Shopping Center Business

MAY 2016

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

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Page 232 of 358

VALUE CREATION 228 • SHOPPING CENTER BUSINESS • May 2016 engagement as early indicators of brick- and-mortar potential. More Food & Lifestyle. Internet-re- sistant merchandising involves a height- ened focus on increasing the amount of restaurants, fast-casual, coffee, fitness and lifestyle-oriented concepts within a prop- erty. Even fast food companies such as Taco Bell are joining the experiential movement testing a new concept "Canti- na" which will provide fast-casual dining and serve alcohol. E-tailers to Brick-and-Mortar. An increasing number of e-tailers including BaubleBar, Birchbox, Pirch and Warby Parker are moving from the internet to brick-and-mortar stores to cater to mil- lennial shoppers. Amazon recently rolled out physical bookstores to provide a more interactive and informed book-shopping experience. Landlord Investment & Exper- imentation. To attract these experi- ence-focused tenants and align incentives, landlords can invest in a tenant's improve- ments and provide rent concessions in exchange for economic participation in the retailer's business. Landlords can also directly provide space and/or utilize data from temporary pop-up stores to experi- ment and test new concepts before com- mitting to a long-term lease. Common Areas. For mixed-use prop- erties, common areas such as courtyards, gardens, and seating areas, can be lever- aged to drive social human interaction. Providing space to "hang-out" and so- cialize has never been more important as millennials and elderly alike demand urban alternatives to Starbucks and mall food courts. Mixing Uses. Not all ground floor spaces need to be retail in the absence of foot traffic and density compaction. These spaces can lend themselves to other experiential uses such as office co-work- ing, and healthcare and veterinary services to complement existing retail. The art and science of evaluating prop- erty experience versus sales per-square- foot when assessing retail performance is an important consideration for retail suc- cess today. These ideas can help to imple- ment viable, experiential and sustainable retail properties that will enhance the lo- cal neighborhood and community. SCB Babak Ziai is founder of BrandView Capital Partners, a commercial real estate investment management and advisory firm focused on urban commercial and mixed-use properties within top-tier urban markets. Retail - Commercial - Industrial Gaither Loewenstein Economic Development & Planning Manager 760-255-5177 gloewenstein@barstowca.og Fuel Cells Waste Reduction Organics Pollution Controls Wind Power Green Technologies Hydroponic Farming Logistics Film Industry Tourism Warehousing Manufacturing Barstow, has room for your company as well as room to grow. Barstow, can supply talented, diverse, educated and trainable hard working employees. Incentives from the city, county and state. A strategic location on interstates 15/40, half-way between the Los Angeles Harbor and Las Vegas. Nearby the So. CA Logistics Airport, and U.S. Customs and Foreign Trade Zone. Surplus demand for furniture, sporting goods and hobbies, home furnishing, health and personal care, electronics and appliances. Come see what Barstow is all about! Opportunity Knocking for… Retail Retail Retail The art and science of evaluating property experience versus sales per square foot when assessing retail performance is an important consideration for retail success today.

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