2A — August 9 - 22, 2019 — M id A tlantic
Real Estate Journal
www.marej.com
Mid Atlantic Real Estate Journal
UPCOMING features SPOTLIGHTS
Mid Atlantic R eal E state J ournal Publisher, Conference Producer . .............Linda Christman AVP, Conference Producer ...........................Lea Christman Publisher ........................................................Joe Christman Section Publisher ............................................. Steve Kelley Section Publisher ............................................... Kim Brunet Editor/Graphic Artist ......................................Karen Vachon Office Manager ............................................... Kerrin Devine Contributing Columnist ..... Perry Cirigliano, Patcraft; Drew Romanic, Martin Architectural Group, PC; Michael Shuster, CPA, EisnerAmper LLP Mid Atlantic R eal E state J ournal — Published Semi-Monthly Periodicals postage paid at Hingham, Massachusetts and additional mailing offices Postmaster send address change to: Mid Atlantic Real Estate Journal, 350 Lincoln St., Suite 1105 Hingham, MA 02043 USPS #22-358 | Vol. 31, Issue 15 Subscription rates: $99 - one year, $148 - two years, $4 - single copy REPORT AN ERROR IMMEDIATELY MARE Journal will not be responsible for more than one incorrect insertion 781-740-2900 | Fax: 781-740-2929 www.marej.com The views expressed by contributing columnists are not necessarily representative of the Mid Atlantic Real Estate Journal
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Re-Visioning Retail, One Center at a Time T Drew Romanic he world of retail is ev- er-changing and exceed- ingly fickle. Neighbor- hood centers, once the heart of the suburban retail landscape, have been challenged by malls, lifestyle centers, town centers, and power centers, all of which are a derivation or adaptation of the neighborhood center for- mula. Oftentimes the original grocery-anchored neighborhood center sees itself outpaced and out-positioned by newer cen- ters with superstores, offering both dry goods and groceries, as their anchors. At the same time, the renaissance of urban centers coupled with shifting demographics is generating a resurgence in urban and near urban areas. Just as several big box retailers are reformatting to fit into urban markets, even going vertical to accomplish this, there is still hope for the neighborhood center to be revi- talized if the location is sound. Through the evolution of the suburbs, and their expan-
sion made possible by the automobile, many markets eventually created “B” and “C” centers and malls which are now seeing a decline in use. These properties are still vi- able, but require a courageous and resourceful caretaker, aided by the design team, to repurpose and re-vision the property. The intent of these projects should be creating a place for people to shop, dine, enjoy, and relax. The added op- portunity to live and work in a newly refurbished community inserts a population into the property and provides a more compact lifestyle, saving time and energy and shifting it toward leisure and personal endeavors.
When reviewing your avail- able options for a property, begin with the low hanging fruit by refreshing the signage and facades with new finishes or visual elements to draw new clientele and existing custom- ers back into the renewed center. Invest in landscaping, restriping the parking, and addressing any safety issues such as poor lighting, pedes- trian access, and vehicle en- trances. Harness the power of a social media campaign, with the inclusion and participation of the tenants, to re-affirm the property’s importance and connection to the community it serves. Invite your new fol- lowers to regularly scheduled continued on page 13A
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