After acquiring an antiquated mall in 1997, the team took on a dramatic repositioning effort and converted the mall to an open-air power center – moving a 48,000 square foot Giant to a new, more appealing 70,000 square foot pad site and bringing in Office Depot, T.J. Maxx, and Ross Dress for Less as new retailers. The refreshed configuration of the space and cohesiveness of the tenant mix substantively upgraded the property aesthetic and financial returns.
378,000 square foot, grocery-anchored retail center
Partial demolition and redevelopment of site; relocation of grocery anchor; addition of three junior anchors and 10,000 square feet of retail
1997 – 2007
Giant, Office Depot, Ross Dress for Less, T.J. Maxx
Creatively reconfigured center layout (“de-malled”) to relocate primary anchor and attract three new junior anchors; increased occupancy and credit tenancy significantly between acquisition and sale