In an article published in the November/December issue of Lexpert Magazine, Davies partner Anthony Arquin shares his experiences representing Ivanhoé Cambridge in its joint venture with Cirque du Soleil to build CREACTIVE – family entertainment centres in malls, starting with Vaughan Mills mall in Ontario.

Anthony describes the transaction as both unique and complex, in the sense that “both parties wore many hats – landlord, tenant, partner, licensor, operator – in a mix of real estate and artistic industries, which entailed a broad scope of business considerations.”

Looking to the future of retail, Anthony believes that shopping centres have key advantages that make them ideal for developing similar ventures: “prime location; massive excess lands with a high potential of mixed-use redevelopment; heavy foot traffic on an existing densified space; and multiple options to create community events.” That said, he points out that retail-tainment should not be seen as the absolute saviour of retail.

“Only the most innovative concepts will thrive and achieve the goal of rejuvenating the retail landscape,” he predicts. “This is why the venture between Ivanhoé and Cirque du Soleil is so exciting for real estate insiders: two behemoths in their respective industries are joining forces to create a brand new product, at the forefront of the retail-tainment trend.”