Shopping Centers Today

AUG 2018

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

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T H E C O M M O N A R E A P R O P E R T Y M A N AG E M E N T I n the second quarter, the national average rent for retail space grew by 0.2 percent year on year, according to real estate research firm Reis. The increase occurred despite a slight uptick in the vacancy rate, to 10.2 percent, from 10 percent in the second quar- ter of 2017, Reis reports. The firm says vacancy increased in 55 out of RETAIL RENTS GREW IN 2Q: REPORT Hawk solves mall's pigeon problem l There are a variety of mechanical solutions for malls wishing to rid themselves of pigeons, but Broadway Plaza, in Walnut Creek, Calif., went for an organic remedy: It hired a hawk. A major renovation of the mall — which included additional stores and restaurants, the installation of walk- ways, and a new garage — proved to be a major draw for shoppers. But it also drew flocks of pigeons, which nested in the garage and made a mess of the surrounding project. After evaluating a variety of options, the mall brought in The Hawk Pros, a company whose clients have included the Los Angeles County Museum of Art and the U.S. Bank Tower, both in Los Angeles. Hawks also patrol Wim- bledon's tennis courts and Trafalgar Square, both in London. But half the firm's clients are shopping centers, Hawk Pros co-founder Alyssa Bordon- aro told SCT. Each time Broadway Plaza's hawk — named Remmy — chases away a pigeon, it receives a piece of meat from its handler as a reward. The hawk is both a scourge for the pigeons and a spectacle for the shoppers, says Shelly Dress, a senior property manager at the mall, speaking to The Washington Post. "Hiring Remmy was the best money we've spent," Dress said. "He not only keeps the mall free of pigeons, he's also become something of a local celebrity." n 77 U.S. metro areas, relative to the year-ago quarter. The closures of Toys 'R' Us stores contributed to the vacancy increase. Developers have slowed their construction of new centers: Only 780,000 square feet of new construction was completed in the second quarter, down 79.7 percent from a year ago, according to Reis. n 12 S C T / A U G U S T 2 0 1 8 square feet of new construction was completed in the second quarter, down 79.7 percent from a year ago 780,000

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