Malls Are Dying? Think Again!

Real estate-tech company, Neoware, opening 16,000 square feet coworking space

In an instance of pure serendipity, the team at the emerging tech company Neoware Inc. uncovered an untapped opportunity while discussing app development for The Oviedo Mall in Oviedo, Florida. With the help of mall manager Kevin Hipes, Neoware moved their entire operation into the once thriving retail center with the vision of bringing tech and real estate together to revitalize the brick-and-mortar experience.

Moving rapidly, the plan to bring tech-focused coworking into malls picked up tremendous traction, landing Neoware and their coworking space, Neoware Studios, on the front page of the Orlando Sentinel. At their previous location, Neoware had already built a community of partners with the coworking concept by allocating open office space to small companies, helping them grow through collaboration and mentorship. With clear interest and demand, it was not a difficult decision to relocate in order to fully execute the concept.

It didn’t take long for the team to realize that malls contained a variety of benefits that coworking spaces lacked. Small business owners, freelancers and startups craved perks such as free parking, numerous food options and entertainment, all housed at a single convenient location.

“We have started to realize that folks want access to a lot of amenities ... owners of quality shopping centers now understand that they have all the amenities people want under one roof,” said James Cook, JLL’s Indianapolis-based director of research.

Now, just under two months after they first stepped foot in the mall, the team has already executed a successful grand opening and has received more members daily. Furthermore, in conjunction with mall management, the development team at Neoware has also been in the process of designing and implementing the mall’s very own mobile application that aims to re-engage consumers and help small businesses lure consumers back to retail.

As recent successes have proven the concept true and strong, the company recently announced their plans to relocate in the mall to an old F.Y.E store, sitting at over 16,000 square feet – roughly three times the size as the space they occupy today. This space will house the first true flagship location for Neoware Studios. Caesar Medel, CEO of Neoware, has stated the new space will be completed prior to Q4 of 2019.

“We think we can turn some of these struggling malls into a thriving community hub. We are trying to get those people who are working from home back out there,” said Medel. “What better way to do it than to grow a positive, community-focused environment that will eventually become the new heartbeat of what many believe to be a ‘dying mall.’”

About Neoware Inc:

Neoware is a software development firm specializing in technology and services that redefine the retail environment. Neoware owns and operates Neoware Studios, a tech-focused coworking facility that serves as the adoption catalyst and pipeline for Neoware’s software development, as well as a community-driven solution for scaling small businesses.

Disenchanted consumers are fleeing traditional brick-and-mortar consumption for Amazon’s online convenience. Small businesses, old and new, are struggling to compete in today’s rapidly evolving landscape of technology. The disconnect between consumer and retailer has left commercial real estate owners scrambling to fill their vacated space and generate foot traffic. As empty space causes real estate value to drop, the surrounding community suffers.

Neoware solves these issues by developing technology that reconnects consumers and empowers retailers through experiential retail, building an immersive link between the digital and physical worlds. Neoware offers technology and services that add value to the commercial real estate owner’s property, boost neighboring retailers’ success, provide entrepreneurs valuable resources and amplify the surrounding community’s overall growth.

Contact: Zack Pierola, CCO

Phone:    (386) 793-5508


Source: Neoware Inc.

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