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Video: Pop Damn! How Pop-Ups Are a Year-Long Phenomenon

It’s not just for the holiday season. Love ’em or hate ’em, pop-ups are here to stay. Retail Details looks at why they’re advantageous for tenants and landlords. We check in with Los Angeles’ jewelry retailer Vrai & Oro as they build out a space that they got on Mott Street via Appear Here.


Source: commercial

MAPIC 2017: Retail Headwinds Can’t Cloud the Vibe in Sunny Cannes

At this year’s MAPIC in Cannes, France, there was a mix of concern as well as optimism.

Fred Posniak of Empire State Realty Trust told Commercial Observer that there was “no doom-and-gloom” vibe at the international retail property trade show—and if attendance at MAPIC was any indication, things aren’t so bad. This year’s attendance was up 100 people to roughly 8,500 participants from 2016, according to MAPIC Director Nathalie Depetro. Like last year, attendees hailed from 260 countries around the world.

In New York City specifically, deals are starting up again after a dry spell, as evidenced by the recent transactions involving Levi’s, which is moving its Times Square store to a new 17,250-square-foot location at 1535 Broadway, and Vans, which agreed to take 8,573 square feet for its second Manhattan location at 530 Fifth Avenue.

“I think there is momentum,” said Lee Block of Winick Realty Group.

Still, in order to get deals done, tenant rep Virginia Pittarelli of Crown Retail Services said that “for the right kinds of tenants across the board, all landlords are being creative because of the abundance of space.” That means more tenant improvement allowances and less traditionally structured terms, such as lower base rents plus percentage rents (as in percentage of retailers’ sales).

And landlords have also been more open to doing pop-up deals, according to Cushman & Wakefield‘s David Gorelick.

But there is no arguing that there are issues facing retailers in the U.S., with department stores cited as a serious case in point.

“I see department stores going in a downward spiral,” said Salvatore Ferrigno of Newmark Knight Frank. As many have noted, “the writing is on the wall” for department stores and they “have to evolve,” said C&W’s Gene Spieglman.

The same applies to individual retail brands. Brookfield Property PartnersMark Kostic said it is “important for each store to be relevant,” while Robin Abrams of Eastern Consolidated advised that retailers need to key in on their vibe and brand, among other things.

But the retail situation isn’t as grim internationally, according to one market watchdog. While the U.S. is experiencing a “collapse [in] retail activity,” the downturn is “less dramatic” in other countries,  said Mohamed Haouache, the founder of online short-term retail leasing platform Storefront.


Source: commercial

Netflix Bringing the Drama to Soho With ‘Godless’ Pop-up Store [Updated]

Ahead of the release of its new limited western series Godless, Netflix has leased space at 107 Grand Street in Soho for a weekend pop-up, Commercial Observer has learned.

Referred to by the internet entertainment service as a “Godless general store” in a media alert, the short-term space will provide “an immersive experience and modern take on La Belle—the town run by the gun-slinging women featured in Netflix’s new western series Godless—and will showcase demos, whisky tastings, workshops and wares from artists, jewelry designers, photographers, leather crafters and more.” Godless is being released globally on Nov. 22.

At the beginning of this month the internet entertainment service signed a deal for 5,400 square feet at the base of the eight-story building between Broadway and Mercer Street, according to Joy Fan, the chief creative officer of Storefront, the pop-up retail marketplace that Netflix used to find its space. The asking rent was $45,000 for a nine-day period, and the company took possession of the space today.

The space has been home to pop-ups before, like Warner Brothers‘ experiential animation pop-up during New York Comic Con between Oct. 6 and Oct. 8.

The 1915 59,160-square-foot office building has tenants including fashion brand Edun Americas, a subsidiary of LVMH Moët Hennessy Louis Vuitton S.E, and HKS Architects.

Man Yun Real Estate Corp., which has an office in the building, owns the property; the landlord did not immediately return a request for comment. Netflix’s spokeswoman declined to comment beyond the media alert.

With additional reporting provided by Rey Mashayekhi

Update: This story was edited to include information provided by Netflix.


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New Co-Retail Fashion Boutique Inks Deal in Soho


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Robin Fisher Has a Multimillion-Dollar Dream of What to Do With Raw, Unused Space


Source: commercial