ACBR Education Seminar,
Wednesday June 20, 2018
The Retail Revolution
How it affects Owners, Developers, Retailers and Brokers
Ray Uttenhove of SRS Real Estate Partners Southeast was the Program Coordinator and Moderator for this dynamic program focused on both the evolution and revolution happening throughout the retail environment. Ray was joined by three outstanding panelists who provided an inside look at the current and future trends arriving soon to our communities.
As the Senior Vice President-Southeast, Development at EDENS, Herbert Ames understands the critical role that food plays in establishing an epicenter for retail development. Herbert has managed more than 2.1 million square feet for retailers including Whole Foods Market, Publix, Target and The Fresh Market. For a company that doesn’t do residential development, it seems that a great deal of their current development seems to have a residential aspect, and he stressed the power of design in the context of defining the brand and the vibe. Herbert answered questions about Andrews Square development in the West Buckhead community, confirming the Whole Foods presence as well as outlining plans to continue transforming this unique blend of local favorites, rising newcomers, and established restaurants and shops.
Jeff Garrison, Partner, with SJ Collins Enterprises spoke about the need to have more than just an A+ location, describing the necessity of creating a “gravitational pull” that fosters energy and visibility. He also talked about revisiting the idea of retail anchors, using Krog Street Market as an example of being anchored by the Beltline, rather than a large tenant. He used their new development in West Midtown, The Interlock, as a prime example of the thought process behind truly activating the total guest experience.
Adam Schwegman, Vice President Food and Drink at General Growth Properties, addressed the challenges for redevelopment of malls, as GGP’s portfolio is focused primarily on high-quality retail throughout the U.S. Adam spoke about the non-traditional elements that complement luxury retail including hospitality and residential sectors, and the idea of building communities and connectivity.
Ray also had each panel member talk about the impact of e-commerce, and the responses were surprising. Rather than feeling threatened by ecommerce, the experts talked about how this trend needs to be embraced, and that it is the driving factor behind some of the most innovative developments in retail. In addition, Herbert cited the fact that e-commerce represents only 10-12% of the overall market, and that shipping, returns and high customer acquisition costs.
We appreciate the support of our Educatio Sponsors:
Avison Young :: CBRE :: Colliers International :: Commercial Experts, Inc.
Cushman & Wakefield :: First Colony Financial Group :: JLL ::
Newmark Knight Frank
Richard Bowers & Co. :: Scotland Wright Associates ::
SK Commercial Realty LLC :: Wilson Hull & Neal
We would also like to thank our Annual Sponsors:
Atlanta Business Chronicle
:: Business Environments
:: Georgia Power
Jeff Garrison is a partner at S.J. Collins Enterprises and has been with the company since its 2007 inception. Jeff handles the intricate mechanics that bring a development property together – from locating new projects, building tenant relationships, communicating with neighborhood groups, hiring the right contractors and shepherding the project to its final phases.
His first career in finance -- trading derivative options in Chicago and London --bolsters his financial acumen and complements his development experience. Additionally, he was a real estate investor prior to making the transition to development and brings a wealth of retail development experience to his role at S.J. Collins. Over the past decade he has developed more than 5 million square feet of retail and mixed-use space across the country.
Jeff graduated magna cum laude with a degree in both real estate and speculative finance from the Wharton School of Business at the University of Pennsylvania. He holds a Georgia real estate license and is a member of the International Council of Shopping Centers. He currently serves on the board Mount Vernon Presbyterian School, where his children attend school.
Jeff lives in Atlanta with his wife Jennie. The two have three children.
Adam manages a team responsible for leasing restaurants for mall and redevelopment projects nationwide in the General Growth Properties portfolio. Prior to joining GGP, Adam worked for Cousins Properties, where he leased urban and suburban retail and mixed use projects and Robert Charles Lesser & Co., where he conducted market studies on the full range of real estate product types. His experience includes retail and full service restaurant leasing; merchandise and site planning; site and market evaluations; assessing demand; devising recommendations for product type and tenant mix; and product type feasibility analysis. Adam began his career as a real estate underwriter at Bank of America in the Home Builder Division and earned his Bachelor's in Finance from University of Tennessee in Knoxville. He is a member of ICSC.
Ray Uttenhove joined SRS Real Estate Partners in June, 2005 after a 25 year career in retail with CB Richard Ellis. She leads the Atlanta office and serves on the SRS Board of Directors. She has a significant record of achievement in providing comprehensive real estate and consulting services to users and owners of retail real estate.
Ray understands strategic, multi-market expansion planning and implementation, resulting in high-volume, profitable stores and restaurants. She also specializes in creative solutions, such as aggressive roll-outs of new concepts and challenging in-fill site selection while directing acquisition and disposition assignments across a broad geography.