Reimagining Outdated Trophy Retail with Chad Cress

The Source of Commercial Real Estate

Enjoy this conversation with Chad Cress, Chief Creative Officer with DJM Capital. DJM owns and operates trophy retail and mixed use properties along the west coast, and Chad is responsible for aligning the tenants with the new vision and branding. Enjoy this conversation about experiential retail, reimagining shopping malls, and attracting the right tenants to your property.
Connect with Chad:
www.djmcapital.com
Takeaways

• Branding is more important than ever in the commercial real estate industry, as consumers are becoming more sophisticated and can easily identify authentic experiences.
• The role of a Chief Creative Officer in real estate private equity is to oversee the creative aspects of a property, including merchandising, leasing, marketing, and environmental design.
• Case study: Ovation Hollywood. The project involved reimagining a retail property in Hollywood to create a place that meets the expectations of visitors and reflects the history and culture of the area.
• Experiential retail is a growing trend that combines entertainment and dining experiences with retail spaces. Landlords need to be flexible and think holistically to attract the right tenants and create engaging environments.
• Lessons learned: Resiliency and flexibility are crucial in the real estate industry. Landlords and developers should be open to adapting their strategies and staying positive in the face of challenges.
• Successful branding examples: Lido Marina Village in Newport Beach, which was designed to create a charming seaside village atmosphere that attracts high-end tenants.
• Mistakes in experiential retail: Plugging a hole with any tenant is not the solution. Landlords need to take a holistic approach and consider design, placemaking, and branding to create authentic and engaging spaces.
• Accomplishments and lessons learned: The ability to navigate challenges and stay positive is a significant accomplishment in the real estate industry. Resilience and a flexible mindset are key to long-term success.
• Influential resources: Chad recommends staying informed about cultural trends and thinking creatively by exploring sources outside of the real estate industry, such as fashion, trend forecasting websites, and podcasts.
• Connect with Chad and DJM Capital: Visit the DJM Capital website to learn more about their portfolio and services in reimagining properties.

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