Shopping Center Business

DEC 2016

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

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VIRTUAL LEASING 142 • SHOPPING CENTER BUSINESS • December 2016 W hat if you could walk through a shopping center that hasn't been built yet? What if you wanted to see how a retail façade would look in a different color? With different signage or landscaping? What will the center look like in spring when trees are budding? In winter, when people can ice skate in the courtyard? In autumn, as the sun is setting, around dinnertime? Although construction hasn't even be- gun, Madison Marquette's development and leasing teams are already using virtual reality to shape Montgomery Promenade, a 300,000-square-foot regional lifestyle center in Montgomery Township, New Jersey, that will start construction in spring 2017 and open in 2018. Madison Marquette is the developer, owner and manager of the property. Madison's architecture firm, Massa Multimedia Architecture (MMA), has been developing architectural virtual re- ality techniques for the past decade. Its work, through an in-house animation operation called Studio B, has brought Walmarts and shopping centers out of the ground using this 'just-like-being-there' technology that brings architectural plans and renderings to real life via a multime- dia simulation. It's just like moviemaking, says Gabriel Massa, MMA principal. The firm uses movies constructed from renderings and plans to demonstrate to planning, construction and neighbor- hood boards how projects will look and feel when complete. Owners can even adapt and tweak their projects on the spot as each process moves along, without waiting days or weeks for new drawings. "We see a project that looks complete before a shovel hits the ground," says MMA Associate Andrew Dorin. "Not only that, we can see a project 500 dif- ferent ways in a matter of minutes. It's incredible how quickly we're able to take a vision to a level of detail." Today, MMA says Madison Marquette's Montgomery Promenade is its marquee development, and likewise, Madison is using the architecture firm's capabilities in pioneering new ways. MMA says this type of virtual reality will be the new norm for what retailers, brokers and even cities will expect from development teams go- ing forward. Madison Marquette, which is active in the area as developer of the Richwood project in Harrison Township, has been planning Montgomery Promenade for several years at the intersection of Routes 206 and 518 near Princeton, New Jersey. The market-area population is 120,000, with an average family income of more than $150,000, median home values at about $339,000 and education levels that are among the highest in New Jersey. Madison Marquette says there is a strong Virtual Reality Brings Leasing To Life Madison Marquette's latest development allows tenants and township leaders to visit the property, and it hasn't even broken ground. Lynn Peisner Montgomery Promenade will bring 95,000 square feet of shopping and 30,000 square feet of dining space to Montgomery Township, New Jersey. Madison Marquette's architecture firm Massa Multimedia Architecture uses movies constructed from renderings and plans to demonstrate to planning, construction and neighborhood boards how projects will look and feel when complete.

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