Landing one of the first Netflix House locations in the world is a feat. Where it’s landing is also an interesting story.
Galleria Dallas will be bring a never-before-seen experiential concept to a former department store space.since 2018, said earlier this week that trust is part of the equation in bringing the concept to the North Dallas mall.But the idea of bringing together more experiences, residences, dwellings and other commercial product types alongside one another is also a common thread.
Many conversion efforts simply seek to add a mix of uses — and therefore users — to sustain foot traffic and provide reasons to stay at a destination.Netflix’s vision could not be more different than racks of clothing, the only shoe horns you’ll see for months, and cosmetics counters. Guests could shift from waltzing on aNetflix House at the Dallas mall, owned by Metropolitan Life Insurance, is taking a sizable chunk of space.
“It’s a greater than 100,000-square-foot user that will be experiential, it will be food-based, it will be vibrant, it will rotate,” Kevin Kessinger, president and COO of Trademark, said during a panel discussion on the conversion space at the National Association of Real Estate Editors Annual Real Estate Journalism Conference on June 19.
“All of that drives traffic to the center, which allows you to elevate food and beverage concepts and entertainment. To bring all of that together is really pretty compelling,” Kessinger said.Kessinger said the key to potential conversions is cooperative retailers that see the value and benefits that come from adding other uses, in particular multifamily, because it brings shoppers directly to their front door. The same goes for owners of retail assets, as well.
Netflix House is expected to open at Galleria Dallas in 2025. The other planned location is slated in King of Prussia, Pa., outside of Philadelphia.French multinational group Schneider Electric opened a facility in Red Oak this week that will support the booming data center industry in Dallas-Fort Worth.Jones Day has renewed its lease at developer Harwood International’s Harwood No. 3 building and will eventually move its footprint to the all-new Harwood No. 15 tower., Real estate reporter.
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