What to do with Vacant Retail Space – Play!
What to do with Vacant Retail Space – Play!
Adding a play area to the retail mix not only absorbs vacant retail space but also provides a ready-made clientele for both your existing retail tenants and new sponsors. From indoor shopping centers to outdoor lifestyle centers, family play areas can bring in sponsorship and retail revenue, foot traffic, and positive publicity.
Shopping center developers, operators, and realtors are constantly looking for ways to monetize vacant retail space, and adding an indoor play area is a perfect solution. Consider this.
1) You don’t need a perfect space for a play area. It can be an inline space, in an empty corridor, under a stairwell or outside in a sidewalk.
GGP’s Southwest Plaza in Littleton, CO moves into bright new woodland-themed inline space. Before and after photos.
Westfield Culver City in Culver City, CA replaces wall murals of kids with real kids and families in a neatly spaced, enclosed play area located at the base of an escalator. Before and after photos.
2) You can relocate play areas into vacant spaces. Existing play areas can be moved into empty spaces to draw in foot traffic to underutilized areas.
PREIT’s Springfield Town Center in Springfield, VA moves from and out-of-the-way space into central location, and acquires Inova Healthcare sponsorship contract and crowds as a result. Before and after photos.
3) Play areas deliver ROI. Return on investment comes via sponsorship dollars, adjacent store and concession revenues; you can even consider Birthday Zones and Drop-In Childcare Fees.
CBL’s Kirkwood Mall in Bismarck, ND converts underutilized concession area into vibrant destination with sponsorship funding from Sanford Health. Before and after photos.
Covington’s Capital Mall in Jefferson, MO moves into an inline space, which includes rentable ‘Birthday Zone’ for area families. Before and after photos.
4) Even high-end properties can benefit from filling vacant retail space with play. Top luxury shopping centers and premium outlets have developed creative solutions to challenging aesthetics with custom-designed indoor and outdoor play spaces.
CBL’s Cary Towne Center in Cary, NC works with local architect to design arts and culture custom-themed active play space. Before and after photos.