Shopping Center Business

MAY 2015

Shopping Center Business is the leading monthly business magazine for the retail real estate industry.

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Page 327 of 342

MAY 2015 • SHOPPING CENTER BUSINESS • 323 strAtegies for success So what does it take to combine these different retail categories successfully? Tenant management and a sophisticated leasing strategy is a big part of it. Tenants can define a project, but developers need to avoid having the tenants "build" the project. Even one big influential tenant can upset the design and development apple cart, reshuffling designs and altering strategic development initiatives that may have been several years in the making. Developers who want to make hybrid projects work need to stick to their guns and maintain a disciplined approach to re- tail and design fundamentals. Do not just make a deal now and figure the rest out later. Have a plan and be faithful to that plan. Compromises in design and leasing are inevitable, but should be considered carefully in the context of the overall health of the project. With bigger sites and larger projects, understanding how to position different parcels is essential. Consider how those different components interact with each other and impact circulation and connec- tivity within the project. Don't get myopic: maintain a 40,000-foot perspective and remember that you are not dealing with individual pieces, but with components of contiguous and cohesive master plan. If the master plan is not executed correctly, you can shoot yourself in the foot before you sign the first tenant. Because so many of the most active developers today have a primarily residential background, ap- preciating the nuance and importance of retail master planning considerations may require the insight and expertise of a retail specialist. The bottom line is that successfully integrating disparate retail categories that frequently present different perspectives, priorities and operational realities is not easy. New hybrid developments present new challenges that must be addressed if a project is to achieve its potential. When executed correctly, however, the end re- sult can be a stronger, more dynamic, di- verse and appealing retail or mixed-use destination. SCB Jim Baeck is principal with De- sign 3 International, an interna- tio nal architectural design frm that specia lizes in the conception, planning and design of iconic re- ta il and mixed-use developments throughout the world. Bull Street Common, located in Columbia, South Carolina, will be part new build, part redesign and update. The mixed-use project will feature retail, residential, hotel, multifamily, office, luxury cinema and minor league ballpark. • 7 Prime Retail Sites Available Strong trafc counts, available utilities and zoned for commercial development. • Centrally located to Boulder, Denver, Fort Collins, and Denver International Airport A contemporary town with modern amenities and comforting closeness to larger cities. • $108,000 Average Household Income and a population of 22,000 Income and population growing at a faster rate than the region. • Highly Educated 52.9% of Erie residents are college graduates. • Median Age 35.9 Growing families, young professionals, and active adults are drawn to our panoramic location, scenic trails, championship golf course, recreational activities and more than 340 days of sunshine per year. • Active and Health Conscious A dynamic community with a passion for the outdoors. ERIE COLORADO your customers are already here VISIT US at RECon! N1946T same place • new booth number For more information, visit us at 303.926.2769 g

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