South Market is a five-block mixed-use development in New Orleans’ Warehouse District.
TerreMark as the retail strategist, advised owners to create a new open air, downtown retail environment to maximize the real estate value by creating “street retail” and fulfilling a niche void of hip street fashion, food & beverage and services. The strategy is currently being executed.
- LOCATION: New Orleans, La.
- SCOPE: Retail Strategy, Repositioning, Economic Analysis and execution
- CLIENT: The Domain Companies
- PROJECT TEAM: Cooper Cary, Terremark Partners
PURPOSE: TerreMark conducted market studies and financial feasibility analysis to qualify the market and identify a retail niche for the project. TerreMark collaborated with architects, municipal stakeholders and owners Domain Companies and Goldman Sachs to plan and integrate it with surrounding districts. TerreMark was retained by the owners to execute its strategy.
- Changing demographics
- Hip street retail and entertainment
- Epicurean Focused
Phase 1 of the project is fully leased with Phase 2 of the project in final stages of development. Phase 3 is under construction. TerreMark secured over 75,000 square feet of leases in phase 1&2 including the John Besh Restaurant Group and several other chef-operated restaurants and specialty retail.