350,000-SF Center Gets Turn-Around Plan

By Natalie Dolce

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Promenade Shops

CORONA, CA-Cypress Equities / SRS Real Estate Partners Managed Services has been designated as property manager for the Promenade Shops at Dos Lagos, a 350,000-square-foot retail lifestyle center located in Corona, CA. Managed Services, a suite of services specifically designed to maximize retail value, will develop and execute a turn-around plan that focuses on improving the customer shopping and entertainment experience.

The company plans to: create user-friendly public spaces; provide the community with a variety of everyday retailers, services, unique shops and restaurants to complement the current mix of national and regional fashion and entertainment chains in the center; introduce a new movie theatre operator with top movie selections and state-of-the-art upgrades; and expand on the new and aggressive community program of events including promotions, activities and everyday entertainment at the center.

Scott Harrington, managing principal for Cypress Equities, points out that new market demands are the reasons behind the changes. “Market realities have changed the face of retail development, which means you have to be flexible enough to listen to the new market demands and make the necessary changes in order to provide the customers what they need.”

He adds that “Building from our extensive experience in the retail, shopping center industry and working closing with the existing shops and restaurants, we believe Managed Services will help the Promenade Shops at Dos Lagos reach its full potential.”

Part of the turn-around plan includes the introduction of a new movie theatre operator and upgrades for the 15-screen theatre at Dos Lagos. The new operator is Phoenix Big Cinemas and the upgrades include Digital Projection, Digital 3D, Digital Surround Sound, expanded concessions and online ticketing. “Phoenix Big Cinemas brings a track record of high quality entertainment to the Promenade Shops at Dos Lagos,” adds Harrington. “The theatre upgrades and renovations will improve the overall cinema experience while offering the Corona community top Hollywood movie selections.”

Categories: West, Retail, Orange County