Shopping Center Business

MAY 2017

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

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EEE 2017 254 • SHOPPING CENTER BUSINESS • May 2017 the middle, and our industry does not know how to do that. We have to figure out where entertainment fits into that." When creating a connection with shop- pers, Pat Walsh, senior vice president of asset management and commercial leas- ing at Burroughs & Chapin Co., believes that a mix of unique retailers and restau- rants is key. "With Broadway at the Beach, we go out there and we find the most unique merchants that have an experiential as- pect to them," he said. "It may be a moon- shine or wine tasting experience, or mak- ing your own soap — it's the socialization and the experiential nature that we really go after. We don't have traditional retail- ers because the visitors that come in from their home cities are not looking for that; they're looking for a unique experience, and we're all about building memories." As always, the changing demands of millennials were at the helm of the discus- sion. "Millennials don't buy goods; mil- lennials buy experience," said Ken Nar- va, managing partner and co-founder of Street-Works Development, mastermind behind the massive District Detroit de- velopment. "A third of millennials don't drive a car and they don't buy a lot of specialty goods." In order to capture shoppers seeking experience, like millennials, Narva touts the creation of an intimate, downtown environment. "Having a longer term view on return is important when developing a project today," he said. "America makes everything way too big, and the most im- portant aspect of an experience is feeling intimate and immersed in a space. We've tried to get every retailer at District De- troit to take less square footage. Whether it's apparel, food or beverage; the best ur- ban environments are intimate." Currently at District Detroit, Street- Works is executing a total of 400,000 square feet of retail, 70 to 80 percent of which will be food and beverage. Paired with the experience-driven tenant mix, the company is focusing on creating a cozy and unique cityscape that incorpo- rates the history of the city. "Our firm gets its name, Street-Works Development, because we believe great cities are built from the street up, not the roof down," said Narva. "We narrow streets, increase sidewalks; we spend a lot of money on storefronts. Individuality is very important. We will celebrate Mo- Town in District Detroit, and we're look- ing at concepts which we call Restoriums: that is a restaurant, a store and a museum together." Brad Shelton, creative director of BRC Imagination Arts, believes that the emo- tional connection with a guest should be first in mind when developing a space. "When we're looking to tell a story at a property, the first thing we'll ask is 'why are you doing this and what is the change in the heart of your guests that you want to achieve'," he said. "Our perception is if you're not trying to do that, who cares. Shopping for concepts like it's a catalogue is the wrong way to think about it. You have to think about it by saying, 'what is the problem I'd like to solve? What is the change in the heart of the guest that I would like to achieve?'" BRC's recent projects include Heinek- en Experience — the top visitor attrac- tion in Amsterdam — the NASA Shuttle Launch Experience in Florida, The Henry Ford Museum in Detroit and the Abra- ham Lincoln Presidential Library and Museum in Illinois. FOODS HALLS, EXPERIENTIAL ANCHORS — DEVELOPING FOR THE FUTURE The first day continued with deeper looks into a variety of hot retail trends, from chef-driven restaurants and food halls to public spaces as a retail anchor. During a session on chef-driven concepts titled 'Stars Within Reach,' Phil Colicchio, founder and managing director of Colic- chio Consulting, provided the audience with a list of important considerations when choosing a chef-driven concept for your center. "You have to focus on the idea that to land these types of players [top chefs], you've got to be a little more flexible than the old fashioned, 'here's the lease, sign it,'" said Colicchio. "Your industry does not have embedded food and beverage operating teams like hotels do. You have to choose operators who can operate; you have to create guest experiences." "Thoughtful, intelligent curation is Wednesday, February 8, kicked off with breakfast roundtables, where colleagues and experts came together to discuss a range of topics related to entertainment and experience in shopping centers today.

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