Newsletter distressed malls


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Restructuring a shopping mall - experiences - request - marketing and market tools and advisory to manage an exit
An italian example

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Newsletter distressed malls

  1. 1. had different answers, but the majority of the respondents indicated for this Mall a com- mercial center based on an organic market. Perhaps this response was determined by the economic situation in the As advisor in the real estate sector and finance, we have been commissioned by the German Aareal Bank, to pro- mote the sale of an important commercial property in the area of Verucchio. The shopping center, con- structed in 2008, closed in 2011, measures 28,800 square meters and is set on two floors plus basement. Between Sep- tember and October 2013 in order to ascertain better the economic fabric of the area of Verucchio and the prospects for the future, we made inter- views in which 148 contacts were involved - professionals, architects, surveyors, entre- preneurs , notaries, industry trade, agriculture, social, po- litical, technical associations and the public administration, tourist agencies and of course specialists of retail, banking and financial sector. We de- cided to share the results of these interviews in a report which will form the basis to carry out the work of our next initiatives. We provide for to launch a call architects and engineers for ideas through an architectural competition aimed at the redevelopment of the shopping center of Veruc- chio. The interviews revealed a negative picture regarding the present performance of the local economy, while the 60% expects a positive situation in the next three years. When we asked what kind of activities could be carried out in the mall (giving the choice be- tween a classic shopping- center, outlets, fitness centers, health and organic market) we Centro Commerciale di Verucchio THE RESULTS OF AN INTERVIEW A multi-functional shopping center Considering the size of the shopping center and the catchment area, the best solution seems, even in the opinion of an important part of the respondents, a multi- purpose center that can in- tegrate different and com- plementary activities. Inno- vation is the way to retrain. CONact Market Entry Management GmbH 05 march 2014REPORT interviews REPORT interviews CONact Market Entry Management GmbH ® Preference PARTECIPANTS
  2. 2. Stefano Lucidi Country Manager Italy Via Ciampino, 15 00040 Ardea +39 06 94803 662 Joerg Kowollik Managing Director Feldberg 1-3 61389 Schmitten (Fra) +49 30 34646 9800 For over 20 years, Conact has been working with real estate and NPL (non performing loans) providing through specific facilities and the professional staff, assistance and advice to banks, investors, companies, the necessary support in critical situations and financial and structural hardships. Starting from Germany, Conact, offers these services throughout Europe, in particu- lar, in the East and South Europe. Collaboration with important German credit institutions, has allowed over the years, to deepen the experience of the Team Conact, on properties described as "corporate"commercial, indus- trial and service sectors. The services ranging from the valuation of individ- ual assets or packages of properties to the management of assets and prop- erties including improvements until Rebuilding and conversion (upgrading) based on a short-term or long-term strategy. Conact on request assumes al- so the responsibilities as Interim-Manager of portfolios, for companies that own or operate these portfolios. CONact Market Entry Management GmbH uses. Especially in proximity to major roads, highways or airports they could refocus on an exclusive residence, offering even the chance to shop in the same building with the division / distinction of the building to give more security feeling, privacy and tranquility through a gradu- al path from the retail section to the residential one. If the building is close to an university can be created mini- apartments at moderate prices. To use parts of the building as offices or residential destination means to have less space to rent for retail sale. Conse- quently, there is less vulnerability with respect to a large surface area, for ex- ample in case the retail goes into crisis because of a new opened mall near by. The advantages of the "mixed use" for the residents is to have shops in the same building with the chance to add shops based on their needs. The resi- dents supervise the building; offices, As soon as there are signs of a negative trend, a specific study is to accomplish, to understand how to facilitate, develop and renew it immediately. The expres- sion "Dead Mall " is now part of the vocabulary in the U.S. because it is a frequent topic, and there are even web- sites dedicated to this subject. We must act immediately because every mall at some point in its history is at risk to bankruptcy and the negative trend is not reversible automatically. The incentive to be more creative as possible to make the environment in the mall interesting, engaging for the customer. The admin- istrations of the municipality, provinces and regions must work together to plan in advance so to avoid malls which too close catchment areas and be helpful to find new purposes, in case of a refur- bishment. The most effective approach is the "mixed-use", and this term refers to the use, based on specific, local needs such as retail, offices, residential or other which are less trendy and fleeting, can be added to the mix. Article about “Dead Malls” ... CONcept & action Merchandising in vendita sul sito di Deadmall