Nearly all retailers and restaurateurs will tell you that the key to having a successful business is largely based on the old adage – location, location, location.
For several national entertainment and restaurant brands with Valley-wide locations, revenue figures indicate that the West Valley now ranks number one in market share, with their top-producing stores at Westgate Entertainment District in Glendale.
The bolstering of year-over-year revenue figures for nearly all of the big-name tenants at Westgate is largely attributed to the support of iStar Financial, who took ownership of Westgate Entertainment District in September of 2011. More than $300,000 in improvements and beautification have been made to Westgate’s common areas over the past year. Additionally, a strong focus has been placed on a better targeted and promoted events schedule, the hiring of Vestar to aggressively market and manage the property and the engagement with tenants to refocus their marketing and promotional efforts.
“By far, my most profitable store in Arizona is at Westgate,” said Rip Riva, owner of Johnny Rockets and JR Burger Grill, who has four other Valley locations of the popular all-American restaurant, including Scottsdale Fashion Square, Shops at Norterra, Arrowhead and Gateway Pavilion in Avondale. “I’ve been in the restaurant business for 40 years and have owned more than 30 different franchise restaurants. There’s now a synergy at Westgate that you can’t find anywhere else. With all of the events taking place, we’re seeing a constant increase in new customers. In the past few months, there is a new feeling, a new look and a new attitude. I’ve been at Westgate since the beginning and I just extended my lease another five years.”
Similarly, AMC Theatres at Westgate, which is the largest AMC in the state featuring 20 screens and an IMAX, is the top revenue producing AMC Theatres in Arizona. Yard House, with three Arizona locations, notes Westgate as its biggest revenue generating restaurant in the state. And, Saddle Ranch Chop House, with one location in Old Town Scottsdale and the other at Westgate, cites Glendale as its top-producing restaurant.
“The West Valley is a big market for us,” said Jeff Hall, owner of Which Wich at Westgate. “Westgate is our cornerstone location and our success there has allowed us to expand to other parts of the state including Tucson and two soon-to-open locations in the East Valley. We’ve seen about a 15 percent increase to our top-line revenue over last year. Between the concerts, on-site and nearby sporting events, movie theatre and very loyal office lunch crowd, there’s a formula there that just works.”
In September, Just Sports expanded their Westgate location, adding an additional 1,000 square feet to the existing 2,000 square feet, making it the company’s flagship location. Their Glendale location is their highest producing store among 18 stores on the West Coast.
Westgate Entertainment District encompasses more than 25 restaurants, retailers and entertainment venues including Yard House, The Shout! House, Jimmy Buffet’s Margaritaville, Kabuki Japanese Restaurant, Johnny Rockets, Which Wich and AMC Theatres. More than 250 events take place a year ranging from live music every Friday and Saturday night at Fountain Park to Bike Nights, Radio Disney Wednesdays, a holiday ice rink and fan experience events.
Westgate is anchored by Jobing.com Arena, home to the NHL’s Phoenix Coyotes, headlining concerts and major events, and is adjacent to the University of Phoenix Stadium, home to the NFL’s Arizona Cardinals.
For more information about Westgate Entertainment District and a retailer directory, visit www.westgatecitycenter.com.
