The shopping centre industry is driven by people. It’s the skills and expertise of the people that manage, develop and evolve shopping centres for their communities that creates this great industry. In this special ‘Movers & Shakers’ feature published in SCN magazine, we speak with nine industry leaders about their career journey and experiences, and discuss some of the key trends and major challenges facing our industry. Here, we profile Eddie Giraldo, Head of Leasing | Retail at Dexus.
Tell us about your current role and main responsibilities
I am the Head of Retail Leasing at Dexus responsible for managing the leasing function across Dexus’s retail assets. This includes leading our retail leasing strategy to drive commercial outcomes across shopping centres and city retail, including casual leasing and healthcare leasing.
What do you love most about your job?
People are the biggest driver for me, from my own team to the diverse retailers we work with across the wide variety of sectors and asset classes at Dexus. The relationships we build are integral to the success of my role, the success of Dexus and the success of our tenant customers.
Tell us about your current projects?
I am proud to be involved in two great Dexus development projects; 25 Martin Place, an iconic luxury fashion and dining destination in Sydney’s CBD and the $2.5 billion city shaping project Waterfront Brisbane.
Waterfront Brisbane will transform Eagle Street Pier into a premier riverfront retail precinct with expanded public space, including the widening of the riverwalk and a new destination dining experience at Naldham House – all in time for the Brisbane Olympics.
How did you get started in retail property?
My retail career started in 2004, working in finance for AMP Capital Investors. I then moved into leasing in 2007 and never looked back. I stayed with AMP Capital Investors until 2010 as a Junior Leasing Executive and then accepted a role with Vicinity. I spent three years at Vicinity as the Senior Leasing Executive and later as a Project Leasing Executive. In 2013, I moved to Dexus as the Head of Retail Leasing, where I have been since, building the retail leasing capability of my team into other sectors including healthcare.
25 Martin Place, Sydney
Do you have any career highlights, proudest moments, favourite projects?
During the past 20 years, I have been privileged to work on some outstanding assets and with some industry leading teams. Emporium Melbourne is a standout; working on that development in the heart of Melbourne CBD, at the time attracting cutting edge retail, and then watching that project come to life and its subsequent success has been a real highlight. More recently, the development of 25 Martin Place and the repositioning of Sydney’s King Street into an extension of a luxury destination starting with the introduction of Tiffany & Co at 175 Pitt Street, has been an incredible journey.
Being able to create places and precincts through a curated mix of retailers is humbling and when the vision comes to life and is embraced by the community – it is an extraordinary feeling.
What are some of the major challenges facing the industry?
It’s hard to ignore the rising costs of labour, interest rate rises, inflation and cost of goods as key challenges for our industry and our customers. The behavioural changes driven by COVID such as hybrid working, is a challenge we continue to work through. The challenge has also provided new opportunities to innovate and enhance how shoppers use and how we lease our retail spaces.
How can landlords and retailers work together better?
The success of our assets relies on the success of our customers. The more we can collaborate, listen and improve how we work together will drive improved outcomes. Understanding the pressures we all face leads to better understanding and hopefully improves how we can help each other for mutual success.
What do you think makes a successful shopping centre?
There are several elements that are key to creating a successful shopping centre. The right retail mix, a strong MTA, plus an aligned marketing and communications strategy, all linking to an engaged community. In essence, implementing localised and strategic activity that resonates with the community and trade area while maintaining a relevant and non-homogenised centre, ensures its authenticity and success.
Waterfront Brisbane
Which in your opinion is the best example of a good shopping centre, retail precinct or place?
Outside of the Dexus portfolio, Dubai Mall and Galleria Vittorio Emanuele II Milan are outstanding global examples of best-in-class shopping centres.
Your favourite retailer and why?
It has to be Mecca; it’s a wonderful story – created by a dynamic Australian woman and an amazing commercial success story.
What are some of the key trends you are seeing in the industry?
In such a fast-moving industry, delivering experiential retail is the way of the future, staying relevant while competing with the increasing accessibility and ease of online shopping. Omnichannel engagements is so important, engaging customers through multiple touchpoints and keeping shoppers and retailers engaged with their local centre as a brand and maintaining loyalty. We are seeing an increased focus and demand for sustainable and ethical business practices both from retailers and customers. These are shifting the retail landscape, and we believe are trends that are here to stay.
What are some of the tools that influence your decision-making?
Data driven research and analytics are at the heart of decision-making, ensuring insights into our customers, retailers and markets are driving informed decisions. Technological advancements within data collection, research and analytics lead to new improved ways of working. In saying that, I am a big believer of walking the floor and experiencing our spaces in person to understand and appreciate the intangible attributes of our assets.
What excites you about the future of our industry?
Retail is dynamic and never stays still. The constant evolution of our industry excites me most about the future of retail – it will never be stagnant and predicable, and it is always evolving. This at the core excites me most to see what comes next.
What advice would you give to someone starting in the industry?
Take the time to explore a number of areas within the industry, gaining a good perspective of the industry as a whole before you decide your path and settle in your chosen field. It will give you a better understanding of the overall picture and lead to your success and point of difference.
This Q&A profile of Eddie Giraldo forms part of SCN’s Movers & Shakers feature. Premium members can view the full series in the latest edition of SCN magazine.
