The Valley's real estate market, pre-recession, was largely predicated on the eternal existence of greenfields for development. And so strip mall after strip mall sprung up, each replicating the same model of grocery store anchor with pharmacy corner, and various chain restaurants and salons filling in the gaps in the plaza. With infill, things get a little more complicated.
Now, developers must look to the existing building stock and residential picture to find the right space between where the neighborhood is, and where it might be going, responding to a more dynamic market and physical infrastructure. Tenant selection becomes an art.
LFA For(u)m gathers in an in-progress adaptive reuse project in a transitional neighborhood to discuss how developers select the right tenants for the right projects, and build new anchors to their neighborhoods.
Ashley Harder, Harder Development
Mark Stratz, Cushman & Wakefield
Aric Bopp, City of Mesa
Sloane McFarland, Martha + Mary