to begin in about a month.

“The word ‘auction’ denotes a certain amount of desperation,” said Barry Seidel, the president of American Property Group of Sarasota Inc. “It means they weren’t able to sell the center in a traditional method, so this is the alternative.”

Read more here.

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Additional Desoto Square Mall coverage:

Desoto Square’s future in flux, Aug. 1, 2014

The future of DeSoto Square Mall was up in the air, a day after an online auction closed and Macy’s, the property’s premier tenant, announced an exit plan.

Highest bid for Desoto Square Mall: $33.75 million, July 31, 2014

An auction to sell off Bradenton’s DeSoto Square Mall closed Thursday with the highest bid at $33.75 million — on the same day the retail center’s premier anchor, Macy’s, announced it would be vacating for good.

$10 million bid for Desoto Square Mall, July 30, 2014

DeSoto Square Mall may have attracted a potential buyer two days into its three-day online auction. The Bradenton mall had a current bid of $10 million at the end of the second day of the auction period, which began on Tuesday.

Hudson Furniture moving into Desoto Square, Feb. 15, 2014

A Florida-based furniture chain will take over the former Dillard’s department store anchor space at DeSoto Square Mall in April.

Hudson’s Furniture, an Ormond Beach-based furniture-and-home-furnishings retailer with stores in the Tampa Bay, Orlando and Ormond Beach markets, will open a two-story, 110,000-square-foot store in DeSoto Square Mall.

Desoto Square changes little after sale, Nov. 12, 2013

It’s been nearly a year since Simon Property Group sold the ailing DeSoto Square Mall in Bradenton.

And in a year’s time, new owners Mason Asset Management hasn’t done a whole lot to update the mall and its perception in the community, despite a successful track record of taking older properties similar to DeSoto Square and giving them a facelift.

 

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COLUMN: Will Publix-Whole Foods merger stay just a rumor?

By Justine Griffin for the Herald-Tribune

A peculiar rumor about Florida’s No. 1 grocer, Publix Supermarkets, and upscale organic retailer Whole Foods Market grew legs and took off over the weekend.

The viral story about Publix buying Whole Foods spread quickly, appearing in newspapers across Florida and around the Internet. Whether or not you like the idea — and no one knows for sure where this rumor started, or why — it seems unlikely to be true.

The buzz began last week, when Austin, Texas-based Whole Foods’ stock jumped 6.6 percent on Wall Street in two days, and options activity spiked. Whole Foods’ profile also was raised when it was ranked on the 2014 Fortune 500 list announced last week.

Publix, too, has seen substantial growth so far this year. The Lakeland-based retailer posted $7.8 billion in sales in the first quarter, up about 4 percent compared with the same period last year.

But their growth is no reason the companies might merge, analysts say.

Read more here.

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Is Sprouts Farmers Market coming to Florida?

sprouts

By Justine Griffin for the Herald-Tribune

Southwest Florida, already flush with new arrivals, is poised to welcome even more new grocery brands as companies in the West continue to expand into the Southeast.

Retail analysts buzzed about Sprouts Farmers Market last month at the International Council of Shopping Centers RECON convention in Las Vegas.

The boutique-like grocery chain concept out of Arizona competes with Whole Foods Market and Trader Joe’s, and is now one of the fastest-growing retailers in the country; it has more than 170 stores in nine states.

Sprouts now has its eye on the Southeast, with four stores set to open in Georgia this summer. Analysts believe Sprouts will start opening stores in Florida within the year.

“Sprouts is hot and heavy this year, and definitely marching in the direction of Florida,” said Jeff Green, retail analyst with Phoenix-based Jeff Green Partners. “They fill a cool niche and have amazing produce turnover.”

The Sarasota-Bradenton market is no newcomer when it comes to drawing new and emerging brands: The Fresh Market opened its first store in Southwest Florida in a Kohl’s-anchored plaza on University Parkway in 2009.

A second store opened in Bradenton in 2012, and the company is considering opening a third in southern Sarasota County.

In 2012, Trader Joe’s opened its second store in Florida on Tamiami Trail in Sarasota, and Costco Wholesale arrived at the Sarasota Square mall.

Gordon Food Service, a grocery chain that caters mostly to the restaurant supply business, is building its second Southwest Florida store in the former Sound Advice building, near Stickney Point Road.

The company is rumored to be opening a third in Port Charlotte later this year.

Then there’s Wawa, a Pennsylvania-based convenience store chain known for its sandwiches and grocery options. It has filed building permits to open its first Sarasota County store by next year on top of three sites in Manatee County and another targeting Venice.

Despite all those big chains coming into the market — and the ones already here, locally owned smaller retailers like Richard’s Foodporium and Morton’s Gourmet Market — analysts are confident there’s room enough for Sprouts to thrive here, too.

Read more here.

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International players have role in Westfield’s new strategy

By Justine Griffin for the Herald-Tribune

What do you do when faced with the imminent threat of being dethroned as the regional shopping centers?

Une option est de ramener les joueurs internationaux qui exciteront vos clients fantaisie.

(That’s roughly: “One option is to bring in international players that will tickle your customers’ fancy” — for those of you who don’t parler français).

Westfield Group — the Australian company known globally for malls and lifestyle centers, and known here for its ownership of the Southgate and Sarasota Square malls — plans to do just that: Reel in more international tenants as it continues to transform its Southwest Florida properties to better compete with the new $315 million Mall at University Town Center.

“Sarasota customers should expect to see some larger international names come to the properties real soon,” said Greg Miles, Westfield’s chief operating officer. “We aim to create lifestyle centers now, multifaceted places that offer a variety of shopping opportunities — not just malls or grocery stores anymore.”

Some of Southgate tenants have already been poached by the Mall at University Town Center, a project under development at University Parkway and Interstate 75 by Michigan’s Taubman Centers and Manatee County-based Benderson Development.

But Westfield has formed relationships with a new group of retailers — high-end brands from Europe that have few or no stores in the United States just yet — in hopes that these will fill vacancies left by brands like Gymboree, Saks Fifth Avenue, Pottery Barn, Express and others.

It would not be the mall owners’ first attempts to show some international flair.

Read more here.