Monday the Wall Street Journal blew the top off of the shopping mall story; department stores are yesterday's news. The Journal reported that in Orlando, Florida, a Nordstrom was torn down and replaced with a Dick's Sporting Goods store and a crayon-based family attraction called the Crayola Experience, while a Saks Fifth Avenue was demolished, as well, to make way for a dining pavilion with 23 restaurants, and let's not forget that a Lord & Taylor was carved into space for American Girl, H&M, Forever 21 and Zara. The dependence on anchor tenants such as Macy's, Saks, or Nordstrom's was the life-line of the Mall owner. This is no longer the case. Since 2011 General Growth has taken back real estate from 65 department stores, and the takebacks are accelerating. This is actually a good deal for the mall owners as anchor tenant rents, once priced at $2.00 a square foot, are replaced by $15 - $20 per square foot tenants such as Dick's Sporting Goods, 24 Hour Fitness and other higher-margin tenants, and who thought Crayola's would be in!

Job Listings

Sponsored Jobs: TRANSWESTERN COMMERCIAL SERVICES Building Engineer Position will be responsible for working directly with the property and engineering management in implementing and maintaining the energy management, preventive maintenance, quality standards, operating objectives, and goals of the owner and Transwestern. (Sponsored Job) NEWMARK GRUBB KNIGHT FRANK Director – Retail Real Estate Specialist Director will negotiate lease restructuring and disposition transactions on behalf of Newmark's clientele, consisting of large national retailers. (Sponsored Job) JLL VP or Senior Associate, Capital Markets Position will act as a relationship manager and primary point of contact for debt and equity capital relationships when placing requests and working closely with the Senior Vice President; write memorandums and proposals for new or existing assignments/pursuits; and evaluate economic, demographic and real estate market data for input into project specific deliverables. (Sponsored Job) SELECTLEADERS Senior Property Manager Our client owns and operates a portfolio of multifamily and commercial office buildings along the East Coast. Position will be responsible for overseeing a large, multi-faceted asset, this is a broad role where both property management and asset management experience are required. (Sponsored Job) NORTHMARQ CAPITAL Vice President/Producer – CREF Produces $30-$100 million of loan volume annually from all types of financings. Duties include providing direction on closing, servicing, and related requirements; and originating, underwriting, packaging, and appraising real estate and prepare investment proposals, with particular emphasis on multi-family business. VIRGINIA DEPARTMENT OF GENERAL SERVICES Director, Engineering & Buildings Guided by the Code of Virginia and through a staff of over 200 employees in two bureaus, position will administer the statewide capital outlay program and facilities management program for the historic seat of government. The DEB Director represents the agency in meetings with cabinet officials, state agencies and institutions throughout the Commonwealth; testifies before and works w/legislators, legislative committees and staffs. U.S. BANK Data Management and Reporting Specialist Position will be responsible for providing analytical support for medium to large sized projects. Also responsible for daily database management of space management software system, systems administration, program reporting and day-to-day data integrity, space modifications, process material development. SALESFORCE Director, T&P Business Partner The Real Estate Business Partner for Global Tech and Products (T&P) organization will be responsible for the management of all business aspects as it pertains to T&P org, ensuring that this internal customer is provided with best-in-class service across all Real Estate & Workplace Services (RE&WS) disciplines. Monday the Wall Street Journal blew the top off of the shopping mall story; department stores are yesterday's news. The Journal reported that in Orlando, Florida, a Nordstrom was torn down and replaced with a Dick's Sporting Goods store and a crayon-based family attraction called the Crayola Experience, while a Saks Fifth Avenue was demolished, as well, to make way for a dining pavilion with 23 restaurants, and let's not forget that a Lord & Taylor was carved into space for American Girl, H&M, Forever 21 and Zara. The dependence on anchor tenants such as Macy's, Saks, or Nordstrom's was the life-line of the Mall owner. This is no longer the case. Since 2011 General Growth has taken back real estate from 65 department stores, and the takebacks are accelerating. This is actually a good deal for the mall owners as anchor tenant rents, once priced at $2.00 a square foot, are replaced by $15 - $20 per square foot tenants such as Dick's Sporting Goods, 24 Hour Fitness and other higher-margin tenants, and who thought Crayola's would be in!

Job Listings

Sponsored Jobs: TRANSWESTERN COMMERCIAL SERVICES Building Engineer Position will be responsible for working directly with the property and engineering management in implementing and maintaining the energy management, preventive maintenance, quality standards, operating objectives, and goals of the owner and Transwestern. (Sponsored Job) NEWMARK GRUBB KNIGHT FRANK Director – Retail Real Estate Specialist Director will negotiate lease restructuring and disposition transactions on behalf of Newmark's clientele, consisting of large national retailers. (Sponsored Job) JLL VP or Senior Associate, Capital Markets Position will act as a relationship manager and primary point of contact for debt and equity capital relationships when placing requests and working closely with the Senior Vice President; write memorandums and proposals for new or existing assignments/pursuits; and evaluate economic, demographic and real estate market data for input into project specific deliverables. (Sponsored Job) SELECTLEADERS Senior Property Manager Our client owns and operates a portfolio of multifamily and commercial office buildings along the East Coast. Position will be responsible for overseeing a large, multi-faceted asset, this is a broad role where both property management and asset management experience are required. (Sponsored Job) NORTHMARQ CAPITAL Vice President/Producer – CREF Produces $30-$100 million of loan volume annually from all types of financings. Duties include providing direction on closing, servicing, and related requirements; and originating, underwriting, packaging, and appraising real estate and prepare investment proposals, with particular emphasis on multi-family business. VIRGINIA DEPARTMENT OF GENERAL SERVICES Director, Engineering & Buildings Guided by the Code of Virginia and through a staff of over 200 employees in two bureaus, position will administer the statewide capital outlay program and facilities management program for the historic seat of government. The DEB Director represents the agency in meetings with cabinet officials, state agencies and institutions throughout the Commonwealth; testifies before and works w/legislators, legislative committees and staffs. U.S. BANK Data Management and Reporting Specialist Position will be responsible for providing analytical support for medium to large sized projects. Also responsible for daily database management of space management software system, systems administration, program reporting and day-to-day data integrity, space modifications, process material development. SALESFORCE Director, T&P Business Partner The Real Estate Business Partner for Global Tech and Products (T&P) organization will be responsible for the management of all business aspects as it pertains to T&P org, ensuring that this internal customer is provided with best-in-class service across all Real Estate & Workplace Services (RE&WS) disciplines.