Where are brick-and-mortar’s best retail experiences?
That’s what we want you to tell us.
Chain Store Age is now accepting nominations for its “Top 10 Retail Center Experiences” feature to be published in the July/August issue. We invite retailers to tell us about the centers that build meaningful traffic for them with compelling experiences, and we invite owner/operators to clue us in to unique customer draws they’ve installed in specific properties.
“Unique is the operative word here,” said CSA real estate editor Al Urbanski. “We want a list of centers doing things no other center in the country is doing. It could be something that runs throughout an entire center, or it could be one incredibly innovative feature.”
In last year’s list, for instance, No. 1 Mall of America was recognized for the entirety of experience, while No. 2 Brickell City Centre was singled out for its architecturally and ecologically unique Climate Ribbon roof.
You can make nominations for this year’s list here. Every retail property — from a necessity-based center to the retail portion of a master-planned community — will be considered. Final selections will be made by a panel of CSA editors.
We feel our Snow Heights Promenade should be Featured (www.snowheightspromenade.com). Michael Sapir, CEO, Sapir Real Estate Development.
Million-sq.-ft. project destined for rock quarry in Maine
Stone from an old quarry outside of Portland, Me., has doubtless found its way into many a mall parking lot. But soon retail will be springing up on the former site of the Pike Industries asphalt operation.
Waterstone Properties has affixed a name to the million-sq.-ft. mixed use project it will build at the quarry and announced its first retail tenant. Market Basket Supermarket plans to open shop at the Rock Row development sometime next summer.
“With Market Basket’s opening at Rock Row, we are one step closer to turning the site of the old quarry into a new gateway for the community,” said Josh Levy, co-founder and principal at Waterstone Properties.
The city council of Westbrook, wherein the property resides, granted Rock Row a tax increment financing agreement, which will provide a financing vehicle for the equivalent of $12 million in public infrastructure costs. Fifty percent of the tax generated at Rock Row over a 25-year period will go to the city in an effort to spur economic growth.
At full build-out, the 100-acre project will include 450,000-sq. ft. of retail space, including a brewery and a food hall, plus more than a million sq. ft. of commercial, residential, and hospitality. Also in the works is a 100,000-sq.-ft. medical and wellness campus.
“This project is transformative for the entire region,” said Lynn Tillotson, president of Visit Portland.
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PREIT adds Forever 21 at three malls
CEO Joe Coradino’s mission to raise the average sales per square foot at PREIT malls to $500 got a boost with the signing of Forever 21 locations at three more of its malls.
The company stated its re-merchandising initiative had advanced with the fast-fashion chain’s decision to open new locations at Magnolia Mall in Florence, S.C., Mall at Prince George’s in Hyattsville, Md. and Plymouth Meeting Mall in Plymouth Meeting, Pa.
Additionally, Forever 21 signed a deal to double its space at PREIT’s Capital City Mall in Harrisburg, Pa., to 14,000 sq. ft.
“We’re focused on differentiating tenancy with an array of concepts and the addition of Forever 21 at these three properties will…drive increased traffic and sales,” Coradino said.
PREIT announced last month that the rolling 12-month sales per sq. ft. average across its portfolio stood at $483.
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