The dramatic changes e-commerce is having on every aspect of the retail world will affect everyone. For those that take the “glass half full” outlook on life, these changes are creating a tidal wave of opportunities that proactive property owners and adept real estate professionals will benefit from. As retail concepts evolve, there is enormous opportunity to reconfigure existing space to accommodate new concepts and retail formats that complement the changes e-commerce is creating.
Our team is capitalizing on these changes by securing multiple Big Box and Anchor space assignments throughout Greater Los Angeles. These assignments currently include 5 vacant Kohl’s department store buildings, 5 grocery stores, and a soon to be relocated home improvement center. Utilization solutions for vacant or underperforming anchor spaces are critical to every property owner. Our strategic approach that is having the greatest benefit for our clients includes repositioning and reconfiguring their anchor space. Creating options that appeal to a variety of familiar brands and promoting interesting new entertainment and food related concepts is proving tremendous results and creating thriving retail environments.
Crossroads Plaza in Pico Rivera, CA is one example of how our team is advising our clients to capitalize on the e-commerce change. What would have been a simple single tenant leasing assignment a decade ago, is now a more lucrative and exciting redevelopment that includes multiple smaller scale anchor tenants, quality inline retailers and restaurants to backfill the soon-to-be relocated home improvement center. What was once an average performing community shopping center will be transformed into a thriving retail, food and entertainment destination consisting of approximately ±239,000 SF of retail on 18.5 acres of land located at the primary intersection of Whittier Blvd and Rosemead Blvd.
The pace of life combined with the infinite products e-commerce has conveniently made accessible to all consumers requires that retailers and property owner’s alike fine-tune their offerings. There is a need to create an elevated retail environment and experience that captures consumers’ attention away from traditional and online retail. The opportunity to redesign, reposition and develop retail product to accommodate and attract new concepts is now!
Our optimistic vision for the future of retail, hyper-relevant market knowledge and dominant market share position in Southern California’s urban & Hispanic markets puts us at the forefront to develop and execute creative repositioning strategies for projects of all sizes.
For more information on our team, including our assignments and the Crossroads Plaza Redevelopment project, please visit us at: www.retail-foresight.com.
Crossroads Plaza Brochure: http://bit.ly/2yH5mcF