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"Entertainment is about everything in one place" – Adam Saks on the Cannon Beach effect
Manage episode 456338149 series 2813852
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On site at Revel Surf in Mesa Arizona earlier this month we spoke with COO Adam Saks – a creative hospitality veteran who brings a refreshing New York realness to his work. It was pre-opening and Maricopa County was running through its final inspection list (spoiler alert, they passed and are open as of today.) Adam walks us through the Cannon Beach journey, which many of us are familiar with, but really piqued our interest with his innovative take on how surf invigorates a space. Here, in the stripmall-landia of the greater Phoenix area, a wave pool radically distinguishes a destination which rolls over into higher retail occupancy and rates.
“Our rents in this 30 acres are a bit more than those across the street. It just is. And that's not a secret. Prospective tenants could go and call upon the real estate broker for the retail space across the street, and they can call our broker and they will get two different numbers. What we have found is that we're 100% leased. So people here are willing to pay a premium rent to open their business close to the water. Like I said, what Cannon Beach is going to be in a couple of years with everything that we're bringing to this corner and the fact that very little of that exists in Southeast Mesa. Entertainment is about everything in one place. That's what the world has become.”
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