Palladio, one of Folsom’s premier shopping and dining desitnations announced today that since the COVID-19 pandemic, occupancy has increased by over 10%, and sales and leasing among national franchises have increased substantially, according to a press release announcing several incoming tenants.
As an outdoor mall, the Palladio is a social center where customers who value social interaction gather for shopping and dining and to be entertained by outdoor concerts, two movie theaters, SeaQuest, an indoor aquarium, and soon, Shake Shack, Box Lunch and Dave and Busters, an arcade, sports bar, and restaurant.
“The Palladio is recruiting the tenants that appeal to customers who value the social interaction shopping and dining in-person and making a day of gathering with friends for an outdoor concert and a movie,” said Gloria Wright, General Manager at Palladio. “This winning strategy has resulted in a surge in sales and increased occupancy rates, and a strong interest among national franchises such as Shake Shack to open their stores and restaurants at the Palladio.”
The Palladio has a strategic approach to recruiting tenants that appeals to a broad range of ages and interests, especially a younger segment of customers who value the social benefits of gathering and shopping in person. The International Association of Shopping Centers reported that Gen Z people aged 16-26 prefer in-person as much as online shopping. Other studies find that Gen Z prefer to shop in-store over online more than any other generation. Among the reasons for such an interest in in-person is the appeal of gathering, shopping, and dining with friends.
Several restaurants are prepared to open soon, including;
Shake Shack, a national franchise, markets the restaurant as “a modern-day roadside burger stand.” Opening planned for fall 2024.
Dave and Busters, an arcade, sports bar, and restaurant, is expected to open for business in spring of 2024.
Box Lunch, is a national retailer that provides pop culture-themed products offering apparel, accessories, home goods, gifts and novelty, and collectibles. Opening is Friday, Feb. 23, 2024.
Tru Bowl (Superfood Bar) is a national franchise “superfood café specializing in acai bowls, smoothies, fresh juice, salads and paninis.” Opening expected summer of 2024.
Pier 50 Sushi, a local franchise and part of Fukumi Restaurant Group, will open its second all-you-can-eat sushi buffet in the greater Sacramento area. Opening expected fall of 2024.