The Story Behind Large Retail/Entertainment Complexes

BUENA PARK, CA—Large retail/entertainment centers are becoming more popular as our society enters into a more technologically driven future and retail landlords need to focus on providing entertainment and experiences, M+D Properties' EVP Luis Valenzuela tells GlobeSt.com. Retail tenants at the firm's 400,000-square-foot retail-and-entertainment center at the Source here will open during the first quarter of 2017. The Source is a 600,000-square-foot mixed-use complex in Buena Park featuring a retail and entertainment complex; a five-story, 60,000-square-foot, class-A office building—which has opened—and a four-star Hilton hotel with 174 rooms.

The Source Retail is anchored by CGV Cinemas, an industry leader in game-changing cinematic technology, which will open its first flagship Cultureplex in the US. M+D Properties has also signed more than 30 tenants including many first-to-market restaurants, entertainment concepts and beauty and apparel stores including OOAK Kitchen, a flagship restaurant by Shi Wei Tian; Samgeori Butchers Pork Charcuterie, a celebrity-frequented farm-to-grill restaurant opened by YG Republique; Olympus Screen Golf & Bar, Southern California's first virtual-screen golf venue; Copley, a boutique offering luxury brands such as Manolo Blahnik, Vera Wang, MCM and others; and HoneyMee, soft-serve ice cream drizzled with honey. Featuring a modern and dynamic design, the retail complex will offer the latest in digital media technology, in addition to special events and live entertainment to the public.

We spoke with Valenzuela about the rise of these types of centers and how they fit into Orange County's decidedly more suburban environment.

GlobeSt.com: Do you see large retail and entertainment complexes becoming more popular?

Valenzuela: Absolutely. As our society enters into a more technologically driven future where every type of consumer good can be delivered to our doorstep, retail landlords have to shift their centers from just shopping to providing entertainment and experiences. You'll see more and more retailers are adjusting their strategies to the market demands towards the direction of an entertainment/lifestyle focused complex.

GlobeSt.com: How is Orange County accepting “urban” development of this type?

Valenzuela: Orange County has been anticipating a destination like the Source for years. Orange County residents are extremely sophisticated and yet were being served by only typical shopping centers saturated by chain retailers and restaurants; thus, they have had to travel to Los Angeles to discover emerging brands and hip restaurants that were traditionally not available in the area. Orange County is more than ready for urban-style developments offering first-to-market experiences and entertainment.

GlobeSt.com: What other retail trends are you noticing in this market?

Valenzuela: Consumers are focusing on smaller, local and original brands that cannot be found in department stores. Original, high-quality brands and experiences are the driving force, and these retailers are also connecting directly with each of their niche with a creative and unique approach. Retail is not dead, just getting more creative.

GlobeSt.com: What else should our readers know about this complex?

Valenzuela: The Source is more than a place to experience the best entertainment, dining and specialty retail.  The Source is a place for discovery, whether it's the latest technology, or an interactive experience. It will be one of the premier entertainment complexes in Southern California. Tenants will have a tremendous branding opportunity since it's located on a major intersection, has freeway exposure and features more than a dozen LED signs throughout the project. It will be a place for continuous inspiration through these one-of-a-kind experiences 365 days a year.

BUENA PARK, CA—Large retail/entertainment centers are becoming more popular as our society enters into a more technologically driven future and retail landlords need to focus on providing entertainment and experiences, M+D Properties' EVP Luis Valenzuela tells GlobeSt.com. Retail tenants at the firm's 400,000-square-foot retail-and-entertainment center at the Source here will open during the first quarter of 2017. The Source is a 600,000-square-foot mixed-use complex in Buena Park featuring a retail and entertainment complex; a five-story, 60,000-square-foot, class-A office building—which has opened—and a four-star Hilton hotel with 174 rooms.

The Source Retail is anchored by CGV Cinemas, an industry leader in game-changing cinematic technology, which will open its first flagship Cultureplex in the US. M+D Properties has also signed more than 30 tenants including many first-to-market restaurants, entertainment concepts and beauty and apparel stores including OOAK Kitchen, a flagship restaurant by Shi Wei Tian; Samgeori Butchers Pork Charcuterie, a celebrity-frequented farm-to-grill restaurant opened by YG Republique; Olympus Screen Golf & Bar, Southern California's first virtual-screen golf venue; Copley, a boutique offering luxury brands such as Manolo Blahnik, Vera Wang, MCM and others; and HoneyMee, soft-serve ice cream drizzled with honey. Featuring a modern and dynamic design, the retail complex will offer the latest in digital media technology, in addition to special events and live entertainment to the public.

We spoke with Valenzuela about the rise of these types of centers and how they fit into Orange County's decidedly more suburban environment.

GlobeSt.com: Do you see large retail and entertainment complexes becoming more popular?

Valenzuela: Absolutely. As our society enters into a more technologically driven future where every type of consumer good can be delivered to our doorstep, retail landlords have to shift their centers from just shopping to providing entertainment and experiences. You'll see more and more retailers are adjusting their strategies to the market demands towards the direction of an entertainment/lifestyle focused complex.

GlobeSt.com: How is Orange County accepting “urban” development of this type?

Valenzuela: Orange County has been anticipating a destination like the Source for years. Orange County residents are extremely sophisticated and yet were being served by only typical shopping centers saturated by chain retailers and restaurants; thus, they have had to travel to Los Angeles to discover emerging brands and hip restaurants that were traditionally not available in the area. Orange County is more than ready for urban-style developments offering first-to-market experiences and entertainment.

GlobeSt.com: What other retail trends are you noticing in this market?

Valenzuela: Consumers are focusing on smaller, local and original brands that cannot be found in department stores. Original, high-quality brands and experiences are the driving force, and these retailers are also connecting directly with each of their niche with a creative and unique approach. Retail is not dead, just getting more creative.

GlobeSt.com: What else should our readers know about this complex?

Valenzuela: The Source is more than a place to experience the best entertainment, dining and specialty retail.  The Source is a place for discovery, whether it's the latest technology, or an interactive experience. It will be one of the premier entertainment complexes in Southern California. Tenants will have a tremendous branding opportunity since it's located on a major intersection, has freeway exposure and features more than a dozen LED signs throughout the project. It will be a place for continuous inspiration through these one-of-a-kind experiences 365 days a year.