Creating a notable tenant mix in Northern New Jersey
Talk of the impending “retail apocalypse” and announcements of store closings continuously in the news may simply be a sign of the times, or an indication shopping center owners are missing the big picture when it comes to structuring their tenant mixes. ICSC’s Improving Tenant Mix report states the two key elements in a viable tenant mix are the anchor and in-line tenants. The strength of the anchor is the most defining characteristic of a successful shopping center, as it is responsible for driving the most foot traffic to the property. The in-line tenants must complement the anchor, while also adding a mix of shopping, dining, service, and entertainment options to the center that offer the customer a variety of experiences when they visit. An example of this plan in action is RD Management’s Waterview Marketplace located in Parsippany, New Jersey. Waterview Marketplace, which is currently under development to become a state-of-the-art mixed-use center, is anchored by a Whole Foods Market with other notable tenants such as Ulta, Orangetheory, Shake Shack, and B.GOOD.