We though you would like to read how obtaining a Fitness or Wellness tenant in your Shopping Center could boost traffic and sales.
Millennials’ enthusiasm for fitness, beauty and wellness concepts is proving to be a boom for neighborhood shopping centers, according to a new report.
The concept of “self-care”, a category encompassing activities connected to physical and mental welfare has become the new trend, affecting commercial real estate retail leasing in a big way.
Tenants such as Orangetheory Fitness offer membership packages that encourage multiple visits by clients, which in turn brings more traffic to the entire center.
Self-care tenants are offering memberships rather than pay-as-you-go terms to their customers, thus ensuring repeat business and repeat visits.
These tenants include Club Pilates, CorePower Yoga, CycleBar, Orangetheory Fitness, Pure Barre, Row House and Title Boxing Club.
A membership pricing structure is one of the driving factors that has led to the abundance of new-to-market concepts.
Guaranteed income from memberships help these groups confidently sign leases in retail leasing markets that can be affected by rising rents, operating costs, taxes and labor.