Will Pop-Ups Pop Up Throughout the Holidays?

This past May we posted about pop-ups and how the trend has grown since its beginnings in 2003. We also discussed two trends in pop-ups which were tech and unique locations. As the year comes to a close and the holiday shopping season is in full swing we are looking to see if these pop-ups will still pop up throughout this holiday season.

Recently, Bisnow took a look at the trend as well and are predicting that these temporary retail experiences will continue to pop up through the holidays. In fact, they believe it will be one of the biggest trends of the season.

Why is this trend so popular?

From a consumer perspective, it offers a unique experience and often times an exclusive product that cannot be found elsewhere. For example, in the past year, the pop-up has been utilized by many musical artists to sell tour merchandise that has taken on its own life as fashion “it” pieces to have.

Many pop-ups are also incredibly unique spaces and customers want to be there before it is gone. In the Instagram and Snapchat world of today, the pop-up is ideal for brands because it lasts for only a short time and then goes away. It does not grow old and stale for consumers, but provides buzz for a brand in the short amount of time it is open.

The benefit of pop-ups for landlords is that it offers an opportunity to market a space for different uses and offers income to be generated between long term tenants. In most cases, finding a pop-up tenant is better than having an unused and vacant space. In some cases, it can even work out that the company ends up staying for a long-term lease, as many pop-ups are a test to see how the brand would do in brick and mortar. Landlords should also be thinking outside of just the retail pop-up space as many pop-ups are now eating experiences, wellness experiences, art installations or exhibits.

Popping Up in NYC

Looking specifically at New York City, one of the biggest retail shopping destinations in the country, pop-ups are all over the city and will continue to be everywhere throughout the holiday season.

One notable pop-up in the city is the Google pop-up that showcases its new range of products and is actually an “experience pop-up” where you can try the products but not actually purchase them in the store. For a long list of pop-ups in New York you can check out Eventbrite.

Are you interested in doing a pop-up for your own brand or looking for pop-up tenants to fill your vacant space in New York? Our team at EVO Real Estate Group can help you find the right match.

About EVO Real Estate Group

EVO Real Estate Group, a member of NAI Global, was founded on the guiding principles that govern our approach to every transaction – exceptional service, personal attention, open communication, strategic insights, complete commitment and dedication – that are the cornerstones of our business model. NAI Global is the largest and most powerful network of independent commercial real estate companies in the world with over 375 office and more than 6,700 professionals.

4 Companies Moving Shop to Hudson Yards

There’s been a lot of buzz regarding the Hudson Yards project on Manhattan’s west side. In fact, it’s the largest development in NYC since the Rockefeller Center and, once complete, will add over 10 million square feet of office space, which also includes retail and residential space. The Hudson Yards project is actually the biggest private real estate development in the United States —said to cost approximately $25 billion— and is due to be fully complete in 2024.

Approximately 125,000 people will live or work at Hudson Yards and the space will include state-of-the-art amenities, 14 acres of open space that’s available to the public, and will help to create over 23,000 construction jobs.

With the vast amounts of amenities (public square, retail center, restaurants, the Shed, hotel, and gourmet food market) the Hudson Space is offering, it’s no big surprise that many big time tenants have already secured their space. Here’s the scoop on the tenants coming to Hudson Yards:

Coach, Inc.

Coach became the first tenants of Hudson Yards and moved their headquarters into their brand new space. Recently, however, Coach sold its 738,000 SF headquarters at 10 Hudson Yards for $707 million under a sale and lease-back agreement with Allianz Real Estate, the property management unit of the German insurer.

Point72 Asset Management, L.P.

Point72 is an asset management company that primarily invests in discretionary long and short equities. Headquartered in Connecticut, Point72 also maintains offices globally and now will add 170,000SF at Hudson Yards as their New York headquarters.

L’Oreal USA

L’Oreal is already known for being the world’s beauty leader, now they will move their headquarters into 10 Hudson Yards after 60 years in Midtown. L’Oreal will occupy 10 floors of the building totalling approximately 400,000 square feet.

Time Warner, Inc.

TIme Warner has made the decision to move from Columbus Circle to the Hudson Yards. Taking with them approximately 5,000 employees, Time Warner anticipates that they will consolidate its executive offices in 2018 within the Hudson Yards building.

Many tenants believe that Hudson Yards will be the new hub of the city and everyone is excited for what this will bring in the future. There’s no doubt that Hudson Yards will continue to attract big names and brands as time goes on and more space opens up. The Hudson Yards project will be one of the city’s most compelling developments and will attract millions of visitors in its future. It will redefine the city and only bring more attention to the building and its tenants.

About EVO Real Estate Group

EVO Real Estate Group, a member of NAI Global,  was founded on the guiding principles that govern our approach to every transaction – exceptional service, personal attention, open communication, strategic insights, complete commitment and dedication – that are the cornerstones of our business model.  NAI Global is the largest and most powerful network of independent commercial real estate companies in the world with over 375 office and more than 6,700 professionals.

Reining in the Wide-Open Office

With the rise of the millennial generation, the workplace saw some significant changes. The White House reports that millennials represent over one-third of the U.S. population, making them the largest demographic group. Employers responding to that demographic’s preference for collaborative spaces and a more flexible work environment embraced the open office concept in a big way.

In recent years, though, experts have pointed out that productivity may suffer if office design ignores employee’s need for different sorts of space –room for quiet work as well as for interactive, collaborative exchanges. A piece in Inc. earlier this year noted that about 70% of offices now have open floor plans, and suggests that the trend went a little too far.

The piece cited several studies that found open offices to be less than ideal. Workers reported having to leave the office to get work done, thanks to the distractions inherent in an open workspace. Many studies have found that employees are less productive in an open office than in one that offers some quiet and seclusion.  Employees in an open office even tend to be sick more often.

Despite these drawbacks, there are many aspects of modern office design that are beneficial. Workers do appreciate collaborative space, and with mobile technology they’re less likely to need an assigned desk where they spend their entire day. According to research by the Gartner Group, knowledge workers normally spend just 40% of their time at their desks, and non-group activities now just occupy about 20% of the working day.  When assigned desks aren’t necessary, the overall space needed is reduced.

Office designers are heeding the lessons of the last few years, and are developing hybrid spaces that combine the best features of an open office with spaces that offer more seclusion and quiet.  A popular approach is to create zones to accommodate different types of tasks, with different degrees of privacy, to facilitate focused work, group discussions, and phone calls. Soundproofing is strategically used to differentiate these zones.

Flexibility is an important feature for these spaces, and designers are creating rooms with multiple uses to prevent the scenario of the vacant conference room. Informal gathering places can be useful for group meetings as well as individual work.

Some workplace components that are coming into more use include:

  • Conference/project rooms  -Multipurpose rooms that serve as dedicated collaboration spaces located near work groups, conference/project rooms offer function and flexibility.

  • Call rooms –Small spaces accommodating 2 or 3 people for a phone call or private meeting.

  • Community gathering spaces offer informal and comfortable space for a variety of tasks, as well as room for social interaction.

  • Lifestyle amenities -appealing food offerings, workout facilities, outdoor break areas, and other amenities are proven to increase job satisfaction and improve retention.

So while corridors lined with private offices aren’t making a comeback, there are some adjustments being made to how the workplace looks, and that’s a good thing. New approaches will make more efficient, flexible use of available space to provide room for study, conversation, and contemplation without sacrificing the social and collaborative atmosphere that modern employees want.

About EVO Real Estate Group

EVO Real Estate Group, a member of NAI Global,  was founded on the guiding principles that govern our approach to every transaction – exceptional service, personal attention, open communication, strategic insights, complete commitment and dedication – that are the cornerstones of our business model.  NAI Global is the largest and most powerful network of independent commercial real estate companies in the world with over 375 office and more than 6,700 professionals.

3 Ways Reverse Supply Chain is Impacting Today’s Retailers

E-commerce is certainly putting the retail industry through some trials. Logistics, marketing, store design, and more are all being reshaped as consumers move online to order goods. Another major issue that has arisen is the growing problem of handling returned merchandise.

Retailers have become very good at the supply chain—the process of getting goods from the manufacturing plant to the customer, but these days the flow of returned goods is proving costly. About 49% of retailers now offer free return shipping, according to the National Retail Federation, underscoring how companies that had long been resistant to footing the bill for returns are being forced to do so by their customers.

Online sales continue to grow steadily, and are forecast to comprise more than 10% of total retail sales by 2018. In 2014, returns accounted for 8.89% of all retail sales, up from 8.60% in 2013, according to the National Retail Federation. So it’s likely that the amount of merchandise being returned will also continue to rise. As more retailers offer free shipping and free returns, the sheer volume of returns becomes as problematic as the expense of managing them.

Cost

In this new climate, retailers are finding they have to be equipped to process returns from multiple channels in an efficient manner. Part of the problem is that the process for returns hasn’t changed much over the years.  In many cases, returned items are held for pickup and then trucked to a central facility.  There the decision is made for how to deal with items –prepare for resale, recycle, or dump.  All of this processing costs money, and returns account for significant annual losses.

Another way that returns hurt retailers is through the loss of warehouse space –in tremendous demand for accommodating incoming e-commerce orders.

Unpredictability

For retailers without the right analytics technology, the erratic reverse supply chain can be completely unpredictable. It’s not simply a matter of running the supply chain backwards.

Managing the reverse flow

One way that retailers are combatting the problem is by paying closer attention to how products are sold to online customers.  The more information they have from the customer before the sale, the better able they are to avoid returns. This calls for personalized service and complete, accurate online information as well. Reviews from other customers are very useful in helping shoppers choose the merchandise with which they’ll be happy.

When customers do take or send back a purchase, specially enhanced software can help to efficiently process it, and to determine the item’s resale value, condition, and price. Increasing the efficiency of this process is key to freeing up the warehouse space that’s vital to fulfilling e-commerce orders.

For shipping the returns, many retailers have turned to cheaper solutions, like shipping to customers using UPS or FedEx, but taking returns through lower-cost solutions from third party providers that rely on the U.S. Postal Service.

The challenge of dealing with reverse supply chain is primarily one of reducing the costs associated with increasing numbers of returns. Retailers are attacking the problem from both ends: taking steps to reduce the number of returns and to more efficiently and economically process the returns that are received.

About EVO Real Estate Group

EVO Real Estate Group, a member of NAI Global,  was founded on the guiding principles that govern our approach to every transaction – exceptional service, personal attention, open communication, strategic insights, complete commitment and dedication – that are the cornerstones of our business model.  NAI Global is the largest and most powerful network of independent commercial real estate companies in the world with over 375 office and more than 6,700 professionals.

6 NYC Networking Events to Add to Your Calendar Today

The NYC real estate scene is ever changing, and there’s no better way to keep abreast of developments and innovations in the industry than to network. The calendar is packed with terrific opportunities to learn and mingle, establishing new and valuable relationships along the way.  Here are some upcoming events that should be on your calendar.

Areaa East Meets West – Manhattan Real Estate Connect

Tuesday, November 1, 2016

8:00 a.m. – 7:30 p.m.

The Roosevelt Hotel

45 East 45th Street (Madison Avenue)

Focusing on the tremendous impact of international investment on CRE in the city, this year’s event will explore the role of Asian investments on the New York market, luxury residential real estate, industry best practices among top practitioners, commercial developments, commercial financing, zoning changes coming to New York, AREAA Global and China case study.

B’nai B’rith Real Estate Luncheon

Thursday, November 3, 2016

12:00 p.m – 2:00 p.m.

The Cornell Club

6 East 44th Street, Fourth Floor

Jason Muss, Principal at Muss Development will speak on “What’s Ahead for One of NY’s Largest Developers.” Admission is $70.00 up to two days in advance and $80.00 at the door.

The AlleyBoost Startup Expo

November 3, 2016

Bklyn Commons, 495 Flatbush Ave., Brooklyn

Tech entrepreneurs show off their innovations at this all-day event. attendees will include startup enthusiasts, elite talent, the press and leading investors.

AREPA Distinguished Speaker Series With Shang Dai of Kuafu Properties

December 1 @ 6:00 pm – 8:00 pm

The Asian Real Estate Professional Association (AREPA) will host a speaker and networking event featuring Mr. Shang Dai, founder and CEO of Kuafu Properties. Dai will discuss his distinguished career in real estate and current real estate projects. Seating is limited and this event is expected to sell out. Tickets for the event are $50.00 and free for 2016/2017 AREPA members. This event is sponsored by Suffolk County National Bank.

ICSC (International Council of Shopping Centers) New York National Deal Making

December 5-6, 2016

The Jacob K. Javits Convention Center of New York

655 West 34th Street

This 2-day convention is a deal-making event for retail, aimed at facilitating new deals among owners, developers, retailers, brokers, lenders, municipalities, property asset managers, and product and service providers. Over 10,000 attendees expected.

RETech: Leading Women in Real Estate Tech

Thursday, Dec. 6

6:30 pm.

This event will be at the WeWork Chelsea, at 115 West 18th Street. It will discuss the impact of technology on real estate and spotlight leading women who are reshaping the industry.  The event’s site promises lots of networking and a glimpse into

·      Emerging trends in real estate tech

·      Insight into the speakers’ paths to success

·      The various opportunities being defined and redefined in real estate.

This is just a sample of the exciting opportunities to connect with leading innovators and entrepreneurs in CRE around the city. Make some of these events a part of your calendar; you’ll be inspired.

7 NYC RETech Week Trendsetters to Follow on Twitter

Metaprop NYC’s RETech Week just wrapped up here in New York, and it was an epic week of panels, roundtables, workshops, and presentations covering the topics that matter to the real estate industry and the tech disruptors that are changing how they do business.

Whether you were able to attend or not, you can continue the conversation with some of the event’s major participants on social media. Follow some of RETech Week’s trendsetters on Twitter to keep up with their projects and news.

There were literally hundreds of industry leaders participating in RETech in one form or another. Here’s a selection of major contributors, along with how to connect with their companies on Twitter.

Property Shark

@PropertyShark

Ryan Slack, Founder and CEO of Property Shark participated in the invitation-only REtech Leaders Breakfast Roundtable. You can stay connected by following Property Shark on Twitter.

MetaProp

@MetaPropNYC

Zach Aarons, co-founder of Metaprop, headed up one of two panels exploring the many digital options available to the industry in a forum entitled  ”Real Estate Tech Unbundled.”

Real Estate Board of NY

@REBNY

REBNY is the oldest real estate trade association in the state, and its communications team shares the latest news and ideas from every segment of the industry.

KPMG International

@KPMG

KPMG is global in scope, and their Twitter account has over a quarter million followers. Check in for their perspective on real estate investment, development news, economic trends, the whole enchilada.

Real Capital Analytics

@realcapital

Robert White of Real Capital Analytics contributed his industry know-how during RETech Week, and followers can keep up with the latest on CRE news and trends via the company’s tweets.

Tech Intersect

@CRETechIntersec

Bringing together today’s forward-looking CRE professionals driving innovation in the industry.

Hudson Yards

@_HudsonYardsNYC

Only the largest real estate development project ever. Participants in RETech Week were invited to visit the recently opened 10 Hudson Yards and enjoy cocktails hosted by Hudson Yards and REBNY.

In a week chock-full of information and ideas, these companies helped describe the impact of technology on the world of CRE. In cooperation with Reed Midem, the event also included the first MIPIM PropTech Summit in North America.  We look forward to seeing what next year’s event will hold. Meanwhile, the conversation can continue, new ideas can percolate, and the tech innovations can proceed apace. Follow these leaders on Twitter and you won’t miss a thing.

About EVO Real Estate Group

EVO Real Estate Group, a member of NAI Global,  was founded on the guiding principles that govern our approach to every transaction – exceptional service, personal attention, open communication, strategic insights, complete commitment and dedication – that are the cornerstones of our business model.  NAI Global is the largest and most powerful network of independent commercial real estate companies in the world with over 375 office and more than 6,700 professionals.