Each Wednesday, The Wrap presents a compilation of recent noteworthy commercial real estate stories from a variety of publications. Below are links to five stories that caught our eyes in recent days:
Property Manager vs. Asset Manager: Have the Roles Merged?, By Bill Whitlow, Multifamily Executive
Key Excerpt:
“Property management, by definition, entails the operation of commercial or residential real estate, including both rentals and owner-occupied units. Thus, a property manager acts on behalf of the owner in routine tasks such as rent collection, the administration of leases, the scheduling of maintenance and repairs, and, perhaps most importantly, tenant relations. Asset management, by contrast, is concerned with maximizing the revenue potential of each property and identifying new methods of creating longer-term additional value in the asset. These roles are distinct from one another.”
Driving Revenue for Retail Centers Through Innovative Landscape Design, By Julie Brinkerhoff-Jacobs, Shopping Center Business
Key Excerpt:
“In order to remain competitive in this ever changing landscape, retail owners must adapt their strategies to create retail centers that cater to the evolving demands of today’s shoppers. The majority of consumers that still prefer to make purchases in stores are no longer simply searching for places to shop, but are rather seeking multi-sensory environments and experiences that cannot be replicated through online channels.”
How the Strategic Opening of Retail Stores Can Revitalize City Neighborhoods, By Lyneir Richardson, NREIOnline.com
Key Excerpt:
“The opening of a new retail store or restaurant can quickly bolster a neighborhood, creating cascading benefits for the residents ranging from access to healthy food and convenient services to increased property values and safer streets.”
Movies, Urban Sprawl & More: The Future of Atlanta CRE, By Saraf Ahmed, Bisnow
Key Excerpt:
“From an investment/sales standpoint, there’s still tremendous liquidity. There’s a number of new entrants looking for new avenues to invest in multifamily. Significant private capital is moving into multifamily at a time when institutional capital is becoming more conservative. The growth markets across the Southeast have been a good place to be for a number of years now. That trend will continue.”
Alpharetta Project to Bring Downtown Brewery, Restaurants, Residential Units, By Doug Sams, Atlanta Business Chronicle
Key Excerpt:
“The nearly 13-acre project at South Main Street and Devore Road goes before the city’s planning commission Dec. 1. The redevelopment would include a 60,500-square-foot brewery, 36,000 square feet of retail and restaurant space, 64 townhouses and 50 condominiums, and 200 apartments, according to plans submitted to Alpharetta planning officials.”