Shopping Centers Today

AUG 2015

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 10 S C T / A u g u s t 2 0 1 5 Fatter wallets Commercial real estate professionals are reporting an uptick in annual gross income, as well as in sales volume and number of transactions, according to a survey of 2,000 members of the National Association of Realtors. The incomes of commercial real estate agents have risen over the past five years, according to the survey. The median gross annual income was $126,900 in 2014, up from $96,200 in 2013. Apprais- ers and brokers reported the highest gross income, while sales agents — often those who are newest to the field — had the lowest. The commercial real- tors said they completed a median of 11 transactions in 2014, up from eight last year. The median transac- tion volume reported was $2,916,700 — up from $2,554,700 in 2013. A pop of color Simon found a colorful way to reuse the former Nordstrom anchor space at its Florida Mall, in Orlando, Fla. Crayon conglomerate Crayola LLC opened its second Crayola Experience in July at the center. The 70,000-square-foot space features 25 exciting hands- on attractions. The frst Crayola Experience is located near the brand's headquarters, in Easton, Pa. Net-a-porter wins at social commerce Online fashion retailer may not have a physical store yet, but the company is leading the way in omni-channel retailing with its new The Net Set smartphone app, which brings to Western retail a concept already popular in China: social commerce. "You get a stream of influencers and other people who are lov- ing the same merchandise that you love, influencing your shopping desires and behavior with the ability to click and purchase right within the app," said Beth Ann Kaminkow, global chief marketing officer at Westfield Group. The Net Set app is a game changer for retailers and landlords, she says. "It's not just a social platform that influ- ences your shopping, but actual social commerce. It's loving, 'like'-ing, being interested in brands and buying them. It hasn't hap- pened before. Net-a-porter really understands the future of consumer behav- ior." sHARINg tO sAVE Portugal-based mall owner and manager Sonae Sierra continues to fnd innova- tive ways to save energy by encouraging its tenants to embrace sustainability. One example is the frm's Coop- Store program, launched by the company in Portugal and Spain in 2014. The program enables one shop to be shared among several operators, who can split expenses and best practices among themselves. This new model fueled a sales volume of about $88,000 since it launched and has helped to improve the company's occupancy rate, while giving local busi- nesses and young entrepre- neurs the opportunity to test and create new businesses in Sonae Sierra's shop- ping centers. Moreover, 20 percent of these operators were so successful that they became full-time retailers at Sonae Sierra properties, fol- lowing an initial trial period, the frm says. The program is being expanded to more of the frm's 46 shopping centers throughout Europe.

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