NEW YORK, NY (June 1, 2023) — Simone Development Companies is adapting to the e-commerce era by adding experiential and service-oriented tenants to its shopping centers. President Joseph Simone stated that as big-box retailers shrink their footprints or close locations, shopping center owners must identify experiences and personal services that can bring more foot traffic to retail destinations.
Across the country, health clubs, experiential retail and urgent care are on the rise at shopping centers. In New Rochelle, N.Y., LA Fitness recently opened a 36,000-square-foot gym in a strip shopping center owned by Simone Development Companies and G&S Investors. The health club is adjacent to a cluster of 30 beauty and personal service businesses housed within My Salon Suite of New Rochelle and destination retail like PXG Westchester.
According to data from the retail-analytics firm Creditntell, a retailer located in a shopping center with a health club receives about 2.5 percent more monthly visits compared with a similar retailer in a shopping center with no fitness tenant.
The presence of an LA Fitness as an anchor at another Simone Development property at 262 Boston Post Road in Port Chester, N.Y., helped to attract new businesses. Nothing Bundt Cakes, Nailed It Spa and European Wax Center recently opened at that revitalized location.
“We recognize the value that fitness businesses bring to shopping centers,” said Joanna Simone, Principal and President of Leasing and Property Management Operations at Simone Development Companies. “Some prospective tenants specifically seek shopping centers with health clubs because their services align with the healthy lifestyles promoted by the gyms.”
Simone Development Companies is a full-service real estate investment company specializing in the acquisition and development of healthcare, mixed-use, office, industrial, retail, and residential properties. With services spanning acquisition, development, construction, finance, asset management, accounting, leasing and property management, Simone Development Companies is set apart by its vertically integrated management team and its pursuit of visionary development.