STERLING, VA–Indoor adventure park Zavazone has signed a 34,000-square foot lease at an industrial/flex warehouse site here for its second location, which is expected to open its doors on Nov. 4. Its first location opened last year in Rockville, MD, and now the locally-based startup is gearing up to expand further in the region as well as outside of it via a series of franchise arrangements it is currently negotiating.
Zavazone was co-founded by Josh Oboler and Joe Henry of Washington, DC, who own several Montessori schools in the area. “They understand children and parents — they speak their language,” says Transwestern Vice President Nathan Bortnick, who along with SVP Ethan Bernardi represented Zavazone in the transactions in both Sterling and Rockville.
Zavazone can be described as an experience retailer — that is, a retailer that is selling an experience as opposed to a good. Companies like this are becoming preferred tenants because of the foot traffic they can bring to a mall, if that is where they are located, and because they can't be disintermediated by the Internet. Experiences — as opposed to acquiring things — are also part of the changing consumer landscape.
Transwestern is seeing more experience retailers come to market for these reasons, Bortnick tells GlobeSt.com. “The retailer landscape is changing and there are new concepts, new thoughts and landlords are looking for the next great exciting thing.” As one example, he adds, local breweries and tasting rooms have become popular tenants.
At the same time, local zoning and city development authorities are also recognizing these trends, generally speaking, and are moving to accommodate them, Bortnick says.
“Montgomery County and Rockville are more flexible, helping landlords land companies that can be described as 'outside the box' tenants.”
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
