| This morning at our monthly event in Dallas, we spotlighted retail in Texas, which the panel considers at a “7 or 8” on a scale of 10, with an expectation of strong holiday sales. At the mic, Neiman Marcus head of real estate Wayne Hussey talked about rising Internet competition, including the app Red Laser that allows you to scan any barcode at a department store and learn instantly where the lowest price is for that same item within a five-mile radius. Panelists said their hope is that instead of reducing items to commodities, this will increase the importance of brand. |
| Development! Construction! Yesterday we snapped this at Boston’s Fan Pier in the Seaport District of two buildings being developed by The Fallon Co, which has already pre-leased 1.1M SF to Vertex Pharmaceuticals, which is moving from Cambridge to this area near the airport. |
| At our annual Boston Summit, reps of BlackRock, New Boston Fund, and AEW Capital were upbeat about investment sales, with the usual caveat that it depends on location, quality and stabilization of asset, and creditworthiness of tenants. But it was a far cry from our summit a year ago there, where the question was whether Boston had hit bottom yet. |
| And we got a kick out of this stately Starbucks in the middle of Beacon Hill. For all the money they appeared to be raking in from latte orders, it’s appropriate it’s inside the limestone façade of a former bank. |
Publisher’s Travelogue: Dallas and Boston
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Related Topics:
AEW Capital, Neiman Marcus, Red Laser, The Fallon Co, Vertex Pharmaceuticals, Wayne Hussey
