Dining, entertainment options boost retail center foot traffic

03/28/2014 | CoStar Group

Maintaining foot traffic has proven challenging, but retail centers that have diversified tenants by adding entertainment and dining options to their properties have seen returns. Stephen Lebovitz, president and CEO of CBL & Associates, said restaurants have boosted traffic -- people can't eat via the Internet, he said -- and retail centers are becoming increasingly social and experiential. Additionally, retail REITs continue the practice of "capital recycling" to boost their bottom lines. The U.S. shopping center industry posted a 7% rise in net operating incomes for 2013, according to ICSC.

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