LAS VEGAS—As leasing managers seek more inventive methods to reduce vacancies and increase NOI, more properties are engaging non-traditional tenants and are thinking creatively about how they can make the best use of their property's space. So says Sharon Leoff, president of Shopworks Inc., based in Scottsdale, AZ. Leoff held a workshop course at ICSC RECon 2018 on who non-traditional tenants are, how to engage them, the best leasing structures, and innovative ways to make the best use of a retail center's space.
“In our changing world of malls, leasing representatives need to be thinking outside of the box,” she said. “Each type of center has a different priority, different space that can be utilized uniquely. And when you look at each type of center, each offer different opportunities and challenges.”
The good news, according to Leoff, is that the mall continues to be a central gathering place for the community. “About 75% of all Americans visit a mall at least once a month. Shopping malls have become the third most frequented location for Americans, after home and work.” She added that “shopping at the mall is a social experience and 81% of Americans shop with someone else.”
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