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Retail & Shopping

Tuesday, November 24, 2009
RealUp provides a free search and post platform for all types of commercial real estate including multifamily, office, industrial, medical, entertainment, land and retail properties.

Retail properties as defined by About.com would include: "Single buildings used as stores for clothing, electronics and other consumer products, as well as malls, strip centers and the like. Valuations can be based on size and land value, retail sales per square foot or other investment return calculations."

RealUp actually launched its website this past May at the annual RECon Convention held sponsored by the International Council of Shopping Centers (ICSC). The retail market is one of the largest in the industry and this annual tradeshow is the largest gathering of retail real estate professionals in North America with approximately 50 percent of the retail real estate industry's shopping center leases being signed or conceived during RECon.

Since its May 2009 launch, RealUp continues to have a major presence in the retail industry. Brian Randy Funk, President of RealUp has been an associate ICSC member for almost a full year. Over 38% of our RealUp user base is also members of ICSC and 70% of our members work with retail properties. RealUp has also been featured in the Retail Traffic "Traffic Court" blog as well as Shopping Centers Today Magazine.

As you can imagine, shopping-centers make up a large portion of the retail market and like many, has been on a downward trend given the state of the economy. On the bright side, shopping-center sales grew by 0.6% in September while total retail sales fell 1.5%, according to the U.S. Department of Commerce. Although growth is still negative sales having increased for two consecutive months—on a month-over-month basis—and continue to show improvement on a year-over-year basis.

Interesting facts:
  • The first shopping mall was the Country Club Plaza, founded by the J.C. Nichols Company and opened near Kansas City, Mo., in 1922.
  • The first enclosed mall called Southdale opened in Edina, Minnesota (near Minneapolis) in 1956.
  • The largest shopping center in the United States based on gross leasable area is the King of Prussia Mall in Pennsylvania.

You can find more facts and news on the retail market by visiting the National Retail Federation website.
Posted By Bonnie Murray, Customer Service Manager

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