Real Estate Journal — Shopping Centers — March 28 - April 10, 2014 — 11A
www.marejournal.com
M ID A TLANTIC
R ETAIL E XPERTS The Artios Retail approach to a well-executed retail program Upfront understanding of the infrastructure requirements
F or commercial develop- ments of any size and character that contain a retail com¬ponent, a proper- ly planned and implemented retail program has the ability to set the tone, not just for that individual project, but for a neighborhood or entire re¬gion. A well-executed re- tail program can create a posi- tive environment of vitality for other businesses to flour- ish. Retail venues can become a center of the commu¬nity for social gathering and celebrat- ing if properly planned and merchandised. Choosing the optimal amount of space, cat- egories, and styles of retailers and restaurateurs servicing a development are key goals of planning and implementing a retail program. To do this correctly, thorough research is required. The Artios approach to cre- ating a retail program starts with an understanding of how
ment venues and attractions along with the impact of hotel clusters. Each of the demand drivers provides certain types of demand for food, retail, and services. The competing retail is considered in developing the retail plan as well, which may include creating a new niche of retail to complement the competing retail in the trade area, or absorb some of the retail demand of the competing retail areas by re- inventing and improving the retail offerings within the new development. Thoughtful consideration of the placement and amount of each merchandising category such as food, entertainment, comparison goods, and service uses within a development are planned to maximize the value of the retail for the develop¬ment. Pedestrian and vehicular traffic pat- terns play a key role in the placement and desirability of
retail space. The retail sales demand gap and analysis of the retail servicing this gap plays a key role to determine the amount of space that should be devoted to retail. Restaurants, in particular, are known for their high fail- ure rate, so this analysis can certainly provide the needed information to plan for a suc- cessful retail component of the development. Important to the planning effort for retail space is an upfront understanding of the infrastructure requirements that retail, and particularly food, entertain)ment and spe- cialty uses need to operate. This planning can lead to substantial cost sav¬ings, if included in the initial design of the project(s). This planning also expands the merchandis- ing choices for the project as well, which can help influence the rate at which a retail de- velopment is fully leased.
Shown from left: Richard Brigstocke, Jamie Lanham and Marty Lastner
time office worker diversity and strength, analysis of the visitor mar¬ket, impact of any university or other schools of higher learning, and the im- pact of very special entertain-
retailers and restaurateurs choose new locations. The analysis includes a thorough review of the demand drivers such as existing and future residential densities, day-
Commercial Real Estate
Consulting & Retail Strategy Services
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ARTIOS RETAIL CONSULTING SERVICES
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Artios provides consulting and retail strategy services and has worked for universities & colleges, cities, owner/developers, retailers and other stakeholders. Artios believes that a properly planned & implemented retail program can create a positive environment of vitality for other businesses to flourish and can be a catalyst for a community to grow upon.
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