As I was preparing to write this week's column I began by focusing on the big news this weekend that "E-Tailers" online sales trumped brick and mortar malls. On Thanksgiving and Black Friday, consumers spent an estimated $4.5 billion online with sales rising 14% from one year ago, and half of these sales came from mobile devices. To provide some perspective on these statistics, for the same period shoppers spent $12.1 billion at "traditional" stores, a decline from last year.
This is unfortunate news for landlords as the online assault on the shopping mall continues. This is truly a megatrend issue, but a bigger shorter term story is the heat wave that has gripped most of the northern US cold belt. October and November have been the warmest on record, and today I spoke to a retail executive from one of the major national retailers who reported that winter coats, sweaters, UGG boots, gloves, scarves, mittens and other woolies, are all gathering dust on retailers racks and shelves.
Unless a polar vortex is unleashed soon (like in the next week or two before Christmas), the real story this season will be the fall heatwave. He also reported that there has been a run on bathing suits as plans are shifting to holiday vacations "on the beach." Alas, there are no bathing suits on the shelves.
CITY OF SANTA CLARA
Director of Planning and Inspection
(SANTA CLARA, CA) Director will work closely with the City Manager's Office on economic development projects, provide proactive visionary leadership to the City, and successfully oversee an active development environment with multiple priorities.
HANLEY INVESTMENT GROUP
Associate
(CORONA DEL MAR, CA) Specific duties include: providing support to multiple real estate professionals; prioritizing various projects; understanding of retail shopping center investments including lease terms and economics (i.e. cap rates); and financial assessment, analysis and underwriting of retail real estate assets nationwide.
PNC
Production Analyst
(MULTIPLE LOCATIONS) Production Analyst will have direct contact with Borrowers, Underwriting, Credit and Closing. Also responsible for qualitative and quantitative analysis of property operations and Borrower creditworthiness to determine the viability of a proposed loan.
RXR REALTY LLC
Director of Security
(MANHATTAN, NY) Position will support Disaster Recovery, Business Continuity, Special Event and/or Emergency Operations that involve candidate to command, plan and sustain operations with other departments and agencies.
SLATE PROPERTY GROUP
Vice-President of Development
(NEW YORK, NY) Vice President includes sourcing, evaluating, and overseeing implementation of complex, large scale, mixed-use development projects, principally by managing a team of third party consultants and internal team members.
MASS DEVELOPMENT
Senior Vice President of Real Estate Operations
(BOSTON, MA) Position reports directly to the Executive Vice President of Real Estate Division and serves as the EVP's deputy, managing the operations of the Division. Related tasks include overseeing the division budget, controls, and reporting mechanisms including reports for the CEO, Board, and its Real Estate Committee.
UOVO
Controller
(LONG ISLAND CITY, NY) Duties include directing oversight and execution of all finance, accounting and reporting activities; analyzing financial data and present financial reports in an accurate and timely manner; and monitoring progress ensuring senior leadership is kept abreast of UOVO's financial status.
CHFA
Preservation Program Manager
(DENVER, CO) Manager will play a leadership role in CHFA's affordable housing preservation efforts and serve as the organization's primary point of contact for advancing preservation activities, in partnership with key external stakeholders.
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