Investors and operators: It's time to stop thinking location and start creating destinations—to turn "somewhere to visit" into a magnetic must-go.
Prime real estate isn't enough. Take NYC's Tin Building in the Seaport: a historic fish market reborn as a 53K sq ft food hall by Jean-Georges. Great bones, stellar chefs, fresh seafood market. But no soul-stirring hook. No Willy Wonka whimsy to pull locals from their hoods or make tourists post nonstop. Instead: pricey eats, touristy vibes, zero interactive buzz. Result? It air went out of the build, now closing for the Balloon Museum—an immersive art pop-up that floods the space with airy wonder, and shareable spectacle that creates lines out the door. That's the multiplier at work: art that invites touch, play, and selfies: stop stroll i.e. stop scroll... in real life.
Why Destination > Location
Commerce alone flops: Curate for community, not just cash. Tin Building's retail (butcher, bakery) screamed transaction. Imagine instead: "Be a Baker Hour," "You Shuck 'Em, We Cook 'Em" oyster stations, or a mini Coney Island-ish eating contest with Seaport swagger—programming that funneled crowds from pier to upper lounges.
Pop down to Poppies in Camden programming in action—fish & chips joint slinging seaside toys, nets, and nautical kitsch. Pure joy-commerce hybrid. How epic would Jellycat have been as a Tin Building retailer? Kids win fishy plushies; parents enjoy Manhattans (non-alcoholic option also available). The Seaport could use that uniquely eclectic NYC quirk.
An experiential multiplier could have been the Tin Building's golden ticket—giving investors a growing number of reasons to cheer. But don't take our word for it.
Feel free to roll the dice on your asset. But remember now: no messing about, no touching, no tasting, no telling... you risk becoming yesterday's news.