Exploring the Evolution of Retail Centers: Anchoring with Sports and Athletic Facilities
The Evolution of Retail Centers: Anchoring Developments with Sports and Athletic Facilities
As online shopping continues to reshape the retail landscape, traditional department-store-led shopping malls have had to adapt to stay relevant. While food courts and movie theaters have managed to hold on, property managers and developers have taken note of the changing consumer preferences and have started expanding their offerings to include more food and beverage options, as well as entertainment-oriented merchants like escape rooms and axe throwing facilities.
The focus of many retail centers has shifted from what we wear, to what we eat, to what we do. And now, a new trend is emerging – anchoring shopping centers and mixed-use developments with sports and athletic facilities.
Some developments are being anchored by massive, big-league venues like NFL stadiums and NBA arenas, while others are designed to attract the youth and amateur sports crowd. Smaller-scale sports facilities, such as fitness centers, dance studios, and pickleball courts, are also being incorporated as anchors into existing developments.
Property developers and owners are leveraging the draw of these next-generation athletic facilities to get visitors to stay longer, spend more, and come back soon.
However, anchoring a development around sports and athletics presents its own set of challenges. Occupancy planning and tenant compatibility are two key areas that property owners need to focus on.
Unlike traditional developments with predictable operating hours, sports-anchored centers with extended operating hours require careful planning. Property owners must also be mindful of placing tenants with incompatible uses next to each other, as it can detract from the overall atmosphere established by the anchor tenant.
One successful example of integrating a sports facility with other compatible uses is ONE DAYTONA, a mixed-use destination across from Daytona International Speedway. NASCAR built ONE DAYTONA to capitalize on the crowds attending events at the speedway, and the development has been a success, increasing fan dwell times and promoting brand engagement.
Developing and managing sports-anchored centers also require careful consideration of traffic flow, parking optimization, and visitor experience. Positioning complementary uses next to each other can help optimize parking and improve the overall visitor experience.
Bluhawk, a 277-acre development in the greater Kansas City area, is a prime example of a development that combines a sports park with a lifestyle center, featuring shops, restaurants, multifamily living, healthcare, entertainment, and office space. The development is set to open this fall and is expected to attract thousands of youth and amateur athletes and their families each year.
Overall, by strategically integrating sports and athletic facilities into retail and mixed-use developments, property owners can attract more visitors and monetize their properties. With careful planning and a focus on creating a cohesive and engaging experience, these developments can offer visitors more reasons to visit beyond just shopping or dining.
