Shopping Centers Today International

DEC 2015

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

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Page 29 of 143

The new urban prototype offers 22,000 square feet of ground-floor selling space, which is less than a fifth the size of the typical multilevel Lowe's store. The company concluded that the time was right, having discovered that Manhattan residents were already shop- ping its e-commerce site and also its stores in some of the other New York City boroughs. "We have identified an opportunity to better serve customers, both DIY and Pro, in dense urban mar- kets," said Lowe's spokeswoman Karen Cobb, referring to the chain's do-it- yourself and professional customers, re- spectively. The new store will give Man- hattan residents greater access to all of Lowe's offerings, she says, whether right off the store shelves or by pickup or delivery of online orders. The store incorporates Lowe's oWe's seeMs To be betting that a scaled-down version of the traditionally massive home- improvement format it recently introduced in New York City will meet the special needs of the urban dweller. The first of these stores opened in september, on broadway at West 68th street, in the borough of Manhattan. This was followed by a second, downtown, on sixth Avenue at West 19th street, in the Chelsea neighborhood. findings about the neighborhood's on- line shopping patterns. The merchandise assortment is curated especially for the apartment dweller — meaning more stor- age and organization products, remodel- oriented wares, and appliances built for smaller kitchens, while shovels, rakes and the like were understandably edited out of the mix, according to Joseph Jacobson, a partner at New York City–based Madi- son Capital, which owns the space. The prototype is quite a departure from the cavernous multilevel store en- vironment common to home-improve- ment chains, Jacobson says. "They were looking to build a consumer-friendly store in much fewer square feet than competitors have done," he said. The street-level store is housed inside a lu- minous building with wide aisles and 20-foot-high ceilings. The stores offer L small stores for big cities Slimmed-down lowe'S unitS prove to be a good fit for new York citY By Barbara Thau r e t a i L i n g t o d a y 30 S C t / d e c e m b e r 2 0 1 5

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