Retail has moved beyond evolution in this
cycle. With destinations featuring a blend of
entertainment, experiences and services well
underway, they are fast becoming the new norm.
Annual Retail Review
BY NATALIE DOLCE
Just before the recession, in a community outside Milwaukee in Wauwatosa, WI, a multi-level luxury mall was planned that would complement offerings at nearby Mayfair Mall, the region’s dominant shopping center.
The project eventually evolved into a multi-phase development called the Mayfair
Collection, and, rather than demolishing the existing warehouses on the site, the developer decided to adaptively repurpose them into modern retail environments that
“embraced their industrial past.”
Phase I of the HSA Commercial project opened in spring 2014 and targeted off-price
concepts like Nordstrom Rack, Saks Fifth Avenue OFF 5TH and T.J. Maxx. As the off-price
sector continued to grow, newly launched brands like J. Crew Mercantile and Off/Aisle by
Kohl’s selected the location for some of their first stores in the country.
As the Mayfair Collection’s first phase filled up, Phase II broke ground in late 2014,
and, like the initial phase, it involved converting vacant industrial space—this time a
former Kohl’s distribution center—into retail. Phase II’s anchor, a 47,563-square-foot
Whole Foods Market, opened in February 2016—adding a “daily needs” traffic driver to
The project’s third phase, the Mayfair Collection Promenade included an additional
50,000 square feet of retail, reflecting the broader tenant mix as well as 250 luxury residential units, adding a built-in customer base to the project. The apartments, which are being
developed by Fiduciary Real Estate Development, will be the first of more than 1,000 residences slated for construction over the next five years, pending market demand.
A NEW WORLD
Welcome to the evolving world of retail—a world that is geared at changing the way people
engage in retail and is fast becoming retail’s new normal.