Shopping Center Business

MAY 2018

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

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RETAIL REVIEW 62 • SHOPPING CENTER BUSINESS • May 2018 tor from other fitness concepts is that we always workout together," says Bowtell. "We take the camaraderie and teamwork that Tough Mudder is synonymous with as an event company, and bring it into the indoor training space. At any given time, you're working with a partner or a team at a station or the whole class. You may not know anyone walking in, but by the end of the class, you will be giving each other high fives and building connections in that way. On the event side, we found that those connections are really what so- lidified the experience." As the concept expands, the company is looking for more suburban locations in centers that are bringing people in mul- tiple times per week, like a grocery-an- chored development. "We're not imme- diately looking to go into the major urban cores," says Douglas Jerum, principal at Ferrara Jerum International and Tough Mudder Bootcamp's real estate partner. "The core of the concept will be in the suburban trade areas across the country. Initially, we will trend more towards the top 25 or 50 MSA's in the country, but we expect the concept to resonate with cus- tomers in a broad base of demographics and lots of different types of trade areas — there is lots of room for expansion." "The future is very bright for Tough Mudder Bootcamp," says Bowtell. "We are planning, and are very much on track to sell 100 units this first year, which will be pretty record breaking. Based on the in- terest that we have received so far, I think we will absolutely be able to hit that and we will keep that strong growth curve up in the years to come. We feel like our 3 million customers are asking about the concept now, and we're looking to move quickly. Boutique fitness is a category that is on fire currently, so we really want to take advantage of the strong interest in this category and go all cylinders firing." SCB Each class offers stations where participants work together. "You may not know anyone walking in, but by the end of the class, you will be giving each other high fives and building connections in that way," says Bowtell, senior vice president of Tough Mudder Bootcamp. A boutique investment banking firm focusing on institutional financing structures for commercial real estate investors. Sale-Leaseback Financing | Debt & Equity | Investment Sales Structured Financing | Recapitalizaঞon & Restructuring CALKAIN INTRODUCES NET CAPITAL MARKETS GROUP

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