California Centers

MAY 2018

California Centers Magazine serves retailers, developers, shopping center owners, investment sales brokers and tenant representation firms throughout the state of California.

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Page 24 of 58

20 California Centers Magazine | May 2018 C C led to a variety of new or repurposed anchors. A good, current example is the Irvine Company, which trans- formed a former Macy's box at Irvine Spectrum into a marketplace with 30 restaurants and specialty retailers." Westfield took a similar approach when it recently debuted an ethnic food hall known as Laneway Food Alley at its Santa Anita shopping cen- ter. "Laneway Food Alley meets our customer demands as they continu- ously value 'social food destinations' just as much as first-to-market dining experiences that can't be found any- where else," Ruddick says. "At Santa Anita, the collection of predominant- ly Asian street food concepts we've opened in one convenient location is a perfect fit for the diverse communi- ties we serve in the San Gabriel Val- ley, but also for foodies from across the region to explore." It seems ironic that emerging or lesser-known tenants occupying mere hundreds of square feet can re- place a behemoth like Macy's, but the force created by an artisanal army can be fierce. "Clusters of tenants can define the anchor," says Simon Perkowitz, prin- cipal at KTGY Architecture + Plan- ning's Retail Studio in Irvine. "Food halls exemplify this concept. Small- er-format retailers are now taking over the big footprints of previous anchors and these clusters are very popular at centers." Perkowitz and his team designed an entire 95,000-square-foot destina- tion in Lake Elsinore around the idea that a retail project didn't have to have a large, stand-out, name-brand tenant. Instead, Artisan Alley at the Diamond is pre-leasing to a variety of craft breweries, restaurants and tasting rooms, as well as complemen- tary non-traditional food offerings, sports-oriented vendors and special- ty shops. Movie theaters are another cate- gory that has stepped up its game recently. Many now offer upscale dining, drinking, socializing and movie-watching experiences that ex- tend well beyond the silver screen. AMC Theatres recently announced plans to open at Montclair Place, a 1.2-million-square-foot regional mall in the Inland Empire submarket of Montclair that is currently being transformed by CIM Group. The new AMC Dine-in Theatre will include 12 auditoriums, absorbing about 55,000 square feet of a new 134,000-square- foot, two-level building. This struc- ture will include 64,000 square feet of space envisioned for new restau- rant and entertainment concepts. The building replaces a former Broadway department store that has already been demolished. "AMC is an exceptional movie ex- hibition company that expands the entertainment options and enhances our visitor experience at Montclair Place," says Shaul Kuba, co-founder and principal of CIM Group in Los Angeles. "Securing the lease with AMC is a signature component of our repositioning program to recreate Montclair Place." OUT WITH THE OLD, IN WITH THE NEW As Brown mentioned, empty boxes left in the wake of department store closures and retail bankruptcies will continue in the short term. Many re- Westfield Santa Anita recently debuted an ethnic food hall known as Laneway Food Alley. Westfield Santa Anita serves residents of the San Gabriel Valley.

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