Shopping Centers Today

DEC 2018

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

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Page 57 of 99

IMAGE CREDIT GOES HERE BY STEVE MCLINDEN An uptick in development this coming year will include mixed-use, entertainment and retail innovation IN THE PIPELINE ith 2019 tapping at the door, U.S. shop- ping center developers are staying focused on mixed-use projects that are resistant to e-commerce and that have a signi•cant wow factor. Redevelopments, new restau- rants and some grocery-anchored centers are all in the works. •ough 2018 projects came along at a measured pace — slightly less than 70 million square feet of new retail has been projected for year- end — CoStar Group is forecasting a signi•cant increase — about 90 million square feet — for next year, with several urban-style, entertain- ment-themed projects set to open, some of them in suburban locales. "We're in an experience economy," said John Lambert, who heads JLL's U.S. retail development practice. Consumers are seeking relief from the humdrum through such things as chef-driven restaurants, food halls, •tness concepts and entertainment o‹erings, Lambert says. "A lot of these tenants are expanding into former anchor boxes." •e community-oriented Halcyon, a mixed-use center going up in Forsyth County, near Atlanta, will o‹er 500,000 square feet of retail and W 58 S C T / D E C E M B E R 2 0 1 8

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