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 272 • SHOPPING CENTER BUSINESS • May 2016 the neighbors, we listen to the community and we listen to what the city planners and leaders are telling us in terms of their ex- pectations. We create these very produc- tive and positive collaborations with the communities and the approvals process." Berman notes that many questioned the company's retail leasing plans in the beginning: "We have Fashion Island and South Coast Plaza in our strike zone, and people wondered how we could lease to the tenants we wanted, given the local competition. But there are a number of very independent street merchants that have clearly had an opportunity for years to go into those other projects and have chosen not to do that. These are tenants that are on Abbot Kinney, in the Meat- packing District in New York, in Brook- lyn, or that have stores in Europe and that would never go into a 'development.' They look for unique street locations but are going into our location because we are creating one of the great streets right in the middle of Newport Beach and I don't think Orange County has really had that before." According to Berman, DJM studied the Lido customer for some time before they started leasing. She says, "We knew that they were discerning, that they could shop anywhere — that they did shop ev- erywhere. They are well traveled. And our competition could just as easily be London or Paris or New York as Fashion Island, because that is where these folks are able to shop. That set the bar kind of high, but it was also an exciting opportu- nity for us." She says, "Merchants like this are very artful in their approach to merchandis- ing and customer-building. They like the spontaneity of the streets. They like to be on walking streets; they like to be in art districts; they like to be places where there is a little unpredictability rather than the typical manufactured quality that the mall, by its nature, has to offer. It was a learn- ing curve for us. We knew the merchants that we wanted — we knew they would be appealing to the locals. In traditional shopping center leasing, you don't always have the opportunity engage in a dialogue with these kinds of merchants — the ar- tisans, tastemakers and style setters. The shopping center world is changing in such a way that you do have an opportunity to have a dialogue with great chefs today. But developers are not always in conversa- tion with the tastemakers in the world of fashion and home and lifestyle merchan- dising. It was very exciting to our team to be able to have those conversations." New stores and restaurants will begin opening in late spring, with the majority open by early fall. Retailers that have signed on at Lido Marina Village include Australia-based Aesop, which features skin, hair and body care products; Charlie & Me, a high-end pet store owned by Newport native Taylor Beauchamp; and local favorites, boutique gym Curl Fitness and Tress Apothecary + Salon. California-based inspirational home and lifestyle brand Serena & Lily is opening its fifth location at Lido Marina Village. Independent bookstore Lido Village Books, which has been at the location for decades, is undergoing a renovation overseen by architect Rand Kruse. Apparel retailers will include Black Optical, Alchemy Works: Harbor House, Bailey 44, Clare V. Newport Beach, Elyse Walker, Faherty, Jenni Kayne, Planet Blue and Steven Alan. Food tenants will include Nobu, a Japa- nese concept known as much for its inno- vative cuisine as for its celebrity following; Juice | Served Here, a Los Angeles-based juice bar; and Publica by Zinque, which has locations at Abbot Kinney and West Hollywood and will feature waterfront patio seating and chic interiors with a wine bar, as well as a streetside takeout counter. According to Berman, new tenants became part of the leasing process: "We would speak to Clare Vivier, or Serena & Lily or Steven Alan himself — or any of the people who loved our center and said yes right away — and they would say, 'You've got to talk to my friend so and so; they will love Lido.' There was this momen- tum among these tastemakers themselves about Lido Marina Village that we were able to capitalize on and benefit from." SCB Located 65 miles west of Chicago and home to the Illinois' 3rd largest public university, DeKalb offers abundant retail opportunity, a skilled labor force, a Municipal Airport, and easy access to the I-88 and I-39 corridors. From Downtown to NIU and Sycamore Road, we have commercial space available in all sizes. L o Economic Development Incentives are available. • 815.748.2365 You'll Love Our Buying Power! Join Us! Within a 15-mile radius of downtown DeKalb, there are 106,071 residents in 39,174 households with an Average Household Income of $54,101.

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