Athens International Airport has its own IKEA superstore.
SPECIAL REPORT: LAND USE
preference to be at the centre of multiple trade areas. This location is typically the same place that airports are found. The available land at airports and ability of airports to offer ‘made-to-suit zoning’ and negotiate competitive site location offerings is very attractive for destination retailers such as Ikea. An added benefi t of being located on airport lands is the direct
proximity to the logistics network and supply chain that retailers rely on, allowing large volume retailers to have their logistics warehouse and primary retail outlet either together or in close proximity of one-other, thereby reducing transportation costs. At Athens International Airport in Greece, a 25,000 square metre Ikea store
is located in close proximity to the Main Terminal Building within an Airport Retail Park. This store has enjoyed strong sales since its opening. The destination Airport Retail Park has continued to see successful
performance, recording over 3.5 million visitors in 2009. Other components within the Park include Greek electronics giant Kotsovolos and do-it-yourself big box retail formats, as well as Factory Outlets, operating under the ‘shop-in-a-shop’ concept offering over 400 brands under one roof. The Airport Retail Park has acted as an anchor for the gateway’s ‘airport
city’ concept, facilitating the amenity for other airport development projects including the Airport Hotel and Metropolitan Expo Exhibition Centre. An emerging trend is the strategic placement of Factory Outlet Shops
on or adjacent to airport lands in order to benefi t from the regional population trade area capture, airport activity, tourists draw and highway locations that airport lands offer. The Direct Factory Outlets (DFO) in the Airport Village at Brisbane
The fi rst group involves ‘airport-related’ customers directly associated with the airport community including passengers, tourists, airport hotel/ conference guests and airport employees. The second group is oriented around the regional population base, which passes by airports on the highways and major road infrastructure at and around airports. Destination retail development benefi ts from vehicle traffi c, and access
from this road system serves not only airports, but also the surrounding metropolitan regions. In many cases, airport retail developments are on the daily commuting routes, facilitating strong sales capture rates for shopping, dining and entertainment spending. Grapevine Mills shopping centre, located just off airport lands north
of Dallas-Fort Worth International Airport (DFW), is able to take advantage of vehicles travelling to and from the terminal along the International Parkway. It features over 150,000 square metres of shopping and dining,
anchored by the adjacent Bass Pro Shops store (outdoor recreation, hunting and fi shing), which acts a destination hub attracting not only ‘airport-related’ customers, but also customers from around the Dallas-Fort Worth Metroplex trade area and beyond. As well, a primary hotel cluster (including the Great Wolf Lodge
Waterpark Resort Hotel and the 1,500 room Gaylord Convention Centre) has been built around Grapevine Mills to further establish this commercial development cluster as a regional destination for shopping, dining and entertainment, situated at the northern gateway to DFW. Opened in 1997 and managed by Simon Property Group,
Grapevine Mills takes advantage not only of the airport location, but also its access and visibility from the regional highway system that connects to DFW. Similarly, furniture giant IKEA is a major destination retailer, which typically places only one or two stores within a metropolitan trade area, with a
International Airport in Australia is an excellent example of this trend. DFO offers over 100 brands and provides shoppers with free airport shuttle service to and from the Terminal Building. To attract customers living within the Brisbane regional trade area,
DFO pays for return train ticket fare on Brisbane’s Airtrain rail transit line (which connects the airport with the urban area), allowing those without a vehicle to easily access this factory outlet shopping experience. At Portland International Airport in Oregon, USA, the Cascade Station
project has been very successful with the development of its 120-acre mixed-use development property with retail, offi ce and accommodation along Airport Way (the major route to the Airport Terminal Building). Anchored by IKEA, Best Buy Electronics Store and REI Sports, Cascade
Station has a strong mix of tenants and restaurants that have allowed it to maintain a vacancy rate below 5% over the past two years, even during the fi nancial crisis. Similar to the Brisbane DFO, Cascade Station is serviced by the MAX local
light-rail transit line, which runs between Portland’s urban core and the International Airport Terminal, with ridership of approximately 6,000 per week. In addition to the retail development at Cascade Station, there will also be 120,000 square meters of Offi ce Park uses and three hotels, including a new Starwood Aloft Hotel, which recently opened. Cascade Station went through a lengthy planning process, taking
close to eight years before construction began. This leading edge project was developed through a joint venture public/private partnership between the Cascade Development Company (Bechtel Corp, Trammell Crow and CenterCal) along with the Port of Portland, City of Portland and Portland Development Commission. Cascade Station fi nally opened near the start of the global economic crisis
but was able to succeed due to its strong mix of tenants, excellent access from the airport terminal, along with offering tax free shopping for nearby Washington State residents and airport travellers, since the State of Oregon does not charge sales tax.
AIRPORT WORLD/FEBRUARY-MARCH 2011 49
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