The historic Astor Block at the corner of Bourbon Street and Canal Street
Terremark was retained by Starwood Capital to create a strategy to upgrade street appeal and value enhancement. Starwoods desire to improve the streetfront and provide a better presence for the hotel quest was primary. Terremark devised a strategy by determining a niche that would achieve both objectives. Terremark was requested to execute its strategy.
The strategy included the replacement of a 20 year gift shop with True Religions first flag ship store in the U.S. MAC Cosmetics and additional speciality retail. Terremark was retained by Starwood Capital to develop a repositioning strategy. The request was to increase value and update the street image to enhance capitalization rates. Terremark outlined a strategy and was requested to execute the strategy.
- Increased street value
- increased capitalization rates for Starwood’s hospitality portfolio
CLIENT: Starwood Capital
PROJECT TEAM: Terremark Partners
LOCATION: New Orleans, La.
SCOPE: Retail Strategy, Repositioning, and Economic Analysis
- Changing demographics
- Street retail and entertainment