Tallahassee Mall is a two-level shopping center, built in 1972 and located in a growing, highly desirable middle market with a college population of 65,000. A 1993 expansion added Parisian as a fifth anchor to the mall, but did not achieve effective in-line occupancy due to strong regional competition and the lack of capital available for tenant improvements.
In June 1995, occupancy was 45% and sales were below $200 per s.f.
Montgomery Ward filed bankruptcy and vacated in 1999. Service Merchandise vacated in 2002.
Contact Retail for the complete case study.