SP MegaCity
Sao Paulo, Brazil
SP Market, a former Caterpillar
factory turned into an outlet center in the 1990’s and eventually into a
traditional mall, contacted Marketing Developments for evaluation of the
highest potential of the property. Research identified that the property has
extraordinary potential based on evolving Sao
Paulo market dynamics. Located on the main boulevard
of the city in a currently industrial area, the center now is the most
proximate major retail and entertainment destination for an over 600,000 A/B
population density that has emerged in a South section of the city. With
surrounding factories fleeing the city to avoid severe trucking impediment from
road construction, over 50 high rise towers have been already been permitted
for construction surrounding the center.
Following the research Marketing Developments agreed to formulate the strategy
and lead the design, use, merchandising and marketing planning. Predicated on the extraordinary potential of the project Marketing
Developments formed team of resources (architects, engineers, retail and
dining conceptors, traffic and lighting advisors) with the senior executive of
nine different firms participating in the planning.
Marketing Developments besides leading planning formulated the pro forma,
merchandising plan, alternative income strategy and has overseen marketing,
The project will be an approximately 1,000,000 square foot mall (the second
largest in Sao Paulo) with nine pedestrian connected office and residential
towers and a restaurant boulevard. The project will introduce new merchandising
concepts to the industry as well as new store and mall technology initiatives.
While the existing tenants will stay in operation throughout the renovation,
the entirety of the retail of the project will grand open for Christmas 2010.
The resulting plan included specialty retail, entertainment, river-view dining, offices, big box and residential development, all within ten minutes of downtown Pittsburgh and adjacent to demographically strong neighborhoods. Marketing Developments arranged a developer competition for the project as well as made contacts with ciality retailers, restaurants, entertainment providers and big box tenants to establish interest and lease rate potential.
The increased site utilization positively impacted the value of both the land and the development and resulted in a project mix as recommended by Marketing Developments that substantially increased the market appeal and reach.
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