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July 2, 2020

Drive-In Theaters Are Providing Temporary Benefits To Developers And Mall Owners

It’s summer, and the entertainment-loving public has few options. Stay-at-home orders have led to a myriad of closures and cancellations, and reopening phases in some states have been halted or reversed in recent days, as coronavirus cases continue to climb.

Enter the drive-in theater, an unexpected winner in the pandemic fallout. Often overlooked in the era of massive chains like AMC and Regal Cinemas, drive-in theaters are experiencing a boom in popularity as people seek safe ways to have fun outside of their own homes.

That boom hasn't gone unnoticed. Some companies are pivoting — and fast — to provide pop-up drive-in theaters, partnering with local developers and property owners to create new revenue opportunities.

Drive-In Theaters Are Providing Temporary Benefits To Developers And Mall Owners

The drive-in theater business was relatively small before the pandemic. There were 305 permanent locations in the U.S. as of October, according to the United Drive-In Theatres Association, which doesn’t track pop-up locations. The number of drive-in theaters has been decreasing steadily for decades. Then the pandemic happened.Events companies like Kilburn…

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Office Sublease Space Sharply Rises In Chicago's CBD

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Sublease space increased significantly in Chicago's central business district in the second quarter, as the coronavirus pandemic raged through the business world.Available sublease space in the CBD rose 425K SF in Q2 to 3.7M SF, according to MBRE's Chicago Market Overview Snapshot for Q2 2020, released Wednesday.…

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Florida's 'Canvassing Queen' On How To Lease Up Retail This Summer

Some drivers will rip a U-turn, pull over in the middle of a busy road and switch on Instagram Live to capture an accident scene, a sudden tornado or rogue wildlife. Beth Azor does it when she spots an incredible leasing opportunity.

During one such dispatch, she was excited because she had just gone into a tennis store and discovered it was a chain with eight locations.

A CRE leasing agent, leasing coach and investor, Azor rose in the ranks at Terranova Corp., eventually becoming president, then founded her own consulting company, Azor Advisory Services, in 2004. She also owns six shopping plazas worth $79M in the suburbs west of Fort Lauderdale, which she leases and manages herself.

She has become known as “The Canvassing Queen” because of her willingness to knock on doors to know her market and find new opportunities.

Azor took a break from Instagramming to share with Bisnow a few tips for leasing during the coronavirus-challenged summer ahead.

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For Retailers, Safely Reopening Is One Thing, Keeping Shoppers Is Another

 

To keep shoppers coming in during the coronavirus pandemic, retailers are getting creative. 

Art walks in malls, drive-in movies in vacant parking lots and even hosting early morning yoga sessions, in which each participant takes up a parking slot as a way to follow social distancing protocols, are some of the events retailers have planned to attract customers to their properties in the midst of the coronavirus crisis.

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