MAY 2018 REAL ESTATE FORUM 39 www.globest.com/realestateforum
Some of the nation’s best-performing retail markets are the
ones enjoying the strongest
economic and demographic
growth. Higher household
incomes and a rising consumer
population are helping to serve as
a bulwark against the broader
shift to e-commerce, for now.
TOP RETAIL INVESTMENT MARKETS
Salt Lake City
Kansas City, MO
Based on projected NOI growth, vacancy
improvement, rent growth and valuations
A COMMUNITY WITHIN A COMMUNITY
This concept of offering many things to all people
goes by different names, depending on the developer.
Ventus Group’s Booty, for example, calls it a community within a community. He says that an ideal
mixed-use location creates an ecosystem that both
drives and feeds the demand of the other real estate
“Consumers demand convenience, and while this
does translate into online retailers winning out over
brick-and-mortar space in some instances, it also presents an excellent opportunity to incorporate retail
into mixed-use communities that also feature multifamily or office space, for example,” he explains.
Or student housing. Ventus Group’s new project, a
4.4-acre, $400-million mixed-use ground-up development dubbed The Fig is located in an urban infill location adjacent to the University of Southern California
campus. Due to the area’s high density and high barriers to entry, it is a rare development for the submarket, explains Booty.
The development will feature retail, student housing, market rate and affordable multifamily units, creative office space, and a 298-key hotel. “Not only will
students, residents and hotel guests drive demand and
feed the retail component, but the USC/Exposition
Park submarket is also undergoing a revitalization that
will drive more tourism,” he explains. ◆
Located on eight acres of a 15-acre redevelopment
area in Fort Lee, NJ, Tucker Development’s Hudson
Lights project will consist of one million-plus square
feet of retail, residential, office and hotel space.