Shopping Center Business

MAY 2016

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

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DJM CAPITAL PARTNERS 266 • SHOPPING CENTER BUSINESS • May 2016 $350,000 or more, according to a recent Bloomberg article that cited a ranking by Zillow economist Aaron Terrazas. The Bloomberg piece noted the city's prox- imity to Newport Beach, home to several high-paying financial companies, by way of explanation. While the location itself — with its ocean views and strong demographics — offers great potential, the key to a project like this is in knowing how to maximize the opportunity through design and brand- ing. "We had very high expectations in terms of who we wanted as tenants and very high expectations of which critical design components that we wanted to deliver," Miller says. DJM chose Jerde Partnership to design the project. "Pacific City was very compli- cated. The previous owners already had ground-floor podium in the dirt and you would think we could just start construc- tion. Not exactly," Miller says. "We closed on the property in November 2012 and went through a re-entitlement and rede- sign. We basically had to redo the entire parking structure because it would never have accommodated two levels of retail above two levels of parking. It was a com- plicated redesign because we do have po- dium parking and the structural compo- nents are critical to the project." Berman led the team that developed the brand for Pacific City — looking to em- brace the local lifestyle without getting lost in clichés. "If you buy property like this, you can't sit in an office in New York or Cleveland and say, 'We've got Hunting- ton Beach — Surf City USA — we'll put surf- boards everywhere and play Beach Boys music on the PA system.' That is a veneer, but that doesn't represent the most nu- anced opportunity," says Berman, whose background is in branding and marketing in entertainment, professional sports and fashion, where you work exhaustively on a brand for months or years before you launch it. She notes, "We studied the trade area around Pacific City. Huntington Beach is a laidback, casual community. People live the Southern California lifestyle everyday. They are fit; they are interested in healthy living. They are on their bikes more than they are in their cars. They bring their dogs with them everywhere they go. We looked at those kinds of things. We tried to build a brand in a place that would re- flect that." According to Berman, the dog beach at Pacific City is a big a destination. And, in fact, Top Dog Barkery, Bath & Boutique, a gourmet dog treat bakery that also offers Jerde Partnership was the architect for Pacifc City. The project hits a tone with local residents, who have quickly adopted it into their routines. Location, Population & Cooperation California CITY OF Follow success…to Hemet. With available sites, growing population (over 80K), rising household incomes and the center of a trade area of over 150,000 customers, Hemet is right for you, right now! To join those who've found success in Hemet and learn more about opportunities in Inland Southern California, the Nation's most powerful market, contact the City of Hemet, Administration Office at 951-765-2301 or kaguilar@cityofhemet.org www.cityofhemet.org

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