Millennials are driving fitness, beauty and wellness concepts, many of which operate on membership models and drive regular shopper traffic.
Neighborhood strip centers are getting a big boost from the booming “self-care” sector, which focuses on wellness, health, fitness and beauty.
Globally, the self-care sector is a whopping $4.7 trillion business, reports the Global Wellness Institute. The term “self-care” is about people investing more in their health, says Sara Martin, vice president of retail brokerage at Welsh Cos./Colliers International | Minneapolis-St. Paul. That could be physically, mentally, spiritually or socially.
“Self-care has recently emerged in popular culture... and the idea has caught on like wildfire in social media and in the self-help categories,” according to a new report from Colliers International | Minneapolis-St. Paul....
RSK: It used to be a coffee shop and a sub shop...now just about every strip center has a yoga, gym or fitness store...I guess convenience is the major factor. For the landlord, I have to agree that a 10 yr lease will get a better build-out than a 5 yr one.
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- - Volume: 7 - WEEK: 7 Date: 2/12/2019 8:18:47 AM -