Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
Issue link: https://sct.epubxp.com/i/58695
RET AILING TODA Y recognized the importance of explaining to landlords and tenants the advantages of temporary leasing. "When you talk to some of these owners, they are afraid they are not going to get the tenant out, or that once they put up a temporary tenant that there will be a stigma associated with the property," said Norsig. "What owners don't understand is that we have a list of creditworthy tenants that anybody would die to have in their property." The concept is gaining credibility, thanks to such companies as Procter & Gamble, Target and Toys 'R' Us, which have used pop-up stores to promote new products, boost seasonal sales and test markets. The 4,600-square-foot Openhouse Gallery not only provides the space for a company looking to hold a tempo- rary event, but also consulting services for crafting the theme and promoting the event. Among those PopUpInsider has referred over to Openhouse Gal- lery is Incase, which designs protective cases for mobile and computer devices. Openhouse Gallery played host to the Incase launch last year of a line of Andy Warhol–inspired cases for the iPhone, iPad and MacBook Pro. Companies interested in pop-up "What owners don't understand is that we have a list of creditworthy tenants that anybody would die to have in their property." stores or a space like Openhouse Gallery may not know where to seek, Spielberg says. Owners pay fees to list on the site. These fees vary by size of ad and length of listing, but typical rates for a photo listing are $123 for three months, $250 for six months or $499 for 12 months. Property owners create an account and upload photos and information related to the real estate, and they can see how many views a property has received. "Clients such as General Growth have really liked that feature," said Norsig. PopUpInsider has just three em- ployees for now, but its mission seems to be growing fast. PopUpInsider offers a separate service for clients unable to find what they want among the current listings, as well as consulting services for the managing, marketing and operating of pop-ups. "Initially, when approached by brands, we did a fair amount of feasibil- ity studies," said Norsig. "Now we are stepping into that zone to operate or to help set up the project." PopUpInsider is working with a casino to lease space and manage it too. PopUpInsider could expand its operations overseas, where pop-up retailing is catching on. The firm already has some in- quiries from Australia, Ireland, the U.K. and Israel. "I don't foresee a world full of pop-up shops," said Norsig. "It's not what [con- sumers] want — we always want to know where we're going to get our basics, our hairbrushes and our toothbrushes. At the same time, with such high retail vacancy, this is a solution for many properties and downtowns that are distressed." SCT 18 SCT / APRIL 2012