A UK investor, which held a mandate to acquire US based shopping complexes engaged Think Assets. Their objective was to add value to the acquired sites by reconfiguring “De-Malling” the internal layout to obtain more street frontage and smaller unit sizes to meet modern market requirements from retailers.
The Investor sough the advices of Think Assets to assist with creating a detailed repositioning strategy for the malls. The work we undertook included market research into demand from potential future tenants and the optimal spilt between food, entertainment and retail to allow the complex to maximise the time visitors spent at the facility.
During the course of our involvement we worked closely with the investor to help them understand the need to tailor the product mix correctly to the catchment market and to appreciate the future implications that click and collect services and general ecommerce would have. We also supported the investor to determine the correct pricing model based on a mix of standard rent and percentage of turnover options.
The result of our involvement was the client had a strategy which was clear and took account of the key drivers of profitability for shopping centers in the modern retail environment.