Salt Lake:Official development news thread

[RFPCME]

Originally Posted by arkhitektor

I don't know how to articulate this well, but it seems like retailers prefer locations like the Gateway or suburban strip malls because there is a single managenemt company that owns or controls the whole area. As a retailer you benefit from the stability that this brings and the whole development can be managed and marketed in the aggregate. The businesses in the area attract customers for each other. As a retailer opening a store, you know that there is already going to be a customer base and there is less risk involved. I think that this is one of the reasons that Gateway is so sucessful, becuase Boyer runs the show there and it is a safer bet for new entrants to the market.

It seems like there would be a market for a large management company to take control over say, all of the random retail spaces on Main street between 100 South and 200 South and manage them all like a little strip mall along the street.

Maybe this doesn't make any sense at all but to me it seems that there is so much vacant retail space and each owner or property manager is trying to lease one storefront at a time, but they are all still empty. If they somehow combined efforts to market themselves, they would be more attractive for new businesses, especially franchises and national chains who probably just look over Main street because it is so much easier to open at the Gateway instead.

Makes sense to me? Great concept, aggregate marketing and property management. You may have hit on something.