Shopping Centers Today

JUL 2015

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

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owntown store frontage, shunned by retail investors a few decades ago, has come back big in the eyes of reits and upscale merchants. both are competing vigorously for street-re- tail sites, encouraged by the residential flight back to the urban cores. growing numbers of retail reits, including acadia realty trust, general growth Properties and regency Centers Corp., have joined seasoned urban veterans such as Vornado realty trust and forest City enterprises in staking out — and bidding up — street-retail spaces. "street retail used to be sort of a cottage industry with a small group of players, but not anymore," said alexander goldfarb, a managing D baCk to the City with cities becoming popular places to live again, reits are jostling one another to buy urban retail property By Steve McLinden j u l y 2 0 1 5 / S C T 41 A C A D I A R E A L T Y T R U S T P A I D A B O U T $ 1 4 4 . 3 M I L L I O N F O R 8 4 0 N O R T H M I C H I G A N A V E . , C H I C A G O , L A S T Y E A R .

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