Mega Projects Tracking and Monitor Archives

Wholesale Trade Market for Dubai, in Development

21.09.2020 Mega Projects Tracking and Monitor

SCP’s Project Monitor

A wholesale trade market for Dubai is now under development, to propel Dubai as a destination for global players in wholesale trade. Investment Corporation of Dubai (“ICD”) is creating the one million SF wholesale mart, to be named Dubai Global Connect (“DGC”).

Also known as “The City of Trade,” the DGC is a next economic development program for an emirate well-known for such innovations. The facility will boost Dubai as a global destination for players active in wholesale trade. ICD is a sovereign wealth fund of the United Arab Emirates.

The initial focus of the BtoB wholesale market will be in three industry sectors: furniture and living, food, and fashion. Wholesale markets around the world offer permanent showroom spaces that are open to qualified retail buyers and designers, manufacturers, and industry professionals, and can be fitted-out by sellers according to their own style and budget. The showrooms are closed to the general public.

Market Center Management Company, Ltd. (Dallas) has signed on in strategic alliance with DGC for the development and management of the facility. MCMC operates ShanghaiMart, Trade Mart Brussels, and Dallas Market Center.

ICD’s announcement and a description of this wholesale trade market for Dubai, is covered in a recent article by Arabian Business: Dubai unveils plan for giant B2B wholesale market

Retailer bankruptcies and store closings.

Lifestyle Retail Centers the “Evergreen” for Malls?

As winners and losers become apparent, lifestyle centers may be well-poised for the future.

Are lifestyle retail centers, the “evergreen” among mall formats? For several important reasons, we believe this may be true.

Let’s start with the capacity for lifestyle retail centers to adapt and retrofit over time. Most of the best lifestyle centers feature single-story retail, or at maximum two-story. And these centers are also commonly set up in main street configurations, sometimes even with a city grid (block) format. As the businesses that reside in a lifestyle change evolve, grow, get replaced, and the like, the cost of change-outs are simply less expensive than enclosed malls or shopping centers set within fixed overall shells.

Lifestyle retail centers are also less likely to be anchored by the department store and big box retailers that are facing their possible obsolescence. And where a lifestyle center has been “anchored” by a retailer or lifestyle center (such as a fitness club) that has lost its lease, the vacant store and its pad are not difficult to re-purpose for even a new land use. And since such anchors typically have had some amount of adjacent dedicated parking, re-configuring a building shell is somewhat more flexible when some surface parking is used.

Like politics, the feasibility and success of all lifestyle centers are local. Accordingly, as local market conditions change and consumer preferences evolve, the mall product augmentations may head towards location-based entertainment, to mixed-use reconfiguration, and of course, a full scraping of the original mall concept. Some of the reconfiguration possible include last-mile fulfillment for online retailers as well as dark grocers handling similar online fulfillment. Shopping centers are usually well-located with regard to their local customer support for of course these centers work well for fullfillment.

Then there’s the placemaking and “gathering place” aspects of lifestyle retail centers. The open-air design of lifestyle centers is conducive to providing attractive (and green) walkways, approaches from parking, sunshine (when available), and outdoor settings and structures that we all of enjoy. When a shopping trip is more about having an experience, enjoying some camaraderie, and doing some people watching, it becomes apparent that … just maybe … lifestyle retail centers may be the new mall “evergreen” format.

Our directory and history of lifestyle retail centers, is available at the link provided below.

Lifestyle retail centers the new mall evergreen?

Lifestyle retail centers may be the new mall evergreen, in terms of mall configuration and customer appeal.

Directory of Lifestyle Retail Centers

Film Studios Development Consultants - SCP Experience

There Are 20+ New Film Studios in Development, Worldwide

18.09.2020 Mega Projects Tracking and Monitor, News about film studios and backlots, StoneCreek Partners News and Research

Much of the development is occurring in the U.K., Canada, and in New York.

There are 20+ new film studios in development worldwide. The slate of new production facilities is coming to market even as the global film industry copes with re-opening after the Covid-19 pandemic and the concurrent economic shutdown.

In fact, the number and scale of these new stages and production support venues may be at an all-time high for delivery of such facilities within a couple-year period. As well, this surge of studio development arrives just as burgeoning content production has been overwhelming existing facilities. In the following, we’re sure a few of these will lag due to financing and local land use approvals, but regardless, there’s a lot coming.

This new facility surge is primarily focused in the U.K., in Canada, and within the U.S., in the New York and New Jersey. Many of these new film studios are coming to market as a direct result of visionary public officials seeking local economic development through creative repurposing of former warehouses, rail yards, factories, and industrial buildings.

In the U.K., new film studios coming to market include Ashford International Studios (former Newton railway works site), Blackhall Studios (Reading), Dagenham Film Studios (at London East Business and Technical Park), OMA Film Studios (London), and Sky Studios (Elstree). Mercian Studios (Birmingham) may also be on the horizon but does not appear to have a project site fully confirmed. The Dagenham project may lag a bit with Pacifica Ventures having dropped out after being awarded the tender.

Over in Scotland, First Stage Studio (Port of Leith) now has a developer having won the tender by Screen Scotland for a repurposed site that has been used temporarily production of portions of the Disney/Marvel film, Avengers: Infinity War.

Among the largest new facilities coming to Canada are Martini Film Studios (Langley, BC) and Studio City Toronto (Ontario), and possibility, along with First Studio City (Markham) and Aeon Studio Group’s Hamilton Studio District.

In New York and New Jersey, newly-arriving film studios include Lionsgate Studios (Yonkers)), Netflix New York (Brooklyn), Sunset Park (Bush Terminal), Robert De Niro’s Wildflower Film Studio (Queens), as well as in New Jersey – Caven Point Studios (Jersey City) and the Industry Go facilities also in Jersey City.

A full list of the 20+ new film studios in development is provided in the Global Directory of Film Studios at the link below, along with a roll call of existing facilities worldwide.

Global Directory of Film Studios - Existing and Planned

Sports mega-complexes the new multi-purpose anchor

Sports Mega-Complexes are a Flexible Anchor; a New Kind of Gathering Place

13.09.2020 Mega Projects Tracking and Monitor

SCP’s Projects Tracking & Monitoring

Sports mega-complexes (“SMC’s”) are a flexible new anchor for private and public sector projects. The term “sports mega-complexes” refers to facilities that include playing fields (and surfaces), practice facilities, and support amenities, for more than one sport as part of a single integrated complex. Sports mega-complexes can be outdoor, indoor, or a combination of both.

The coming generation of sports mega-complexes will pull from an array of “best practices” culled from like-kind venues. Consider, the real estate industry has already grown accustomed to fitness venues situated within shopping centers. Communities and private developers have now made the case for sports mega-complexes. Some family entertainment center (FEC) operators have brought elements of both place-products within their facilities. Even elements of so-called “recreation adventure parks” are adaptable and worthy for a role in sports mega-complexes.

All of the above place-products are adaptable to relatively horizontal suburban and exurban locations, as well as more dense (vertical) urban settings. The best mix of activities for a particular location is a matter of consumer demand and preferences in a local market. Given the variation possible with the place-product, sports mega-complexes are a flexible anchor for consideration in a variety of real estate settings – malls, mixed-use, town centers, and of course, standalone community center locations.

Some examples past and present include Cocov Destinations’ repurposing of Summit Mall in Niagara Falls, to form the Niagara International Sports & Entertainment (NISE) complex. Cocov has not only slated indoor and outdoor sports at NISE but has an adjoining outdoor soccer and baseball playing fields complex in planning.

Another very different example, Sport Center Las Vegas (1998), was a terrific new place-product that happened to be developed at a poor location, but included both indoor and outdoor sports and entertainment in a themed setting; some nice ideas worthy of consideration for upcoming developments.

Directory of Sports Mega-Complexes

Project Players & Tracker will be online on September 15.

27.08.2020 Mega Projects Tracking and Monitor

Project Players & Tracker will be online on September 1. We have retooled our former client newsletter, Global Players Brief, with a larger research team and on-the-ground correspondents in key global regions. Please plan to visit us here soon!