The Shops at Columbus Circle Time Warner Center – Understanding the Complexities of a Landmark NYC Destination

Situation:

The Shops at Columbus Circle at Time Warner Center needed to understand the needs of their shopper – including database members, area residents, hotel guests, nearby workers and domestic and international visitors.

Analysis:

Alexander Babbage conducted extensive shopper and trade area and international (UK and Brazil) visitor research to determine who was coming to The Shops, why they were coming, their level of productivity and which tenants they visited.

Result:

Using the findings from our research, Related continues to polish the jewel of their portfolio, increasing focus on highly-productive shoppers and using the research data to inform leasing negotiations, media buys and tenant relations. Related conducts research annually to gauge the preferences, attitudes and behaviors of their diverse consumer base at The Shops.

Atlantic Station

Re-leasing and Re-positioning a Major Mixed-Use Landmark

Situation:

In 2011 North American Properties began the process of re-marketing, re-tenanting and re-positioning Atlantic Station to attract a new customer.  The property had been extensively marketed and was being dismissed by national retailers without consideration.

Analysis:

Alexander Babbage worked with NAP to identify key variables that could ignite interest in the property and get a tenant to look deeper at the property.

Result:

With an enhanced leasing deck and credible trade area story that can be tailored to each prospective tenant, the center is attracting new tenants and showing double-digit same-store sales growth.  This growth and success allowed North American to sell the property in 2015 to Hines.

Westside Provisions District – Quantifying the Unique Appeal

Situation:

Jamestown wanted to more deeply understand who was shopping and dining at Westside Provisions District – not only their demographic profile, but also their likes, dislikes and preferences.  In understanding who is on property – and why they are there – the Jamestown team can make quantified go-forward decisions on key leasing, marketing, operations and development initiatives.

Analysis:

The shopper intercept study conducted in May 2015 yielded a strong set of talking points enabling the leasing team to quantify the property’s strength as a preferred dining destination that is strongly augmented by a unique atmosphere and strong women’s apparel offerings.  The study also revealed an opportunity to add additional local brands at somewhat higher points to the current mix – but results also underscored the need for Westside Provisions District to focus on unique retail choices in a broad range of price points.

Result:

Leasing and marketing have core metrics for targeting retailers and shoppers.  Since the study, custom leasing presentations have been prepared to support an upcoming meeting with Sur la Table.

The Shops Buckhead Atlanta

Successfully Leasing the South’s New “Rodeo Drive” Located Less Than Two Miles From Fortress Simon Properties 

Situation:

As Oliver McMillan began the bell cow leasing phase of its premier The Shops Buckhead Atlanta mixed-use development, the leasing team looked to Alexander Babbage to provide compelling data to demonstrate the power of the surrounding market – especially as compared to locations where key retailers were already open and operating.

Analysis:

Using the proprietary SpendR™ segmentation system, Alexander Babbage ranked all U.S. freestanding and department store locations for Christian Dior based on a 20-minute and 30-minute drive time.  The SpendR tool provided household level segmentation based on actual spending ability and spending propensity.  This allowed Oliver McMillan’s leasing team to quantify the potential of their site based on an empirical at-a-glance ranking of all existing Dior locations.

Result:

Oliver McMillan announced the Dior deal in late 2014 and the 5,000-square-foot two-story boutique is slated to anchor a parcel now under construction along Peachtree Road and Boiling Way.

Ponce City Market

Leveraging Existing Data to Craft a Ponce City Market Leasing Story that Resonates with Retailers

Situation:

Jamestown believed Ponce City Market would be an ideal site for a fourth Anthropologie location in Atlanta. (Excluding the Avalon location.) Anthropologie executives were concerned the market surrounding Ponce City Market would not align with Anthropologie’s target demographic profile or psychographic profile. They also were concerned about cannibalization with the Westside location and with Lenox Square.

Analysis:

In March of 2014, Alexander Babbage conducted a Peer Comparison Study comparing Ponce’s market to that of Abbot Kinney in LA, Bucktown in Chicago, Walnut Street in Philadelphia, Knox Henderson in Dallas, Highland Village in Houston, Columbia Heights in DC and Lenox Square and Perimeter Mall in Atlanta.  The comparison was conducted on demographics, psychographics and spending ability. Results of the study demonstrated that the market surrounding Ponce City Market compared favorably to Knox Henderson, Highland Village, Lenox Square and Perimeter on all three measures.  It also alleviated concerns about cannibalization.

Result:

 The Jamestown leasing team used the data provided by Alexander Babbage to demonstrate the strength of Ponce City Market to Anthropologie which resulted in a positive deal.  As of June 2015, Anthropologie is now open at Ponce City Market.

Westchester’s Ridge Hill

Providing Clarity on the Consumer and their Spending Habits

Situation:

Westchester’s Ridge Hill shopping center in Yonkers, NY outside of New York City wanted to understand who was their shopper and how they competed for trade area shoppers relative to their competitors.

Analysis:

Alexander Babbage provided an analysis of the Westchester’s Ridge Hill area to define and segment the spending habits of the consumers.  Through analysis of the population, Alexander Babbage segmented high-potential consumers to target – those households with both the ability and propensity to spend.

Result:

The SpendR analysis of Westchester County residents provided Westchester’s Ridge Hill with an in-depth understanding of the consumer habits within a 7-mile radius and a 10-minute drive time of the center.  These results granted Westchester’s Ridge Hill the opportunity to focus on the most productive shoppers in their trade area

900 North Michigan Shops

Situation:

900 North Michigan Shops on Chicago’s Michigan Avenue needed to understand the needs of their shopper and how important the tourist market is to retail productivity.

Analysis:

Alexander Babbage conducted extensive shopper and trade area research to determine who was coming to the center, what their productivity was and which stores they frequented.

Result:

Using the findings from our research, 900 North Michigan Shops continues increase focus on highly-productive shoppers and use the research data to close deals with key bell cow tenants.

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