September 25, 2020
 
NEW YORK RETAIL UPDATE
RETAIL CAPITAL MARKETS • NATIONAL RETAIL PARTNERS - NORTHWEST
Dino A. Christophilis and team specialize in the facilitation of retail institutional property acquisitions and dispositions for both private and institutional investors. Their vision for continued success in the retail institutional sales industry involves providing the highest level of brokerage services through retail investment specialization, research and analysis, and transaction experience to his growing client base. Dino is a member of ICSC, and he and his team lead the Pacific Northwest’s Capital Markets Retail Institutional Properties division at CBRE.
The Backroom: Walmart+ vs. Amazon Prime
By Retail Dive | September 24, 2020

Walmart+ launched earlier this month, which led to many comparisons with Amazon Prime. Both services cost roughly $100 annually and include exclusive perks like fast, free delivery. While Amazon Prime includes two-day delivery, Walmart+ offers same-day delivery on more than 160,000 items — a fraction of what its competitor offers. The membership also offers discounts on fuel and access to scan-and-go technology through the retailer's app.
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Beyond TikTok, Walmart Looks to Transform
By New York Times | September 23, 2020

Walmart’s planned investment in TikTok is being called “transformative.” It can engage with consumers not just when they are buying something on the retailer’s website, but while they are creating and consuming viral videos. The retailer could embed advertisements in the user-generated videos with links to the Walmart website or siphon data from the site’s tens of millions of users to glean their shopping habits based on the content they posted.
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Retailers have started paying rent again but are still fighting with their landlords
By CNBC | September 24, 2020

Retailers are starting to pay more rent as states lift shutdown orders and consumers become more comfortable venturing out to shop. Tensions keep brewing, as mall and shopping center owners grapple with retailers looking to close stores permanently, downsize or try to rewrite contracts in their favor.
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Can Luxury Fashion Ever Regain Its Luster?
By New York Times | September 22, 2020

This is usually a busy month for the luxury industry. Not long after glossy fashion magazines publish their all-important September issues, thousands of retail buyers, journalists and clients embark on a tour of New York, London, Milan and Paris. The second quarter of 2020 was the luxury fashion industry’s worst. At a time when many companies are battling for survival, many designers feel they cannot afford to skip an opportunity to show new wares.
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REI will become carbon neutral in 2020
By Chain Storage | September 25, 2020

REI is completing a 14-year commitment to achieve carbon neutrality in its operations. The specialty outdoor apparel and gear retailer said it will reach its goal of carbon-neutral operations, initially set in 2006, by the end of 2020. REI is also launching a new climate platform designed to more than halve its carbon footprint over the next decade, even as the company anticipates future growth in size and revenue.
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Planet Fitness to open in downtown Seattle
By Business Journal | September 24, 2020

Planet Fitness Inc. is slated to open a gym in downtown Seattle in November, taking over a long-empty 16,364-square-foot space, mostly on a basement level, at 1522 Sixth Ave. The previous tenant, a Parlor Live comedy club, closed in 2015. The group operates 11 Planet Fitness locations in the Seattle area, including the downtown gym.
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CURRENT LISTING
Ferndale Market Center
1730-1750 Labounty Drive
Ferndale, WA

 
INVESTMENT OVERVIEW
  • Rents at or Below Market Levels
  • Comprehensive Property Renovation
  • Additional Pad Opportunity
  • Below-Market Operating Expenses
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CURRENT LISTING
Walgreens-Tacoma
8405 Pacific Ave
Tacoma, WA

INVESTMENT OVERVIEW
  • 10-year Lease Renewal
  • Marked-to-Market Rent - $18.28/sf
  • New Roof - 2020
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CURRENT LISTING
Starbucks - Olive Way
1600 E Olive Way
Seattle, WA

 
INVESTMENT OVERVIEW
• Trophy "Core" Asset
• Lease through February 2025
• Below-Market Rent - $35.55/sf
• Redevelopment Site (massing for 89 units)
 
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Retail Science from CBRE
Dino A. Christophilis
Senior Vice President
+1 206 292 6152
Daniel Tibeau
Associate
+1 206 292 6052
Parker Ksidakis
Associate
+1 206 292 6158
Aaron Sher
Associate
+1 206 292 6153
 
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