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FEATURES Table 6-2


Number of Shopping Centers, Factory Outlets and Retail Parks by Macro Region, 2013 Traditional Shopping Centers (Square Meters)


Macro Region North Center


South and Island Format Total


Format Share of National Total Source: UrbiStat (www.urbistat.com) Table 6-3 Gross Leasable Area (GLA) and Densities by Macro Region, 2013 Population Macro Region Count North Center


South and Island Total


27,194,765


Share of Total


45.8%


11,591,705 19.5 20,640,762 34.7 59,427,232 100.0


Source: UrbiStat (www.urbistat.com)


center GLA, are concentrated in the North (57%).2 Three centers that can be classified as very large (i.e., with a GLA larger than 80,001 sq m) are in the Center and South, while most large shopping centers (with a GLA ranging from 40,001 and 80,000 sq m) are in the North (22 out of 35 total large schemes). (See Table 6-2.) Nearly half (46%) of the total resident population lives


in the North, where 54% of total national consumption takes place. Considering the total stock of existing GLA, the commercial density3 in Italy is equal to 310 sq m per thousand inhabitants. Density is significantly higher in the northern (387 sq m) rather than the southern (229 sq m) provinces. (See Table 6-3.) If stand-alone stores next to a mall are counted, the


largest Italian shopping center is Etanapolis in Sicily, with 102,000 sq m of GLA; excluding this adjacent freestanding space, the largest centers are Roma Est (98,000 sq m) and Porta di Roma (97,000 sq m), both in the nation’s capital.4 However, if centers are ranked by the number of


Total Consumption Total GLA Euros €523,291,001,272


Share of Total


54.4%


196,042,107,784 20.4 241,818,274,834 25.2 961,151,383,891 100.0


(Square Meters)


10,533,968 3,175,794 4,730,454


18,440,216 Commercial Density


GLA per Thousand Inhabitants


(Square Meters) 387


274 229 310


Consumption per Square Meter of GLA


€49,677 61,730 51,119 52,123


retailers, the largest malls are Porta Di Roma (241 shops5) and Roma Est (210 shops). (See Table 6-4.) According to shopping-center developer Sonae Sierra,


nearly all Italian shopping centers6 are anchored by grocery operators of different sizes. At the same time, leisure components such as cinemas, bowling, fitness clubs or organized playgrounds are becoming increasingly present. However, the number of shopping centers that currently host a leisure tenant is still quite low (169 out of 1,071 schemes), representing 15.7% of the total. The grocery format most represented in Italian


shopping centers is the hypermarket, with a sales area larger than 2,500 sq m. More than four out of five (85%) shopping centers larger than 5,000 sq m of GLA contain a hypermarket. Shopping centers that opened in the past 10 years tend to be larger than their predecessors, boasting a growing number of specialized tenants. This trend has affected especially large and very large hypermarkets, which started to witness losses in non-food related sales.


2 Data provided by UrbiStat, a leading European retail software house. For comparative purposes, Italian regions are collected into larger macro regions throughout this article. These geographic divisions are formally recognized by the Italian national institute of statistics (ISTAT). For simplicity here, the Northeast and Northwest macro regions and South and Island macro regions are aggregated. This geo-aggregation is widely accepted in Italy. The macro regions are centered around the following key cities: Milano (Milan), Segrate, Venezia (Venice), Genoa, Ravenna, Villese, Brescia, Vinovo, Parma, Verona, Bolzano, Sarzana, Castelli Calepio, Jesolo, in the North; Roma (Rome), Firenze (Florence), Bologna and Barberino di


Mugello, in the Center; and Bari, Naples, Partinico, Reggio Calabria and Salerno, in the South. 3 The commercial density, or per-capita space, is calculated based on the total stock of GLA divided by total resident population. 4 UrbiStat. 5 According to Corio’s website. 6 97%, excluding retail parks and factory outlets.


INTERNATIONAL COUNCIL OF SHOPPING CENTERS 28 2 RETAIL PROPERTY INSIGHTS VOL. 20, NO. 2, 2013


Less Than 15,000


398 161 153 712 56%


15,001 < 40,000 40,001 < 80,000 Greater Than 80,001


181 46 94


321 25%


22 4 9


35 3%


0 2 1 3


0%


Factory Outlet Centers


15 9 8


32 3%


Retail Parks


112 28 34


174 14%


Total


728 250 299


1,277 100%


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