Anchored by J.C. Penney, Carson Pirie Scott, Sears and Steve & Barry's, the center also includes 140 retailers including Old Navy, The Gap, Baby Gap, Gap Kids, Victoria¹s Secret, and an 11-unit food court. Although occupancy stands at 95%, the tenant roster could use some tweaking, says Tom Castagnoli, general manager at the property since 1997. "There's probably 7% to 8% of the mix that isn't on long-term leases," Castagnoli tells GlobeSt.com, adding the center may have two many specialty stores in the cell phone, jewelry and gym shoe arenas.
A former executive vice president with Pennsylvania Real Estate Investment Trust, Pat Berns also will analyze whether the center needs additional upgrades. While Feil Organization has appointed Rob Ebel as leasing agent, it also retained Castagnoli, who ran the shopping center for former owner Urban Retail Properties. Ebel previously was involved in leasing and property management with General Growth Properties and Feldman Properties.
Discount collegiate sportswear retailer Steve & Barry's has been a welcome addition, Castognoli notes. "That's a great tenant," he says of the store that replaced TJ Maxx.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.