April 11, 2016
For retailers looking to test the Atlantic City waters, The Playground – a boardwalk-based shopping and entertainment destination owned by notable Philadelphia developer Bart Blatstein – is offering about a dozen short-term leases, Philly.com reports.
This unique "pop-up" business model gives retailers an opportunity to try out the shore market without a long-term commitment – with a hope that they’ll like it and sign on to stay.
Blatstein, CEO of Tower Investments Inc., also owns The Piazza at Schmidt’s located in Philadelphia’s Northern Liberties neighborhood.
His company acquired the hunk of boardwalk real estate space from Caesars Entertainment Inc. for $2.5 million in April 2015 and rebranded it as The Playground. It's since been in the process of a $50 million renovation, which includes a recently opened nightclub, The Wav.
Read more at Philly.com.