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May 2017 — Retail Properties Quarterly — Page 27
SRS Real Estate Partners
Tony Pierangeli • Jim Hoffman
Joe Beck • Brian Hollenback • Austin Tillack
Tami Lord • Molly Bayer
SullivanHayes Brokerage –
Boulder
Michael DePalma • Sean Kulzer
David Dobek
SullivanHayes Brokerage –
Denver
Tom Castle • Chris Cook
Courtney Dahlberg Key • Mark Ernster
Mike Kendall • Emily Klimas
John Liprando • Grant Maves
Brian Shorter • Christopher Anton
Josh Burger • Bryan Slaughter
Mark Williford
Tebo Development Company
Stephen Tebo • George Levin
The Zall Company
Stacey Glenn • Stuart Zall
Trevey Land and Commercial
Mitch Trevey • Nick Nickerson • Jason Thomas
Unique Properties Inc.
Marc S. Lippitt • Scott L. Shwayder
Tim Finholm • Brad Gilpin • Phil Yeddis
Gannon Roth • Allen Freedberg
Samuel Leger
Valentiner & Associates
Sheri Valentiner
W.W. Reynolds Companies, Inc.
Chad Henry • Nate Litsey
Marty McElwain
WalderaScott Real Estate
Partners
Kimberly Waldera • Noah Waldera
Scott Nannemann • Paul Klink
Western Centers Inc.
Brian Pesch • Corey R. Wagner • Bill Singer:
Western Investor Network
Tony Hemminger • John Jumonville
Matt Ritter
WestStar Commercial
Tim Hakes • Kevin Hayutin
Michael Hayutin • Stephanie Keyes
Retail Broker Directory
RETAIL BROKER DIRECTORY
If your firm would like to participate in this directory, please contact Lori Golightly at r 303-623-1148 ext. 102
over Target pharmacies. Target bene-
fits from CVS customers coming into
the store and CVS is able to expand
exponentially without the overhead
of opening new storefronts.
In 2017, Walgreens and FedEx
announced a partnership that will
put FedEx drop-off/pick-up centers
in Walgreens stores. More of these
types of retail partnerships should
be expected as retailers continue to
look for ways to streamline expens-
es.
• Uniqueness matters. Small stores
with unique products not at major
superstores are in demand. This can
be seen in online retailers opening
small storefronts as distribution
channels and in international retail-
ers finding the value of entering
the U.S. It is a tenant’s market, so
the new-to-market retailer offering
a unique product is a real catch for
property owners; therefore, the new-
to-market retailer often can negoti-
ate better rents and have the oppor-
tunity to expose its international
brand in a new market.
With an eye on these retail trends,
the city of Thornton is proving to
be on the forefront with these new
projects announced along the north
Interstate 25 corridor:
•Denver Premium Outlets, break-
ing ground in May, addresses the
savvy shopping mentality.
•The Summit and Topgolf,
approved to begin construction in
2017, are experiential/entertainment
concepts.
•ViewHouse Eatery and Bar,
approved for construction in 2017,
addresses the “eatertainment”
requirements for modern day res-
taurants.
Realistically, brick-and-mortar
stores aren’t going anywhere. There
is still an appeal for the sensory
experience of shopping – smelling,
touching, hearing and trying on.
However, the industry is evolving,
with online shopping no longer just
a support sales tool. Today, the brick-
and-mortar store may support the
online store. While both remain nec-
essary, the evolution leads to a con-
traction in the number of physical
storefronts with larger radius rings
between repeat stores.
Looking to the future, retail must
remain nimble to retain the capacity
to anticipate and respond to future
trends and support creative/sustain-
able retail development to ensure
the economic vitality of our commu-
nities. s
Jacoby
has home delivery and grocery pick
up, and it recently started Live Nat-
urally, a new natural and organics
delivery service that carries in-store
brands including many that can
only be purchased online. Walmart
has in-store pick-up options and
is testing a home delivery concept
using Uber and Lyft for same-day
delivery. Whole Foods and Natural
Grocers have partnered with Insta-
cart to provide home delivery. And,
of course, Amazon is already mak-
ing inroads into traditional grocery
territory with its Prime Pantry divi-
sion. The company also is rumored
to be scouting out Denver locations
for its brick-and-mortar Amazon Go
concept.
The grocery business is alive
and well in Colorado even as new
methods of delivery, consolida-
tions and closures prune the cur-
rent store base. These trends bode
well for the market leaders who
innovate and adapt to changing
consumer habits that have caused
such pain in the traditional depart-
ment store sector.
The good news for those of us
who own grocery-anchored cen-
ters is that we may finally see a
leveling off of new grocery store
openings, which, while it may not
bode well for our development busi-
nesses, should strengthen sales at
the existing stores in our portfo-
lios. This would be a nice outcome
after years of worrying about ever-
increasing new competition dimin-
ishing the sales and values of our
current centers. s
Ginsborg
PNC
The total market share percentage of major grocers in Denver.