Shopping Centers Today

DEC 2018

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

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Los Angeles; and 5 percent in Toronto. Often, the next step is to open a per- manent store in that same initial mar- ket. "Nearly 62 percent of permanent clicks-to-bricks stores have opened in the same city where they opened their first pop-up shop," the report says. The top cities for that first permanent loca- tion are New York (about 40 percent), Los Angeles (12 percent) and San Francisco (12 percent). The phenomenon has become so commonplace that when Internet retailers launch pop-up stores, the moves can trigger speculation about the possibility of a later rollout of per- manent locations, observers say. In October online retailer Wayfair, a seller of home products and services that posted some $5.7 billion in net reve- nues for the twelve months ended June 30, triggered precisely such talk with its announced plans to launch pop-ups almost right away at the Natick (Mass.) Mall and Westfield Garden State Plaza (Paramus, N.J.). "I'm curious to see exactly what they'll be showing off in their showrooms," Cook said. "My guess is that it will be middle and high- end goods, which tend to get the most play in physical settings." In Toronto, pop-up retail is on the rise among a wide range of retailers, including digitally native brands with the potential to open permanent stores, says Sal Iacono, executive vice president of operations at Toronto-based Cadillac Fairview. Toronto, the fourth most populous city in North America, has already seen store openings among the likes of Allbirds, Indochino and Warby Disciplined. Transparent. Consistent. www.VEREIT.com Owners & Managers of Net Lease Real Estate Prime Retail Space Available at High-Performing Locations Brett Sheets Senior Vice President, Leasing 602.778.6300 BSheets@VEREIT.com Sarah Nelson Vice President, Leasing 602.778.6111 SNelson@VEREIT.com Contact Our Experienced Leasing Team Nespresso

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