October 25, 2018
Another Wave of Tenants for Royal Poinciana Plaza
The Palm Beach setting aims to have visitors to spend more than an hour or two on the site.
The Royal Poinciana Plaza, Palm Beach’s lush open-air setting for upscale retail, galleries and restaurants, among other businesses, has rounded out its mix, with 10 tenants arriving through December.
“They all fit into what’s been our original mission: creating a place where people spend a lot of time and which provides things they need on a regular basis,” said Samantha Perry David, chief operating officer at the Massachusetts-based developer WS Development, which owns and manages the property. “It’s a hub of activities,” added David, who also leads the Up Markets division of WS.
“People come to the Royal Poinciana to eat, shop, for yoga classes, or to get your house completely designed. We’re a one-stop amazing depot for every part of life. That’s really our overall mantra.” She means the Royal Poinciana Plaza goes beyond just selling upscale merchandise.
From the fashion perspective, “We do sell extraordinarily high-end product, but we felt the same women buying the Birkin bag are wearing Lululemon to go to the gym.” Hermès is the largest tenant on the property.
Lululemon is among the familiar retailers moving in, as well as Alice + Olivia by Stacey Bendet; Destination Soul by Soul Cycle, the indoor cycling class with cardio and strength training, and Zadig & Voltaire, the Paris-based fashion brand founded by Thierry Gillier.
But most of the tenants coming in are small, or local brands, to make the plaza distinct. They include:
• 100% Capri, a boutique for luxury clothing and home products.
• Gavlak Gallery, which focuses on women and LGBTQ artists.
• Roller Rabbit, a bohemian, travel-inspired ready-to-wear and home lifestyle brand that celebrates artisanship and handcraft.
• Stoney Clover Lane, founded by Palm Beach natives and sisters Kendall and Libby Glazer, that specializes in customized bags, pouches and small accessories. The Palm Beach location will be the brand’s first store.
• The Grand Tour and Caroline Rafferty Interiors, featuring vintage and contemporary finds from around the world.
• The Yoga Society of Palm Beach, a yoga studio that will be partnering with Lululemon on classes.
“The new round of tenants is complimentary to what we have already,” said David. She said the Plaza is 100 percent leased and space for the 10 tenants, together occupying 16,000 square feet, was created by office space moving to a second level where other offices moved out, and certain tenants leaving. “A few people we were testing we decided weren’t a perfect fit. They weren’t intended to be there long-term,” said David.
Most tenants have signed five-to-10-year leases and three or four spaces become available next year. “We do like some amount of turnover, so there’s always newness and freshness,” said David.
The Royal Poinciana Plaza has 50 tenants. Two-thirds are local or small brands; one-third are national or international brands. Tenants include Assouline, Cynthia Rowley, Palm Beach Grill, Sant Ambroeus, Sotheby’s Realty, Saint Laurent, Nail Lab and Coyo Taco.
Built in the late Fifties and designed by John Volk, The Royal Poinciana Plaza has 180,000 square feet of retail space, gardens and a myriad of events such as music in the courtyard; wellness weekends for pilates, yoga and workouts; biking along the Lake Trail; backgammon; the “reveal” of unique holiday displays, and the “wee royal” series of art and science activities for kids. The setting was recently restored to its original midcentury style and features courtyards with outdoor furniture, palm trees and gardens.
She said The Royal Poinciana Plaza has a draw that extends south to Fort Lauderdale, north to Vero Beach and west to Wellington and West Palm Beach. Though much of the population of Palm Beach and other parts of Florida are snowbirds, according to David, “You have 12 months of business here. It’s not seasonal, but we get a real pop during the resort destination months, from October to May.”
By David Moin