Flagship Acquisition in Top Retail Developments for International Trampoline Park
Client Represented: An International Trampoline Park and Entertainment Complex
Location: EmQuartier, Bangkok, Thailand
Topline: Flagship Acquisition in Top Retail Developments in Bangkok
In 2014, CBRE was appointed as a retail consultant and an exclusive representative for a top international trampoline park brand in opening its branches including its first flagship in Thailand. CBRE did the site finding analysis and advised the brand on commercial terms and conditions as well as lease and service agreements. The first branch was opened in The Street Ratchada with about 6,000 sq.m. which was the biggest trampoline park in the world at that time. After 5 months of the opening of the first branch, the second branch was opened in EmQuartier where CBRE has negotiated with the landlord to make them agree to lease the project’s event area to the client.
The client required a site which had to be large enough with about 3,000 – 5,000 sq.m. and ceiling height of over 8 meters. The shortlisted projects must be successful and have been operating for quite a while. It was very difficult to find a vacant space of more than 1,000 sq.m. in successful projects. The overall occupancy rate of retail space at that time was around 96% and 100% for prime projects where there was a long waiting list. CBRE surveyed conventional retail space in each and every building but could not find any availability.
We expanded our search into event areas and exhibition halls in retail projects. CBRE started offering the new concept of having a big entertainment place in the mall in order to draw bigger crowds of clients.
The landlord was interested and agreed to explore partnership and collaborate with the client and its concept.