Q2 2012 Pittsburgh Retail Services Market Place Newsletter
The retail services team at Colliers International | Pittsburgh provides integrated commercial real estate retail services to our clients. Locally, we operate
across the ten counties that comprise Western Pennsylvania, and parts of West Virginia. In addition to accelerating the success of our local clients, we are able to collaborate with the Colliers International global retail services team in order to provide maximum returns to our multimarket clients.
Our expert retail professionals offer client’s in-depth expertise, shared sense of initiative, and an unparalleled ability to collaborate and minimize risk while
maximizing results. Together, we provide a full range of real estate services to landlords, tenants, and developers. We offer acquisition and disposition expertise across all property sectors including retail, industrial, office, land, multi-family and hospitality.
“The Pittsburgh retail market is doing well,” said Brad Kelly, Director of Retail Services | Pittsburgh. “Retailers are reporting positive sales and new retailers are coming to our market to consider expansion. I’m looking forward to a positive 4th quarter!”
Read the full Q2 2012 Colliers International | Pittsburgh Retail Services Market Place Newsletter.
Retail’s Transformed Consumer Changing Grocery-Anchored CRE Investment Strategies
Sources: RetailTrafficMag.org, Colliers International | white paper: Dollar Days, CoStar
Call it convenience or say its selection, consumers are purchasing their consumables in establishments other than traditional grocery stores. General merchandising chains, warehouse clubs, dollar stores and drugstores are catering to a transformed consumer who is trending toward the one-stop shopping experience. Retailtrafficmag.org reports as multiple retail operators add grocery products to their shelves, traditional supermarket chains have found themselves squeezed in their own market segment. At the same time, the ever-widening pool of upscale and organic supermarkets are providing more choices to well-to-do shoppers unswayed by Wal-Mart’s prices.
ICSC Convention Brings Optimism for Retail Sector Recovery
Source: CoStar, Colliers International
Colliers International and the Retail Services Group made a big splash at this year’s ICSC RECon convention in Las Vegas, May 20–23. More than 260 Colliers professionals attended– a record number for this event. Total conference attendance exceeded 30,000. An estimated 1,000+ business development meetings were held in our booth and others, making this a highly productive event. Colliers hosted a national retail meeting and reception to kick-off the event, as well as several client events, including a cocktail pool party that attracted nearly 1,000 people, complete with entertainment by Cirque de Soleil.
“The attendance and activity at this year’s ICSC Convention was excellent, said Gregg Broujos, Managing Director and Founding Principal at Colliers International | Pittsburgh. “I think that the brisk activity and increased attendance bodes well for the retail sector in the coming years. Not that retailers are going to recklessly expand, but they seem to want to increase their presence in many of the stronger markets. On the investor side, there continues to be strong demand for bricks and mortar investments, although there is not a lot of inventory for investors to choose from. All in all, we could not be more optimistic about the retail sector recovery. The Colliers International booth was jammed packed, and the mood was fantastic.”
Determining Site Selection for a $500 Billion Money Machine
The science of supermarket shopping is quite interesting, and centers around consumer behavior, shelf placement, strategically located displays and overall ambiance. Shopper satisfaction, food demonstration displays with samples, and shopper rewards programs paired with the plain old fashioned feel good factor of satisfying the hunger for great deals, drives consumers to explore aisles of countless items and purchase more outside of their original shopping list.