NEW YORK CITY-As retailers continue to weave suburban concepts into the urban fabric, more brands—and big-boxes—are going vertical. But as the pendulum swings in favor of transit-oriented development, the nation’s top retailers agreed that the need for mass transportation is beginning to outweigh the need for traditional parking design, according to speakers during day two of the International Council of Shopping Centers’ 2011 New York National Conference & Deal Making event. The convention closed out at the Sheraton New York and Hilton New York Hotels on Tuesday afternoon, where total attendance exceeded 6,000 each day.

During the general session, much of the discussion revolved around the challenges retailers face, running the gamut from site selection, obtaining local approvals, expansion concerns and store formats. The panelists also addressed the paradigm shift of retailers like wholesale clubs and supermarkets—two concepts borne out of the suburbs—that are finding equal strength in cities, especially near subway and bus lines.

“If we could be close to mass transit, it could be absolutely critical,” said Patrick Smith, vice president of real estate at BJ’s Wholesale Club, an operator of 192 clubs and 107 gas stations across 15 states. Smith explained that despite the bulk-quality of BJs merchandise, more city customers are taking the train to its stores. “More people are using mass transit and some people walk,” he said, noting that its parking garage at Bronx Terminal Market is vastly underutilized. “For a BJ’s customer, you may think that is absolutely ridiculous. We never expected people to use mass transit to shop at a wholesale club.”

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.