Situation
Originally opened in 1971, this one level, three-anchor enclosed regional center had become physically dated and suffered from increased competition from 11 regional and lifestyle centers in the immediate 10-mile radius.
Despite declining market share, trendy stores on the outer pads, such as Trader Joe’s and The Wine Exchange, generated average sales of $1,800 to $2,100 per s.f., indicating higher income households were shopping the exterior of the center.
In 2002, new owners decided to again make the center a retail leader in the area.
Contact Retail for the complete case study.