Gatewood Retail News

Gatewood Retail News

Spotlight: Baldwin County

Baldwin County, home to the Alabama Gulf Coast beaches, continues to grow in jobs, population and visitors SOURCE:  Business Alabama Writer: Lori Chandler Pruitt BALDWIN COUNTY, home to the beautiful Alabama Gulf Coast beaches, is growing very quickly by just about any measure. In fact, it’s now the fourth-largest county in Alabama by population. “Most every other economic engine here is driven by the fact that people either want to visit here or live here,” says Tanner Jones, data and communications manager of the Baldwin County Economic Development Alliance. The Daphne-Fairhope-Foley metro area is the seventh fastest growing in the U.S., Jones says. “Baldwin County is attracting more and more attention from business leaders and investors across the country and the world.…

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ICSC 2022: Shop, Dine, Work and Play Converge

Source:  Commercial Observer Writer: Greg Cornfield Retail real estate isn’t going anywhere, but after a global pandemic and the unprecedented growth of the e-commerce industry, it’s time to reassess how brick-and-mortar shopping and food services work best in the built environment. At the International Council of Shopping Centers convention in Las Vegas this week, analysts and experts broke down the convergence and placemaking of shop, dine, work and play in a post-COVID era. SEE ALSO: HNA Owes SL Green $185M Over Surprise Bankruptcy Anjee Solanki, national director of retail services and practice groups for Colliers, moderated a panel discussion with Naveen Jaggi, president of retail advisory brokerage services, leasing and capital markets for the Americas at JLL; Craig Robinson, chief growth officer for flex operator Industrious; and Adam Williamowsky, director of restaurants…

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Consumers Rediscover the Joy of Brick and Mortar Shopping

Source:  Globe Street Writer: Kelsie Maree Borland Retailers are struggling to keep up with intense demand as consumers return to in-store shopping. Once again, brick-and-mortar retail has risen from the ashes. Many predicted that it wouldn’t happen. They thought the pandemic had upended in-person shopping and consumers would permanently favor buying goods online. In the early days following the pandemic, that theory has proven false. Instead, consumers have returned to physical stores with a fury—and demand is so strong, retailers are struggling to keep up. Last year, retail sales totaled a staggering $5 trillion, growing more than 17% from 2020, according to data from the U.S. Department of Commerce, and e-commerce sales made up 13.2% of the total. Online shopping…

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Tuscaloosa Entrepreneurs Pitch Downtown Hotel Parking Deck with 400 Spaces

Source:  Tuscaloosa Thread Nov 2nd 2021 Writer:   Stephen Dethrage A group of entrepreneurs, business leaders, engineers and developers pitched the construction of a high-end hotel in downtown Tuscaloosa that could also add 400 parking spaces, three new restaurants and first-class office space to a “blighted, downtrodden” area of the Druid City. In a presentation to the city council’s finance committee Tuesday evening, attorney Bryan Winter shared his vision of what he is preliminarily calling “Project Wow.” “I come today with an opportunity,” Winter said. “An opportunity I don’t think comes along very often — out of all the projects that I’ve worked on with the exception of maybe some industrial things that created an incredible amount of jobs, this is…

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MEMBER PROFILE: ‘TUSCALOOSA HAS BEEN GOOD TO US,’ SAYS ALEX GATEWOOD, OWNER AND FOUNDER OF THE LOCKER ROOM

Source:   Alabama Retailer / November Member Spotlight Writer:   Nancy Dennis November 4, 2021 Alex Gatewood initially came to Tuscaloosa to go to graduate school at The University of Alabama. Instead, he put his marketing and retailing undergraduate degree from Mississippi State University to work immediately. He entered a management training program for Pizitz, one of Alabama’s leading retail department stores at the time. After a year and a half, that experience convinced Alex he had what it took to operate his own retail business. On Nov. 1, 1964, he and a partner opened a 750-square-foot store at 1402 University Blvd. on The Strip in Tuscaloosa called The Locker Room. At the time, Alex was 23 years old. Fifty-seven years later,…

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‘Destination Versus Desperation’: Upscale Convenience Stores are Coming for Prime Retail Locations

Source: BisNow Atlanta Writer: Jarred Schenke When Paul Nair opened the first location of his upscale neighborhood grocer, Savi Provisions, in Atlanta’s Inman Park neighborhood in 2008, he didn’t realize he was on the cutting edge of a trend that has begun to reshape retail markets from the suburbs to prime corners of Manhattan. Savi Provisions, which serves curated wines, high-end cheeses and chef-prepared meals, should open its 25th location next year after expanding to Nashville, Savannah, Durham, Raleigh and Charlotte, Nair said, and his next concept is doubling down on the collision of convenience and craft food and beverage. This month, Nair expects to open the first UPop, which stands for Urban Provisions Offering Petroleum, an Arco gas-served convenience store on Peachtree Road in…

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Hotel Restaurants Get Ready for a Rebound

Source: FSR Writer:  Nicole Duncan October 2021 It’s been a long time since restaurants were a mere afterthought for hotels. As consumer enthusiasm surrounding global flavors and the overall dining experience ballooned, the other side of the hospitality industry recognized a new imperative. Hotels could either step up their on-premises restaurants or relegate foodservice to breakfast buffets and room service. Many chose the former, raising the stakes to such a degree that on-site restaurants are destinations unto themselves. New hotel restaurants are also popping up at a faster-than-normal rate, thanks in part to the pandemic. Last year, everything from construction to grand openings was delayed and now the industry is making up for lost time. Earlier this year, consumers began…

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Biden and Pelosi Set to Impose Tax Hikes on Small Businesses

Source: Americans for Tax Reform Submitted by jkartch on Friday, August 20th, 2021, 12,40 PM [To book an interview on this topic please contact John Kartch at jkartch@atr.org] During his campaign, President Biden promised the American people that he would not raise taxes on small businesses. Now he is violating that promise, and next week House Democrats will vote on the framework to make the tax hikes possible. Biden’s small business tax promise was made on Feb. 20, 2020 before a national audience during a Democratic debate hosted by MSNBC: MSNBC’s Hallie Jackson: “I want to ask you about Latinos owning one out of every four new small businesses in the United States. Many of them have benefited from President Trump’s tax…

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Experts Believe a Retail Property Surge Is Coming Fueled by US Economy With ‘Strongest Growth in a Generation’

(Getty Images)SOURCE: Loopnet Reporter:  Linda Moss The latest forecast for the U.S. retail property market over the next few years is looking bullish, with the industry buoyed by a strong and fast-growing economy, pent-up consumer demand because of the pandemic, and the desire for shoppers to connect with a human. A panel of executives from brokerage JLL presented their first webinar update on retail since the end of last year, when the world was in the grips of COVID-19, in lockdowns and with mandated business closings. Last year there were predictions of a brick-and-mortar “retail Armageddon” because of the pandemic, according to Naveen Jaggi, president of JLL America Retail Advisory Services. It hasn’t turned out that way, he said. “If…

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Krispy Kreme Seeks Roughly $4 Billion Valuation in IPO

FINANCE   JUNE 22, 2021   BEN COLEY   The doughnut chain is offering 26,666,667 shares at a price of $21 to $24 per share. Krispy Kreme hopes to raise between $560 million to $640 million through its IPO, according to an SEC filing. The doughnut chain is offering 26,666,667 shares at a price of $21 to $24 per share. That range implies a valuation of $3.46 billion to $3.96 billion. Underwriters have 30 days to decide whether to purchase up to an additional 4 million shares. The company will use net proceeds from the offering to repay debt, repurchase shares of common stock from certain executives, make payments on tax withholdings relating to certain restricted stock, and for general corporate purposes. Krispy Kreme…

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