Shopping Centers Today International

NOV 2015

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

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20 S C T / N o v e m b e r 2 0 1 5 The merchandise now includes back- packs, water bottles, desk accessories and much more beyond the initial wares and is available at Nordstrom and Bloomingdale's. Peace Love World has an international presence too — besides the seven stores in Florida, the com- pany has a store in Cannes, France, and one in Hong Kong. The most recent opening occurred this past spring in Beirut, Lebanon. And the company wants to keep expanding. The retailer's typical customers are "a 40-plus-year-old woman and her daughter," Villasante says. And the stores, measuring roughly 1,500 square feet, are softly lit and have calming, neu- trally colored walls, cushy couches and upbeat music — all of it intended to en- courage shoppers to linger. "We want people in our stores to feel happy." Villasante's touch is felt all over the operation — on everything from fabrics to locations. "I'm very creative, but I also tend to micromanage." The com- pany employs no real estate director, so real estate inquiries go directly to Villas- ante. The locations she favors tend to be high-end, busy retail areas. "I'm looking for the best locations in the best malls around the country," she said. Adjacen- cies matter too, of course. "We like to be near locations with common values," Villasante said. That can mean wellness- centered brands like Lululemon and Jugofresh, she says, and most important, "[developers] must have the same passion as I do for the brand." The Cannes store is a case in point. "The [developers] kept calling my of- fice," Villasante recalled. "They owned 200 Subway franchises. I thought, 'How am I going to do business with people who own Subways?' But they were very business-savvy, and they were obsessed with the brand." In the end the 170-square-meter (roughly 1,830 square feet) boutique opened on the Rue d'Antibes, in the heart of the shopping district, right before the start of the Cannes Film Festival. And it is flourishing, says Villasante. Back in the U.S. Peace Love World is looking to open in New York City and also in Arizona, California and Texas — places where it enjoys the larg- est concentration of online followers. Villasante says she has no timeline in mind for expansion. "A lot of times, before we commit to a location, we try a pop-up store to see what the demo- graphic of the community is," Villasante said. "If the pop-up works, we are more willing to make that long-term commit- ment. Pop-ups are a good way to start to get to know our customers." S C T Developer Funding/ Take-Out Program: National Retail Properties (NYSE: NNN) is looking to fund/take-out deals with the following criteria: • Single-tenant net-leased retail properties nationwide • 100% loan-to-cost fnancing with take-out upon completion • National or regional tenants in place • Single project or multi-deal funding • $1 million to $100 million deal size CONTACTS: David Reif Senior Vice President of Leasing & Construction (407) 650-1156 david.reif@nnnreit.com Brian Cooper Director of Leasing (407) 650-1206 brian.cooper@nnnreit.com (800) NNN-REIT www.nnnreit.com Visit our web site at www.nnnreit.com DEVELOPER FUNDING/TAKE-OUT r e T a i l i n g T o d a y

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