Providing a retail tenant mix for urban mixed-use new development

Demographic studies, aggressive leasing strategy and urban experience provide vibrant retail and entertainment tenant mix

Cypress Equities needed help leasing a new mixed-use development of a former industrial area: 279,000 square feet of retail,103,000 square feet of office and 550 residential units. They needed to encourage commuters and medical center/central business district employees to visit this epicenter of entertainment venues, museums, art galleries, restaurants and nightlife. Immediate retail interest and rapid occupancy at high rental rates was needed.

SRS provided demographic and void analysis data to determine retailers best suited for success in the trade area. SRS developed and implemented an aggressive leasing strategy and leveraged relationships with retailers to build momentum.

The center reached 80% occupancy in a relatively short period of time. West 7th is attracting a unique customer base of cultural district visitors, local residents, college students, central business district employees and medical center employees. The retail mix complements and is enhancing existing area retail and new urban residences and the development now represents a strategic blend of pedestrian-friendly urban components.

Services Provided

• Demographic and void analysis
• Aggressive leasing strategy
• Leveraged relationships with retailers to build momentum
• Urban retail expertise and knowledge

Results

• Center reached 80% occupancy in a relatively short period of time
• The center attracts a unique and widely varied customer base
• A pedestrian-friendly urban retail mix complements the area and new urban residences