2026 LFRA Overseas Study Tour: Denver and Phoenix highlights
The 2026 LFRA Overseas Study Tour to Denver and Phoenix provided a contingent of 24 sector leaders with a valuable opportunity to explore how Large Format Retail is evolving in the United States, and what those changes may mean for the Australian market.
The program focused on leading Large Format Retail environments, with an emphasis on design, built form, retail concepts and emerging market trends. Across both cities, a clear theme emerged: experience, destination-making and integration with broader uses such as hospitality, wellness and entertainment are now central to driving visitation and spend.
Denver: Redefining the retail experience
The tour commenced in Denver Colorado, where an initial market briefing from CBRE set the scene. The group gained insight into a retail landscape that has moved well beyond the traditional Large Format model, embracing mixed-use environments, lifestyle centres and highly curated precincts that blend retail with leisure, dining and community.
These ideas came to life through a series of site visits. At REI’s Denver flagship, the group saw how brand, service and community can extend well beyond the transaction, while Bass Pro shops demonstrated the enduring strength of Large Format Retail when positioned as a destination experience.
As a fully immersive environment, Meow Wolf highlighted how experience itself can become the primary drawcard, encouraging dwell time, repeat visitation and deeper customer engagement.
Day two continued with a briefing from FTI Consulting, where discussion centred on the evolution of retail value propositions and the growing polarisation of the consumer. The concept of ‘K-shaped’ demand, with growth at both the premium and value ends of the market, is placing increasing pressure on the middle, a trend that is also emerging in Australia.
The Aussie contingent also explored how mixed-use precincts are becoming the dominant model. Projects such as Cherry Creek, Aspen Grove and Belmar demonstrated how retail now operates as one component within a broader ecosystem, integrated with residential, office, hospitality and civic uses.
The final day in Denver reinforced the strength of Large Format Retail fundamentals across a range of formats. From Tractor Supply Company’s highly targeted rural offering to the operational efficiency of Lowe’s and the scale of Walmart, the diversity of the sector was on full display.
At the same time, centres such as Orchard Town Center and Denver Premium Outlets highlighted how Large Format Retail can successfully integrate within more connected, walkable environments.
Phoenix: Growth, climate and destination retail
In Phoenix, the focus shifted to a high-growth market shaped by population expansion, tourism and climate. A CBRE briefing highlighted how these factors influence retail design, with shade, water, hospitality and night-time activation playing a critical role in creating comfortable and engaging environments.
Visits to Kierland Commons and Scottsdale Quarter demonstrated how lifestyle-led precincts can be tailored to local conditions, while Desert Ridge Marketplace showed how programming, events and entertainment can drive ongoing visitation.
At Paradise Valley, the group saw an example of a centre undergoing transformation into a mixed-use, community-focused destination, with wellness emerging as a key component. This was further reinforced through a preview of the Life Time fitness concept, a large-scale facility integrating health, leisure and social experiences.
The final day brought together many of the week’s themes. SanTan Village illustrated how lifestyle and Large Format Retail can work together within a single precinct, while Scheels redefined the role of the anchor tenant through immersive, entertainment-led retail.
Additional visits to Dick’s House of Sport, Andretti Indoor Karting and Topgolf highlighted how experience is becoming deeply embedded in retail formats, creating destinations that extend beyond traditional shopping.
Key takeaways for Australia
Across the tour, several consistent themes emerged: the rise of experience-led retail, the continued growth of mixed-use environments, the importance of hospitality and wellness, and the increasing role of technology in enhancing performance and customer engagement.
While many of these trends are already gaining momentum in Australia, the US market demonstrates how advanced and embedded they have become, offering valuable insights for future development and investment.
A big thank you to everyone who contributed to the smooth and successful running of the 2026 LFRA Overseas Study Tour, including all hosts and presenters for their time, access and generous sharing of insights, and to the study tour participants for their engagement and contribution throughout the program. Particular thanks goes to Phil Schoutrop of Buchan, Ben Shrimpton of FTI Consulting, the USA CBRE team, Philippa Kelly and Michelle Wong, Large Format Retail Association.
Further insights from the 2026 LFRA Overseas Study Tour will be shared in upcoming editions of Unwrap, with participants exploring key themes and learnings in more detail.
The conversation will also continue at the LFRA Gold Coast 2026 Forum on Thursday 28 May, where a dedicated panel will discuss the Overseas Study Tour and its implications for the Australian market.
*Photos courtesy of Phil Schoutrop, Principal and Precinct Sector Lead at Buchan
