Anita Kramer - Retail Development

Recommended bibliographic listing:

Kramer, Anita, et al. Retail Development, Fourth Edition.

ULI Development Handbook Series. Washington, D.C.:

ULI-the Urban Land Institute, 2008.

Copyright 2008 by ULI-the Urban Land Institute

All rights reserved. No part of this book may be reproduced in any form or by any means, electronic or mechanical, including photocopying and recording, or by any information storage and retrieval system, without written permission of the publisher.

ULI-the Urban Land Institute

1025 Thomas Jefferson Street, N.W.

Suite 500 West

Washington, D.C. 20007-5201

Library of Congress Cataloging-in-Publication Data

Retail development.

p. cm. (ULI development handbook series)

Rev. ed. of: Shopping center development handbook. 3rd ed. c1999.

ISBN 978-0-87420-979-2

1. Shopping centersPlanningHandbooks, manuals, etc. 2. Shopping centersDesign and constructionHandbooks, manuals, etc. 3. Shopping centersManagementHandbooks, manuals, etc. I. Urban Land Institute.

II. Shopping center development handbook.

HF5430.C38 2008

658.87dc22 2008021827

10 9 8 7 6 5 4 3 2 1

Printed in the United States of America.

The mission of the Urban Land Institute is to provide leadership in the responsible use of land and in creating and sustaining thriving communities worldwide. ULI is committed to

• Bringing together leaders from across the fields of real estate and land use policy to exchange best practices and serve community needs;
• Fostering collaboration within and beyond ULIs membership through mentoring, dialogue, and problem solving;
• Exploring issues of urbanization, conservation, regeneration, land use, capital formation, and sustainable development;
• Advancing land use policies and design practices that respect the uniqueness of both built and natural environments;
• Sharing knowledge through education, applied research, publishing, and electronic media; and
• Sustaining a diverse global network of local practice and advisory efforts that address current and future challenges.

Established in 1936, the Institute today has more than 40,000 members worldwide, representing the entire spectrum of the land use and development disciplines. ULI relies heavily on the experience of its members. It is through member involvement and information resources that ULI has been able to set standards of excellence in development practice. The Institute has long been recognized as one of the worlds most respected and widely quoted sources of objective information on urban planning, growth, and development.

Books in the ULI Development Handbook Series (formerly Community Builders Handbook Series)

• Business Park and Industrial Development Handbook, 2001
• Mixed-Use Development Handbook, Second Edition, 2003
• Multifamily Housing Development Handbook, 2000
• Office Development Handbook, Second Edition, 1998
• Residential Development Handbook, Second Edition, 2004
• Resort Development Handbook, 1997

Cover Photo: Alderwood, Lynnwood, Washington.

Photo by Chris Eden/Callison Architecture.

Project Staff

RACHELLE L. LEVITT

Executive Vice President, Global Information Group Publisher

DEAN SCHWANKE

Senior Vice President, Publications and Awards

ANITA KRAMER

Senior Director, Retail and Mixed-Use Development Project Director and Principal Author

KATHRYN TERZANO

Associate, Information

NANCY H. STEWART

Director, Book Program

LORI HATCHER

Director, Publications Marketing

JAMES A. MULLIGAN

Managing Editor

DAVID JAMES ROSE

Associate Editor

BARBARA M. FISHEL/EDITECH

Manuscript Editor

BETSY VANBUSKIRK

Art Director

BYRON HOLLY

Book Design and Layout Senior Designer

CRAIG CHAPMAN

Director, Publishing Operations

Principal Author and Project Director

ANITA KRAMER

Senior Director, Retail and Mixed-Use Development

ULIthe Urban Land Institute

Washington, D.C.

Contributing Authors

JON EISEN

Managing Principal

StreetSense

Bethesda, Maryland

NORM GARDEN

Vice President

RTKL Associates, Inc.

Los Angeles, California

JEFF GUNNING

Vice President

RTKL Associates, Inc.

Dallas, Texas

GREGORY R. GUNTER

Vice President

3rd Works

Denver, Colorado

BRAD M. HUTENSKY

President

The Hutensky Group

Hartford, Connecticut

JULIE JONES

First Vice President, Management, Capital, National Operations

General Growth Properties, Inc.

Chicago, Illinois

CHARLES A. LONG

President

Charles A. Long Properties

Berkeley, California

MIDGE McCAULEY

Principal

Economics Research Associates

Washington, D.C.

MARIE A. MOORE

Attorney at Law

Sher Garner Cahill Richter Klein & Hilbert, LLC

New Orleans, Louisiana

SARA NASUTI

Director of Development

Summerwood Corporation

Conshohocken, Pennsylvania

RAY PELOQUIN

Vice President

RTKL Associates, Inc.

Washington, D.C.

JOHN R. TSCHIDERER

Vice President, Development

Federal Realty Investment Trust

Rockville, Maryland

WILLIAM H. WHITNEY

Principal

Whitney & Whitney, Inc.

Los Angeles, California

MICHAEL WRIGHT

Principal

Economics Research Associates

Los Angeles, California

Case Study Authors

ROGER DALE

Managing Principal

The Natelson Dale Group, Inc.

Yorba Linda, California

CLAIR ENLOW

Freelance Journalist

Seattle, Washington

STEVEN FADER

Principal

Steven Fader Architect

Los Angeles, California

MARTHA KRAMER FOX

Vice President

Fox Residential Group

New York, New York

ANNE FREJ

Director, Office and Industrial Development

ULIthe Urban Land Institute

Washington, D.C.

TERRY JILL LASSAR

Communications Consultant

St. Louis, Missouri

MICHAEL LECESSE

Executive Director

ULI Denver

Denver, Colorado

BETH SILVERMAN

Intern

ULI-the Urban Land Institute

Washington, D.C.

FRANK H. SPINK

Principal

Spink Consultancy

Annandale, Virginia

DAVID TAKESUYE

Director, Awards and Competitions

ULI-the Urban Land Institute

Washington, D.C.

Like all Urban Land Institute books, this is the product of the collective effort of many individuals, all of whom deserve our thanks and appreciation. Of most importance are the expert authors who willingly and enthusiastically imparted, on their own time, invaluable wisdom and knowledge. Because of the dramatic changes in the retail development industry that have taken place since the publication of the previous edition of this book in 1999 and our interest in expanding on certain topics, the authors were faced with creating whole new chapters rather than simple updates. Not only do they possess the expertise required for this book, but also they all have the additional rare skill of conveying the essential information in writing. We would like to extend a very special thank you to the authors for their interest, time, and patience. Clearly, it is their contribution that made this book possible.