Although the retail market in Los Angeles is stable, with a vacancy that hovers around 5%, some landlords are having trouble leasing spaces as ecommerce continues to eat into brick-and-mortar retail sales. One solution: pop-ups. A consistent stream of pop-up retailers, which sign short-term leases for anything from a day to a few months or even a year, can help occupy vacant retail spaces and drive traffic to a retail center. We sat down with CBRE VP Zachary Card, who has experience signing pop-up retailers, for an exclusive interview to find out why and when these are a good fit, how to structure a short-term lease and where the pop-up trend is heading.
GlobeSt.com: When are pop-ups a good fit for a shopping center or a retail landlord?
Zachary Card: Pop-ups are a great way to bring life to a challenged space that otherwise may stay un-occupied. Using pop-ups can draw in people while also serving as an incubator space for new concepts as well as for a national, regional or emerging online retailer that may not otherwise commit to a long-term lease without some proof of sales.
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