This past weekend I was visiting Sarasota, FL, and on a drive from the airport to downtown I passed two shopping malls, both with Macy's anchor stores. One of them however was liquidating in anticipation of shuttering the store. Alas, a familiar scene today as large retailers are struggling. What is the landlord to do with a gaping hole in the mall?
Well, in today's Wall Street Journal we have one of the answers: bring in the grocery store. The Journal reported that supermarkets, once frowned-upon by mall owners, are finding the welcome mat with the recognition that the diversified shopping experience may fill the void. It actually makes a lot of sense. The anchor store spaces are ideal for the supermarket experience with plenty of convenient parking. The other advantage is that it is more immune to online competition. Mall owners are reeling from the disruption impacting their retailing tenants, especially in the B-mall category, and this sea change is still in the early innings.
The introduction of the grocery store is an interesting trend, and stay tuned, there will need to be a lot more new approaches to fill the growing anchor store void.
Job Listings
ACKMAN-ZIFF REAL ESTATE GROUP, LLC
Senior Originator – Debt, Mezzanine, Equity
(NEW YORK, NY) Originators will provide real estate advisory and financial brokerage services to assist clients in structuring and securing the most appropriate capital solutions for their commercial real estate projects. Duties include originating financing mandates across property types; developing strong client relationships with owners and developers; and pre-screening transactions prior to the full underwriting and execution.
SHOPCORE PROPERTIES
Tax Accountant
(SAN DIEGO, CA) Accountant will be responsible for the following: processing property tax valuation notices and bills; working closely with outside consultants; preparing personal property tax returns; and maintaining fix assets using SAGE software.
MADISON MARQUETTE
Marketing Manager
(PALM BEACH GARDENS, FL) Manager will support the Assistant General Manager and Regional Vice President in developing, implementing and overseeing specified aspects of the strategic marketing plan. Position will also provide administrative support to facilitate timely and accurate implementation of the objectives of the property marketing division.
NAFTALI GROUP
Acquisitions Analyst
(NEW YORK, NY) Analyst will have direct participation and exposure to the acquisition and development process; prepare cash flow models that will be utilized to evaluate real estate investments, including equity, debt and joint venture structures over range of different asset types; and prepare investor decks in connection with equity and debt financing and eventually liaise directly with lenders and capital partners.
WALT DISNEY IMAGINEERING
Master Planner Principal – Entitlement Specialist (PH)
(GLENDALE, CA) Position will be responsible for identifying, analyzing and realizing specific development/re-development feasibility strategies and projects with the Pacific portfolio. The Principal, with in-house and external consultants, will lead entitlements and land use, feasibility and master planning efforts in support of specific development undertakings.
METLIFE REAL ESTATE INVESTMENTS
Valuations & Appraisal Associate, Real Estate Investments
(WHIPPANY, NY) Valuations Associate (VA) will be a high profile and integrated position supporting a commercial real estate portfolio owned by MetLife's general account and third party investors (MIM). The VA will support the Director of Valuations in preparing analyses for and making presentations to senior management, and will have regular interaction with outside valuation vendors and real estate regional offices.
STANFORD UNIVERSITY
Director, Asset Management, Stanford Research Park
(STANFORD, CA) Director will be responsible for value-creation strategy and transactions for the prestigious and world-renowned Stanford Research Park. A preeminent real estate asset of Stanford University, the Stanford Research Park is comprised of 700 acres and 10.2 million square feet of improved R&D and office buildings. Position focuses on maximizing the near-term and long-term value and performance of this significant and complex real estate portfolio.
FEDERAL REALTY INVESTMENT TRUST
Senior Director, Development
(WYNEEWOOD, PA) Director will be responsible for strategic investment management and project execution for the development and redevelopment and integration of new and existing retail assets. Day-to-day activities include partnering with the SVP, Development, Director, Leasing, and Director, Asset Management, Core Division, managing the development team and other key constituents such as leasing, property management, financial analysts, and asset managers to plan, build, and deliver desired economic results.
This past weekend I was visiting Sarasota, FL, and on a drive from the airport to downtown I passed two shopping malls, both with Macy's anchor stores. One of them however was liquidating in anticipation of shuttering the store. Alas, a familiar scene today as large retailers are struggling. What is the landlord to do with a gaping hole in the mall?
Well, in today's Wall Street Journal we have one of the answers: bring in the grocery store. The Journal reported that supermarkets, once frowned-upon by mall owners, are finding the welcome mat with the recognition that the diversified shopping experience may fill the void. It actually makes a lot of sense. The anchor store spaces are ideal for the supermarket experience with plenty of convenient parking. The other advantage is that it is more immune to online competition. Mall owners are reeling from the disruption impacting their retailing tenants, especially in the B-mall category, and this sea change is still in the early innings.
The introduction of the grocery store is an interesting trend, and stay tuned, there will need to be a lot more new approaches to fill the growing anchor store void.
Job Listings
ACKMAN-ZIFF REAL ESTATE GROUP, LLC
Senior Originator – Debt, Mezzanine, Equity
(
SHOPCORE PROPERTIES
Tax Accountant
(SAN DIEGO, CA) Accountant will be responsible for the following: processing property tax valuation notices and bills; working closely with outside consultants; preparing personal property tax returns; and maintaining fix assets using SAGE software.
MADISON MARQUETTE
Marketing Manager
(PALM BEACH GARDENS, FL) Manager will support the Assistant General Manager and Regional Vice President in developing, implementing and overseeing specified aspects of the strategic marketing plan. Position will also provide administrative support to facilitate timely and accurate implementation of the objectives of the property marketing division.
NAFTALI GROUP
Acquisitions Analyst
(
WALT DISNEY IMAGINEERING
Master Planner Principal – Entitlement Specialist (PH)
(GLENDALE, CA) Position will be responsible for identifying, analyzing and realizing specific development/re-development feasibility strategies and projects with the Pacific portfolio. The Principal, with in-house and external consultants, will lead entitlements and land use, feasibility and master planning efforts in support of specific development undertakings.
Valuations & Appraisal Associate, Real Estate Investments
(WHIPPANY, NY) Valuations Associate (VA) will be a high profile and integrated position supporting a commercial real estate portfolio owned by
STANFORD UNIVERSITY
Director, Asset Management, Stanford Research Park
(STANFORD, CA) Director will be responsible for value-creation strategy and transactions for the prestigious and world-renowned Stanford Research Park. A preeminent real estate asset of Stanford University, the Stanford Research Park is comprised of 700 acres and 10.2 million square feet of improved R&D and office buildings. Position focuses on maximizing the near-term and long-term value and performance of this significant and complex real estate portfolio.
FEDERAL REALTY INVESTMENT TRUST
Senior Director, Development
(WYNEEWOOD, PA) Director will be responsible for strategic investment management and project execution for the development and redevelopment and integration of new and existing retail assets. Day-to-day activities include partnering with the SVP, Development, Director, Leasing, and Director, Asset Management, Core Division, managing the development team and other key constituents such as leasing, property management, financial analysts, and asset managers to plan, build, and deliver desired economic results.
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Anthony J. LoPinto
Tony LoPinto is the Global Sector Leader of Korn Ferry’s Real Estate Practice and founder of SelectLeaders. For the past 18 years LoPinto has been serving his clients with deep knowledge and perspective on talent needs and organizational challenges to public and private companies – knowledge gained from a 25-year career in real estate. Prior to his current position, he founded and served as chief executive officer of a boutique real estate executive search firm, where he oversaw offices in New York, Chicago, Washington, DC, San Francisco and Los Angeles. He has successfully led several high profile search engagements for chief executive officers, directors and a wide-range of executive level positions across all industries and sectors. He earned a Bachelor of Arts degree in European history from Loyola University in Chicago.
