Crayola Experience boosts Texas center conversion
The story of the reinvention of a mall into a multi-use development got more colorful this week.
Crayola Experience announced it will place its fourth U.S. location in The Shops at Willow Bend in Plano, Texas, a Starwood mall that is adding a seven-story office tower, an expanded dining district, and the North Texas Performing Arts Center in a top-to-bottom transformation.
Equinox also announced this week that it will open a 35,000-sq.-ft. fitness center there.
Opening in spring 2018, the 60,000-sq.-ft. Crayola Experience will house a 5,000-sq.-ft. Crayola Store and allow visitors to name and wrap their own Crayon and learn how crayons are made in a live Factory Show.
The 200,000-sq.-ft. office building will accommodate some 800 employee and will be connected to the mall near the food and beverage area.
The mall lost anchors Saks and Lord & Taylor when parent company Hudson’s Bay decided to exit the Texas market. Starwood tore down the Saks building and replaced it with Crate & Barrel and Restoration Hardware.
Massachusetts mall 100% leased for first time in 30 years
Leasing agent Dan Waldman clearly hasn’t read all the news reports about the demise of the American mall.
In 2015, when Waldman took over leasing for the Walpole Mall in Walpole, Massachusetts, 80,000 of the property’s 400,000 sq. ft. lay vacant. This week, his Waldman & Associates announced that the mall was 100% leased for the first time in 30 years.
The tenant mix is comprised of 14 big box tenants such as Old Navy, PetSmart, and Barnes & Noble, 14 interior tenants that include GNC and Keystone Jewelry, and 13 pad tenants like Panera Bread, Five Guys, and Aspen Dental.
“We used the impressive demographics and high traffic volume as lures,” says Waldman, who also put into action the business maxim, “Give the customer what the customer wants.”
Waldman helped a local liquor store owner secure a scarce license to open a 17,500 foot store in the center, and kept the expanding Broderick Gymnastics in the fold with an added 11,000 sq. ft. in space obtained by digging down below the current location.
The Walpole turnaround was just business as usual, as far as Waldman’s concerned. “Turnover,” he said, “is the nature of the mall beast.”
Report: Discount Drug Mart to be anchor tenant at former Giant Eagle location
Discount Drug Mart will take over a long-vacant anchor space here at a former Giant Eagle location at The Shoppes of Oakwood Square, something that may give a big boost to the shopping center, reported Columbus Parent. DDM signed a 15-year lease to occupy about 30,000 sq.-ft. of space, the news outlet added.
“Our research has told us that we can find success there … and be of real service and value to the community. … We’re excited about the project. We think it’s a great spot for us,” Steve Ferris, government and public affairs director for the Medina, Ohio-based company, told the news source.
Once open, the store will represent DDM’s fourth in Stark County, Ohio. It is home to more than 52,000 residents.
Discount Drug Mart operates 73 locations, all of which have pharmacies. The retailer fills more than 5 million prescriptions per year.
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