The Strongest Retailers Understand This

Dutrisac: “Where larger big-box formats are not feasible, this flexible format is a great alternative.”

COSTA MESA, CA—The best retailers recognize that consumers are looking for an easy, convenient and personalized shopping experience and will continue to evolve in a way that allows them to reach more of their customers more often, Westar Associates ‘ COO Jud Dutrisac tells GlobeSt.com. The locally based real estate developer and property-management company is marking its 35 ^th anniversary with two new California developments and five new anchor tenants including Gelson’s, Smart & Final Extra! and a new, smaller-format Target in its current 2-million-square-foot retail portfolio. The two new developments include Hollister Village Plaza in Goleta and Sendero Marketplace in Rancho Mission Viejo. We spoke exclusively with Dutrisac about the trend of smaller-format big-box stores and other retail trends in Southern California. GlobeSt.com: What is sparking the trend of smaller-format stores that are traditionally known as big-box stores, such as Target? Dutrisac: Consumers are looking for an easy, convenient, and personalized shopping experience. The best retailers recognize this and will continue to evolve in a way that allows them to reach more of their customers more often. Where larger big-box formats are not feasible, this flexible format is a great alternative. In addition, successful retailers today have a much better understanding of what shoppers want in specific regions or neighborhoods, which leads to a more efficient operation that can be managed within a smaller footprint. GlobeSt.com: What other trends are you noticing in the retail arena in Southern California? Dutrisac: More and more retailers will be integrating mobile and digital technology into brick-and-mortar in order to enhance in-store experience. Through technology, stores can create a faster and more convenient shopping trip by providing services such as order-online/pick-up-in-store, faster check-out and efficient customer service. Additionally, new restaurants , entertainment and service concepts are continually evolving and improving. These businesses are changing the overall tenant mix and experience of shopping centers because they provide a destination for consumers to relax and spend quality time with friends and family. GlobeSt.com: Beyond restaurants, grocery stores and service businesses (gyms, dry-cleaners, medical, etc.), what else is on the horizon for retail? Dutrisac: Retail centers are evolving into lifestyle destinations that are customized to attract and entertain the residents in surrounding communities. It is important for us to adapt to the changing needs of the consumer by providing not only convenient access to the desired mix of stores and restaurants, but also a welcoming environment with inviting common areas that encourage interaction. At Sendero Marketplace, in Rancho Mission Viejo, for example, a community-trail system will allow local residents to conveniently walk from their neighborhoods into the center. We will also be using technology to connect with local consumers to help promote store awareness, increase foot traffic and drive sales. Customers will be able to visit the Sendero Marketplace website and social media platforms to access tenant specials, offers and event news. In our mixed-use Hollister Village project in Goleta, we recently completed construction on a pet-friendly apartment community that includes a dog park. We were able to provide an additional “amenity” by signing a lease with Petsmart in our adjacent retail center that will be a great convenience to our residents with pets. GlobeSt.com: What else should our readers know about your company and its recent  milestones? Dutrisac: Westar Associates has a lot to celebrate this year as we’re marking our 35th anniversary with two new developments and five new anchor tenants in our 2-million-square-foot retail portfolio, including three new Gelson’s grocery stores in Rancho Mirage, Ladera Ranch, and Rancho Mission Viejo; a Smart & Final Extra! grocery store in Goleta; and a new smaller-footprint Target in Long Beach. While the brick-and-mortar retail market continues to evolve, we remain bullish on well-located shopping centers that provide daily goods and services in an inviting atmosphere. Our retail portfolio is experiencing both increased occupancy and increasing rents in 2016.