The Secret Sauce, the first SlideShare in a series exploring the future of retail from North American Properties (NAP), argues that chef-driven restaurants are increasingly essential to the success of retail and mixed-use projects. North American Properties - Atlanta launched The Future of Retail series at the International Council of Shopping Centers (ICSC) RECon Convention in Las Vegas.
NAP is not just offering up theories. It is betting on the power of chef-driven restaurants. It has secured six of the Southeast’s hottest chefs for Avalon, a $600 million mixed-use development that will open in October in Alpharetta, Ga. Those restaurateurs include Ford Fry, Shaun Doty, Steve Palmer, Brian Lewis, Ciaran Duffy and Giovanni Di Palma. The Secret Sauce shares interesting statistics about the rise of the foodie and the decline of the chain restaurant, as well as insights about how industry leaders are adapting to the trends.
48. Chef-driven restaurants
provide immediate
personality and credibility
as a destination for shopping
and dining in lieu of other,
historical venues in the
market. They are a critical
element in establishing an
identity in the marketplace
for consumers.
Dick O’Connell
NewGate Retail Advisors
49. When North American
Properties began developing
Avalon in Alpharetta, Georgia,
managing partner Mark Toro
knew he needed the hottest
chef-driven restaurants.
50. It’s time for a paradigm shift
in how we think about retail
development. Call it Retail
3.0 or experiential retail.
Strip centers and malls are
out. Mixed-use, vertically
integrated communities
are in. Gen Y wants an
environment that is urban,
walkable and connected.
Gen Y wants a great
experience, and landing
local chef-driven restaurants
is an important component
to creating that experience.
Mark Toro
North American Properties
Managing Partner
62. I have an audience
of people in this
community who have
followed me. Moving
to a development like
this, where you have
a movie theater and
a Whole Foods, is
exciting to me. It’s
like a one-stop
in-town experience.
Shaun Doty
Bantam + Biddy
Co-Owner and Executive Chef
64. I’m a big believer in local
talent, local business
operators, local chefs who
run their own restaurants.
I told Mark [Toro] that I
would do it but that they
had to get the right people
out here… and the people
they got are just amazing.
Ford Fry
The El Felix
Chef and Owner
66. FORDFRY
JAMESBEARDAWARD
SEMIFINALIST
RESTAURANTOFTHEYEAR
-ESQUIREMAGAZINE
BEST PIZZA I’VE
EVER HAD. TRUE
NEAPOLITAN.
HUGH ACHESON,
TOP CHEF JUDGE
#4
ATLANTA’S MOST
ICONIC DISHES
FEEDING
REALPEOPLE
EALFOOD
Ford Fry
Giovanni Di Palma
!
Steve Palmer
Shaun Doty
Brian Lewis
Ciaran Duffy
The El Felix
Antico Pizza Napolitano
& Caffè Gio
The Oak Steakhouse
Bantam + Biddy
Bocado Burger Bar
Bantu
BESTPIZZAIN23U.S.
CITIES-ZAGAT
STEVEPALMER
JAMESBEARDAWARD
SEMIFINALIST
68. WHEN AVALON OPENS IT WILL BE THE SOUTHEAST’S
PREEMINENT EXPERIENTIAL DEVELOPMENT.
– NORTHFULTON.COM
SEVERAL IN-TOWN RESTAURANTS ARE MOVING
OUTSIDE THE PERIMETER FOR THE FIRST
TIME WITH AVALON.
– 11ALIVE
Avalon lands more retailers– Atlanta Business Chronicle
Bantu to open in
Alpharetta in October
– Atlanta Magazine
EMPIRE BUILDER
OF THE YEAR,
FORD FRY, REVEALS
DETAILS ON HIS
FIRST SUBURBAN
RESTAURANT
COMING THIS FALL
TO ALPHARETTA
SWANKY MIX-USE
DEVELOPMENT
AVALON.
72. It’s not only the smart
developers that want
chef-driven restaurants.
73. The biggest retail tenants
are demanding top
restaurants in their leases.
74. I had never seen the term “chef-driven
restaurants” in a lease until about two years
ago. Now I am seeing co-tenancy clauses
in upscale mixed-use communities in Ohio,
California and Georgia. In some cases,
retailers are going as far as naming the
top local restaurateurs in the lease.
Peter Hartman
Partner, Hartman Simons
Leading Commercial Real Estate Law Firm
75. The new-class consumer
expects great offerings like
walkability, five-star service,
a sense of community and…
80. Feel free to share it with your
friends or leave a comment, and let
us know what you think!
DIDYOUENJOYTHIS
PRESENTATION?
81. Flickr / “Banana Republic” by Prayitno
Flickr / “The Grove in Los Angeles, from above,”
by Eric E. Johnson
Shutterstock.com / Crowded Parking Lot
Flickr / “Ruby Tuesday” by Mike Mozart
Flickr / “Olive Garden” by Mike Mozart
Flickr / “Red Lobster” by Mike Mozart
Shutterstock.com / Seared Scallops
Flickr / “The Optimist” by Peter Bond
Shutterstock.com / pcruciatti (Image ID: 150368063)
Flickr / “Everywoman's, 1955" by alsis35 (now at ipernity)
BravoTV / Top Chef S11E1
Shutterstock.com / Chef of the Future
FOX / Gordon Ramsay, Kitchen Nightmares
Getty Images / Justin Bieber by Ethan Mille
Flickr / “Tom Brady” by Keith Allison
Getty Images / Liam Neeson by Larry Busacca
Shutterstock.com / Piggy Bank
Shutterstock.com / Coffee Shop Blurred Background
Angie Mosier
Avalon
CREDITS
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