LAS VEGAS—“The future is the careful curation of space. It can no longer just be about filling a box.”
So said Anne Mastin, EVP of retail real estate at Steiner + Associates. She tells GlobeSt.com that Steiner has always focused on finding the right retailer, restaurant or entertainment user for each space within our projects. “It's much more difficult and it takes tremendous creativity and patience.”
But when executed well, she says, the dividends are tremendous. “This also applies to redeveloping or refreshing existing projects,” she adds.
For example, she says that the firm is undergoing a significant refresh at one of its projects called Easton right now that includes the addition/relocation of more than 40 tenants in an already high-performing center. “These upgrades are critical to the long-term success and sustainability of even the best projects.”
As for trends she is seeing in the retail market, she says that food and entertainment have always been important components to Steiner projects. She also notes that at Easton, the firm's revenue from its restaurants exceeds $100 million annually.
“We see these uses continuing to grow in both their numbers and percentage of GLA in all projects,” she says. “We are also seeing many soft good retailers working very hard to get better at merchandising. Understanding that they have to compete with the convenience of online shopping they are putting significantly more emphasis on the in-store experience.”
Hear more from experts in the next few days as we fully cover the RECon event, with thoughts not only from attendees and panelists, but coverage of sessions, parties and more.
LAS VEGAS—“The future is the careful curation of space. It can no longer just be about filling a box.”
So said Anne Mastin, EVP of retail real estate at Steiner + Associates. She tells GlobeSt.com that Steiner has always focused on finding the right retailer, restaurant or entertainment user for each space within our projects. “It's much more difficult and it takes tremendous creativity and patience.”
But when executed well, she says, the dividends are tremendous. “This also applies to redeveloping or refreshing existing projects,” she adds.
For example, she says that the firm is undergoing a significant refresh at one of its projects called Easton right now that includes the addition/relocation of more than 40 tenants in an already high-performing center. “These upgrades are critical to the long-term success and sustainability of even the best projects.”
As for trends she is seeing in the retail market, she says that food and entertainment have always been important components to Steiner projects. She also notes that at Easton, the firm's revenue from its restaurants exceeds $100 million annually.
“We see these uses continuing to grow in both their numbers and percentage of GLA in all projects,” she says. “We are also seeing many soft good retailers working very hard to get better at merchandising. Understanding that they have to compete with the convenience of online shopping they are putting significantly more emphasis on the in-store experience.”
Hear more from experts in the next few days as we fully cover the RECon event, with thoughts not only from attendees and panelists, but coverage of sessions, parties and more.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
