Adam Zendel is a dynamic contributor to Cadillac Fairview’s Strategic Insight group, where he develops strategy to create a competitive advantage and maximize the value of the company’s shopping centres and office complexes across the country. An active member of ULI since 2009, Adam joined ULI as a student volunteer while completing his Masters of Environmental Studies at York University, where he combined a specialization in Planning with a concentration in the planning and development of shopping centres.

Danny SC Tseng of Quadrangle Architects Limited and a member of the ULI-Toronto Communications Committee sat down with Adam to talk about his passion for real estate and retail and how he is implementing his strategic insights to Cadillac Fairview’s portfolio.

Danny Tseng: What are some of the highlights for you as a volunteer at ULI and how has this been beneficial to you?
Adam Zendel: I’ve been volunteering with ULI for 5 years now; I began helping out with the ULI events, at the registration table and immediately joined the Technical Assistance Panel (TAP) program.

This was the first TAP panel in Canada, where architects, planners, and developers were brought in to look at development opportunities in the Lawrence and Weston Road area. The panel came up with a number of recommendations on ways in which the community could attract developers. ULI Toronto was awarded a 75th Anniversary Urban Innovation Grant through the ULI Foundation and with this funding we were able to create a temporary street installation on John Street and a public realm report on ways to improve the streetscape at Lawrence and Weston.

My involvement both with the TAP and Urban Innovation Grant (John St.) was to put together the plan and the execution in creating a temporary streetscape improvement. We took over a number of parking spots along the street to create a seating area with planters, tables and chairs. It was a great ULI volunteer effort where a number of us helped to improve the streetscape in the community.

Currently, I’m involved with the Social Media (Facebook, Twitter, Linkedin) and the Community Outreach committee. If there’s one thing I would recommend to students, it is to go outside of your comfort zone and learn more about the industry by getting involved with industry associations. ULI presents a lot of opportunities for students to learn about really interesting projects and to meet industry professionals. My involvement with ULI has connected me with many people who share similar interests and has helped me develop a network of connections that will hopefully serve me well throughout my career.

DT: Cadillac Fairview (CF) is one of the largest commercial real estate corporations in North America. What is your current role at the company?
AZ: I’m part of a relatively new group at CF called Strategic Insight, where we develop and execute strategy to maximize the value of the assets in our portfolio. We develop our asset plans based on an in-depth analysis of the market and our property. We get to work with all of the groups at CF involved in the asset we are working on to understand how they approach the asset and we bring all of their approaches together to develop the strategy. The recommendations we make, when approved, became part of the guiding documents for the assets. Cadillac Fairview has been very receptive and supportive.

DT: Based on the patterns you’ve seen, what makes or breaks a retail centre?
AZ: Every retail centre is unique and I think it’s about understanding the demographics, the market, and how all of the forces come together. These factors include what consumers value, and their fashion preferences. The dynamics between a big city (where there are many centres competing for customers and retailers) is very different than an area with a smaller population where a single shopping centre serves the entire region. There’s no standard formula and that’s why groups like mine exist. You can’t take the same décor or design in one centre and use it in another. It’s all about tailoring the shopping centre and the shopping experience to the specific market.

DT: The strategic recommendations made by your team seem to play quite an influential role. What does it take to be successful at what you do?
AZ: A thorough understanding of shopping centres, retail, and real estate is important, but being analytical and open to looking at information objectively is the key.

DT: What makes an asset great?
AZ: To me a great asset is one that can evolve and change with the times. Flexibility and long term viability is important. The Toronto Eaton Centre, for example, is a great asset: it has stood the test of time and gets better and better every time we updated the centre. While it’s almost impossible to project what the future’s going to hold, I give credit to CF for having developed these phenomenal centres that are flexible and adaptable. We have centres I have worked on that we built in the ‘60s and ‘70s like Fairview Park in Kitchener, it was originally a small shopping centre, which we have adapted, expanded and reconfigured over the years to change with retailers and consumer’s preferences.

DT: Based on what you’ve seen first-hand, what’s the next emerging trend for retail?
AZ: Experiential retail: the things that you can’t do online. Apple Stores are a great example where consumers can come in and experience the products. It’s not about piling it high and hoping it will fly, it’s about creating a space where consumers can experience product and receive services. Another concept is a doll store called “American Girl,” where children can take the dolls they buy and interact with them at the store, like sip tea or have their and their dolls hair done. It’s not so much about selling a commodity, but more about having an interactive experience with the products or services. I think restaurants and services will also start to play a bigger role in shopping centres — you can’t eat or drink online nor can you receive many services like getting your hair cut or your shoes shined. Shopping centres are not only about purchasing goods, they offer a social experience, being around other people and interacting with them. This is something you can’t get online.

Danny Tseng
Quadrangle Architects
Communication Committee