Retail Landlords Creating Community Spaces for Power Centers
Free meeting spaces encourage tenants, shoppers and neighbors to see the local shopping center as part of the neighborhood.
CHICAGO—Developers and landlords in the retail sector are all striving to make their properties go-to destinations rather than mere places to shop. NewMark Merrill Cos., a Woodland Hills, CA-based developer, has hit upon a strategy for one of its Chicago-area properties that may provide helpful lessons for owners in any region. A few months ago, the company opened Rspace, a community gathering space, at Winston Plaza, a 404,471-square-foot power center located on the corner of North Ave. and 9th Ave. in suburban Melrose Park.
Author: Brian J. Rogal