Wednesday, April 2, 2008

Costco locations at malls

The author who refers to this situation calls his article "Strange Times makes strange bedfellows" and he takes the position that the mall wouldn't include a costco or any wholesale club unless no other department store would agree.

Well, forgive me for disagreeing but I think this is a positive movement.

In Merrillville Indiana we have roughly four miles of retail strewn along U.S. 30, none of if looks terrific as the years go on. The land planning that allows this is real estate 1.0. It's time, in the eyes of developers and cities and even customers to move to real estate 2.0

Lifestyle Centers are all the rage, and in some cases they actually work. The reason is that customers like the idea of getting out of those dreaded cars and moving around a pedestrian friendly environment for hours. Could be costco, could be Barnes and Noble, could be a movie or even some kind of entertainment venue. But why keep having to get into a car to move anothe half mile down the same highway and then park again?

Watch for residential opportunities too. Right now probably more apartment related since rentals rates are increasing so strongly, but in the long run condos and townhomes as well.

No comments: