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RANCHO MISSION VIEJO, CA—Tenants at Sendero Marketplace, a new, 11.5-acre neighborhood retail center here being built by Westar Associates, will be able to benefit from various marketing opportunities the shopping center offers to help boost traffic, the firm's COO Jud Dutrisac tells GlobeSt.com exclusively. Rite-Aid will be the first of dozens of retailers, restaurants and service uses that will comprise the 98,000-square-foot center when it opens in 2016. GlobeSt.com spoke with Dutrisac about what the region can expect from the center, how it will help tenants and the climate of the Orange County retail market.
GlobeSt.com: What will Sendero Marketplace bring to the Southern Orange County market that it is currently lacking?
Dutrisac: As the only neighborhood shopping center in a 3-mile radius, Sendero Marketplace will bring much-needed goods and services including groceries, pharmacy, gas, banking, restaurants and other daily needs to the residents of Rancho Mission Viejo and the surrounding communities of San Juan Capistrano, Ladera Ranch, San Clemente and Coto de Caza. In addition, businesses in Sendero Marketplace can benefit from the various marketing opportunities provided by the center management company that will help them to further advertise and promote their businesses throughout the community. A mix of advertising, social media and community events will be used to help businesses increase traffic, promote store awareness and drive sales strategically.
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GlobeSt.com: How do development costs compare to replacement costs in today's Orange County retail market?
Dutrisac: There's not much difference between the two.
GlobeSt.com: What cutting-edge trends do you see involving retail development?
Dutrisac: As technology continues to evolve and improve, omni-channel retailing will follow in step because the lines will continue to be blurred between retailers' brick-and-mortar and Internet offerings. While this is leading retailers to shrink their footprint, it is ultimately resulting in a better experience for the shopper through lower prices and more selection. Aesthetically pleasing architecture and landscaping with multiple outdoor gathering places will continue to be important elements of retail development as consumers increasingly look to retail centers as a place to meet and interact.
GlobeSt.com: With so much emphasis on lifestyle- and experience-oriented retail, what new things can consumers expect to find at stores in the future?
Dutrisac: While phones, tablets and computers are effectively increasing the number of outlets in which to purchase retail goods, you still can't get your nails done, try clothes on in a dressing room or eat dinner on the Internet. Shopping centers, more than ever, remain as places to gather, dine and shop for convenience-oriented goods and services.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
