REAL ESTATE

Adventure park plans to quadruple its shopping center footprint

BY Al Urbanski

The key to success in the amusement business, according to Michael Stern, is to find ways to keep people coming back — specifically people aged 0 to 14.

The master broker for Urban Air Adventure Parks told a convention of retail real estate executives on Monday that the Dallas-based chain was poised to deliver on that promise and would be doubling its shopping center presence to 100 locations this year before doubling them again to 200 by the end of 2019.

“Trampoline parks were the Nineties; people want more,” said Stern, a principal of Edge Realty Partners at the International Council of Shopping Centers show in Orlando. “So we’re giving them indoor skydiving, obstacle courses, zip-lines, and Euro-style go-carts.”

UrbanAir, owned by the Perot Companies, is bringing an A-game with its management team, as well. It recently hired CEO Ken May away from TopGolf to serve in the same capacity at the adventure park chain.

Stern claimed that the “indoor parks” attract 10,000 to 15,000 visitors a month and that “landlords and retailers are both welcoming us with open arms.”

UrbanAir looks for mall and shopping center spaces ranging from 30,000 sq. ft. to 60,000 sq. ft., plus parking sufficient for 70 cars.

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