Experience-driven retail and restaurants have been dominating retail leasing, but owners may be missing an important detail: time. As urban landscapes turn into 24-hour live, work, play environments; retail owners should consider tenants that can activate the shopping center from day to night. Gabe Kadosh, VP at Colliers International, has created an active center at West Hollywood Gateway, and recently brought the center to 100% occupancy by signing restaurant experience Saved by the Max and bar concept The Formosa.
“The center has always been high volume. The Target at one point was the top Target in the country. So, a lot of retailers have wanted to be in the center because of the strong sales and the tenants,” Kadosh tells GlobeSt.com. “In the last few years, we have seen a new wave where we have wanted to do things differently and be more forward thinking. There are a lot of new projects in the area, and we have to look at how we compete with new projects. You have to bring in concepts that are unique and different. One thing that we have also tried to do is look at the hours the center is activated. We want to create an experience that starts in the early daytime and goes through the evening.”