Life Time is making some serious headway in a shopping mall and retail center spaces.As the shopping mall sector continues to evolve, we’ve come to see proactive owners and landlords reimagine the definition of anchor spaces. In the past, a massive space occupied by a retail behemoth was viewed as the only solution. Fast forward to today, and massive spaces devoted to a single store are simply not necessary in most markets. That line of thinking has opened up some fascinating possibilities, and one lifestyle company is beginning to take advantage of the opportunity that it presents.
Life Time, a privately held company that focuses on distinctive resort-like destinations, is making some serious headway in the shopping mall and retail center spaces. The company operates 123 centers in 26 states and 35 major markets under the brands Life Time Fitness and Life Time Athletics, and a recently announced collaboration with retail real estate giant GGP will help expand its reach even further.
The two companies have announced that they are co-creating developments at four GGP properties, including at the Baybrook Mall in Southeast Houston, Texas, the Southwest Plaza in Littleton, Colorado, The Shops at Bravern in Bellevue, Washington, and at the Quail Springs Mall, in Oklahoma City, Oklahoma.
"We envision a transformative consumer retail experience that is highlighted by Life Time's unique ability to deliver comprehensive healthy living communities for all ages. Their distinctive vision encompasses healthy lifestyles, healthy aging, and healthy entertainment – from the way people shop, live, eat, work, socialize, exercise, and seek medical care. Ultimately, this partnership will bring exciting and truly unique diversification to our retail environments, along with a large, top-tier consumer demographic," said Sandeep Mathrani, GGP Chief Executive Officer.
The collaboration makes perfect sense, as it fits in with the prevailing narrative that’s encompassing the shopping mall sector as a whole. Destination-type spaces have been gaining a ton of traction, and an innovative fitness company such as Life Time should fit right into today’s mall environment.
"We are focused on developing all-inclusive, healthy living, healthy aging, healthy nutrition, and healthy entertainment destinations that encompass the full spectrum of daily life for thousands of individuals, couples, and families of all ages. We are excited to partner with GGP given their focus on creating great customer experiences, which is directly in line with our mission to create innovative, healthy lifestyle destinations and experiences,” added Life Time Chairman, CEO, and Founder, Bahram Akradi.
20 APRIL 2017, USA