Southeast Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in the Southeast United States.
Issue link: http://southeastrealestatebusiness.epubxp.com/i/912058
www.REBusinessOnline.com November 2017 • Volume 18, Issue 8 As U.S. airport retail sales climb, Southeast's major airports are setting themselves apart with local merchandising, unique design elements. By Camren Skelton Practice, Forethought Helped Prepare Property Owners for Hurricane Irma pages 18-19 page 15 page 14 Phase I of The Wharf Opens in D.C. Grocers Expand in Hampton Roads page 16 INSIDE THIS ISSUE D.C. Office Market Ups its Deliveries as Tenants Eye Amenity-Rich Spaces AIRPORT RETAIL FLYING HIGH M uch like retailers nowadays, sports venues are creating an experience for fans — one that endures before, during and after a game. From brewery taprooms and zip lines to Topgolf suites and $2 hot dogs, the Southeast's amenity-rich stadiums, ballparks and arenas are opening up the playbook for what fans can now expect when they go to see their teams play. The halo effect of these facilities is evident for their respective cities be- cause millions of fans pour in each year to cheer on their favorite teams, breathing new life into surrounding neighborhoods. Mixed-use, entertainment concepts are the MVPs of modern sports venues. By Camren Skelton A WHOLE NEW BALLGAME FOR FANS O nce marked by fast food joints and souvenir shops, airports across the country are infusing local flair into their retail and dining offerings, giving travelers a taste of the city's culture before they even step foot outside. While traditional brick-and- mortar retail has seen widespread dis- ruption in recent years, airport retail tells a different story. The North American airport retail market is expected to hit $9.9 billion in annual sales volume by 2020, up from nearly $4.2 billion in 2015 — a nearly 136 percent increase — according to a report from research firm MicroMarket Monitor. see STADIUMS, page 21 Orlando-based Cask & Larder expanded into Orlando International Airport last year. The focal point of the restaurant is a large oak tree, a popular social media geotag. I nterstate 85, one of the primary thoroughfares in the Southeastern United States, stretches 666 miles from Montgomery, Alabama, to Pe- tersburg, Virginia, roughly 23 miles south of Richmond. Along the way, the interstate weaves through some of the healthiest industrial markets in the country — Atlanta, Upstate South Carolina (Greenville, Spartan- burg and Anderson), Charlotte and Raleigh-Durham. Industrial users in these six markets depend on the interstate as a majority of their wares are shipped via truck. "As a rule of thumb for both manu- facturing and warehousing, proxim- ity to the interstate is very important," says John Barker Jr., president and chief development officer of Char- lotte-based Red Rock Developments. "For the inbound raw materials and the outbound finished goods, 90 per- cent of the time those are moved via trucks, so I-85 is a huge thoroughfare for the region." Ford Borders, principal of NAI Earle Furman, says that most if not all of the Upstate's new industrial construction is within 10 miles from I-85. "Being close to the interstate is huge now with gasoline expenses and with timing being so critical," says Borders. "The closer you can be to the inter- state the better." Charlotte and the Upstate are both in high demand for industrial Industrial markets in the I-85 Corridor are adding to their inventory at an impressive clip. By John Nelson TAKING THE HIGH ROAD see I-85 INDUSTRIAL, page 22 see AIRPORTS, page 20 The new Mercedes-Benz Stadium in Atlanta features a translucent, retractable roof that opens and closes like a camera aperture and a 360-degree halo video board. Photo courtesy of Mercedes-Benz Stadium