InvenTrust Properties has ramped up its redevelopment efforts to maximize the value of its portfolio. So says Dave Collins, EVP of portfolio management at InvenTrust Properties Corp.
Collins recently chatted with GlobeSt.com about how the firm is targeting retailer right-sizing for retenanting, pad opportunities on its sites as well as working with our anchors who have very large parking fields. “This benefits our retailers—by monetizing their parking lots, increasing customer dwell time by offering a larger selection of stores, and by creating spaces that are most productive,” he explains. “Our communities will also benefit from an enhanced selection of stores and the increase in tax revenue.”
InvenTrust is very focused on staying ahead of this dynamic retail market, Collins tells GlobeSt.com. “There is a confluence of retail bankruptcies, ecommerce and the general feeling that many markets are 'overstored.' Still, there are new retailers such as Lidl coming into the market.”
In this atmosphere, landlords that have the right centers in growing markets is key, he continues. “The strategy for InvenTrust Properties in the last few years has been intensely dedicated to building this kind of portfolio. So the box space that does become available through retailer bankruptcies creates a beneficial opportunity for us to enhance our centers with remerchandising, and provide our shoppers with an updated selection of stores.”
And as an owner of grocery-anchored and open air shopping centers, the recent wave of department store closings has not affected InvenTrust's portfolio as much as that of owners of enclosed malls, Collins explains. “But we are keeping an eye out for the trend of enclosed malls pursuing big box and grocer anchors to fill their large vacant spaces. In many cases, our shopping center format will be somewhat immune to this trend, as our centers' configurations are built for convenience – from the store selection to easy parking adjacent to storefronts. And in this time-strapped world, convenience is the name of the game for shoppers.”
InvenTrust Properties has ramped up its redevelopment efforts to maximize the value of its portfolio. So says Dave Collins, EVP of portfolio management at InvenTrust Properties Corp.
Collins recently chatted with GlobeSt.com about how the firm is targeting retailer right-sizing for retenanting, pad opportunities on its sites as well as working with our anchors who have very large parking fields. “This benefits our retailers—by monetizing their parking lots, increasing customer dwell time by offering a larger selection of stores, and by creating spaces that are most productive,” he explains. “Our communities will also benefit from an enhanced selection of stores and the increase in tax revenue.”
InvenTrust is very focused on staying ahead of this dynamic retail market, Collins tells GlobeSt.com. “There is a confluence of retail bankruptcies, ecommerce and the general feeling that many markets are 'overstored.' Still, there are new retailers such as Lidl coming into the market.”
In this atmosphere, landlords that have the right centers in growing markets is key, he continues. “The strategy for InvenTrust Properties in the last few years has been intensely dedicated to building this kind of portfolio. So the box space that does become available through retailer bankruptcies creates a beneficial opportunity for us to enhance our centers with remerchandising, and provide our shoppers with an updated selection of stores.”
And as an owner of grocery-anchored and open air shopping centers, the recent wave of department store closings has not affected InvenTrust's portfolio as much as that of owners of enclosed malls, Collins explains. “But we are keeping an eye out for the trend of enclosed malls pursuing big box and grocer anchors to fill their large vacant spaces. In many cases, our shopping center format will be somewhat immune to this trend, as our centers' configurations are built for convenience – from the store selection to easy parking adjacent to storefronts. And in this time-strapped world, convenience is the name of the game for shoppers.”
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
