Tony D'Onofrio
Retail
Page 16 of 18
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It is a Small World
Continuing our journey to learn something new, we next stop in Sydney Australia. The nickname of Sydney is Sin City which was the name given in the 20th century because of the crime rate and corruption.
Sydney officially became a city in 1842. It is situated at a similar latitude to Cape Town and Buenos Aires in the Southern Hemisphere and Casablanca, Los Angeles, and Beirut in the Northern Hemisphere.
Lots of cultures can be found in Sydney where there are more than 250 different languages spoken with English, Arabic, Cantonese, Mandarin, Greek, and Vietnamese being the main.
The steel and concrete Harbor Bridge, in addition to the Opera House in this picture are some of the highest recognized landmarks in the world. The Harbor Bridge is affectionally nicknamed as the Coat Hanger.
The Sydney Opera House was listed as a UNESCO World Heritage site in 2007. Queen Elisabeth II inaugurated its opening on October 20, 1973. The roof is made of 2,194 precast concrete sections which way up to 15 tons. Eight Boeing 747s could sit wing-to-wing on the site.
Sydney was another business stop to meet with the local sales teams and major retailers. Favorite places like Sydney are what inspires my multi-cultural approach to business and life. It is a big world out there. Take the time to dream, explore, and discover the possibilities of creating a life with no regrets. The world will not come to an end today as it is indeed already tomorrow in Australia.
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The Real Retail Reality: Stores Thrive Among Uncertainty
With new retail supply projected to drop by 45% in 2025, the focus is shifting to optimizing existing spaces. As a result, vacancy rates remain tight, and interest in existing retail properties continues to grow. Physical stores still account for the vast majority of core retail sales—76.2%—and the pace of erosion is slowing as online growth stabilizes. - From Colliers Read more
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