Shopping Centers Today International

JAN 2016

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

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C E N T E R S T A G E Don't mess with our mall roselands marks 50 years of not changing with the times By Michael Baker I n an InDustry sometImes prone to fixating on change, roselands shopping Centre has focused on con- tinuity — and continuity, it seems, is exactly what its customers prefer. roselands, one of 93 retail assets owned and managed by melbourne, australia–based Vicinity Centres, opened in 1965. It is a three- level regional shopping center with some 61,700 square meters (about 664,000 square feet) of gross leasable area. It is not what many would call a trophy asset, being very much an old-school, unpretentious suburban mall un- likely to win nomination for any architectural design awards. and yet the property has re- mained so comfortable in its original skin, as it were, that virtually no major repositioning has been necessary. the shopping center still hums along generating sales of about a$8,555 per square meter annually (€5,676). Glitzy this property is not, but if one is the sort who is inclined to argue with success, then this is the perfect place to come and do that. In an age of squeezed redevelopment cycles and a constant urge to reinvent, it is unusual to find a shopping center that works this well while still substantially conforming to a decades-old form and merchandising model. rather than progressing with slash-and- burn- type redevelopments, roselands' ownership has been content to merely fine-tune. Change has occurred, to be sure, but this has been nuanced and carefully designed to avoid alienating a loyal customer base. one big change occurred in the mid-1980s, when the three-level department store an- chor gave up its ground-floor space to Coles, a major supermarket chain. Despite the fact that roselands is a regional shopping center and therefore strongly repre- sented in the fashion and general-merchandise categories, food is the bedrock of its success. Food for consumption at home and food- service establishments collectively account for some 40 percent of its sales volume. this drives visits and keeps sales buoyant during eco- nomic downturns. another engine of success has been the mall's local retailers. In a world in which retail chains typically rule, independent retailers are vitally important at roselands. these shoppers want to know not only what they are buying, but also from whom. the roselands market is culturally di- verse, with nearly half the area's residents having been born overseas: Greeks, Italians, Vietnamese, Chinese and Lebanese all add flavor to the regional customer base. one thing they all seem to share in common is an affinity for the center's local orientation and sense of continuity. "there is a level of comfort and familiarity that it sits in the middle of suburbia and feels like a fine safe place to come home to," said marina ma- jeran, the shopping center's marketing man- ager. "People still love roselands as though nothing has changed." all of this notwithstanding, the ownership is hardly becoming complacent. there is a redevelopment plan in the works, as are also technology initiatives intended to ensure that rose- lands is up to speed with contemporary shopping habits. SCT +1 646 728 3800 Fax: +1 732 694 1730 Editor in Chief eDmunD manDer +1 646 728 3487 E D I T O R I A L Managing Editor Brannon BosWeLL +1 646 728 3488 Government Relations Editor stePHanIe LoCKWooD Copy Chief DaVID s. ortIZ Copy Editor KrIstIna eLDreDGe Art Director JoHn D. LeWIs Contributing Editors mICHaeL BaKer steVe BerGsman matt HuDGIns BetH mattson-teIG steVe m cLInDen BraDy nG anna roBaton sPenCer rumsey Jesse serWer Bennett VoyLes A D V E R China: una Gao + 86 10 5128 0868, ext. 1009 Europe: JuLIe FItZsImmIns +44 (0)20 3772 8996 Asia: Cat CHan +852 2540 6872 Production Manager DaVID staCKHouse +1 646 728 3482 I C S C O F F I C E R S Chair man stePHen D. LeBoVItZ President and CEO tHomas m cGee Vice Chairman eLIZaBetH I. HoLLanD Past Chairman roBert F. WeLanetZ, CrX, Csm Treasurer GLen HaLe Publisher PatrICIa norIns For article reprints, call (866) 879-9144 or contact S H O P P I N G C E N T E R S T O D A Y SCT (ISSN 0885-9841) is pub lished monthly. VOLUME 37, ISSUE 1 © 2016, International Coun cil of Shop ping Cen ters, 1221 Avenue of the Americas, New York, NY 10020-1099; phone, +1 (646) 728 3800; fax, +1 732 694 1730. All rights reserved. Periodicals postage paid at New York, N.Y., and ad di tion al mailing offces. Sub scrip- tions $70 per year; Canada and other foreign $99. Single- copy price $10 (May issue $20). For subscription informa- tion call +1 727 784 2000. POST MAS TER: Send address changes to Shopping Cen ters Today, Sawida Worley, 1221 Avenue of the Americas, New York, NY 10020-1099. Publications mail agreement No. 41482022, return unde- liverable Canadian addresses to PO Box 503, RPO West Beaver Creek, Richmond Hill ON L4B 4R6.

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