After a long Covid-induced period when the public avoided large gatherings, owners of malls and retail lifestyle centers are increasingly focused on attracting tenants that provide opportunities for socialization. Pent-up demand for experiences involving gatherings of people is fueling renovations and redesigns of large retail developments, according to an ALM report.
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In some cases, this leads to conversion of stores selling goods to spaces for service-oriented tenants. Some owners have redeveloped former box stores for nontraditional tenants such as fitness brands, office spaces, and food and beverage amenities.
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Mall developers are seeking a consistent level of activity within shopping centers via a greater proportion of “social” tenants to attract enough foot traffic to support other businesses. From an overall design standpoint, inviting patios, accessibility, and visibility are top priorities.
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Developers are also finding that innovative small businesses can be sources of new trends that infuse retail centers with new vitality.
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