CANTON, OH-Nassimi Realty has finished the second phase of the externalization effort at Canton Centre Mall, a more than $10 million effort to turn all stores into an outdoor property. The company bought the 433,500-square-foot indoor center, on Tuscarawas Street West, in 2004, and started the de-malling process early last year. “The process is moving forward nicely, despite the economic climate,” says company president Mike Nassimi.

He says tenants seem to appreciate the renovation, signing leases for four new stores. Nassimi says his company has a few other companies in negotiation for more square footage. “We’ve finished a 10,000-square-foot out-lot, and filled it up, we only have 1,500 square feet available there. By March-April, the front section of the center will have all the current stores facing to the outside, and then we’ll wrap around toward the J.C. Penney and Wal-Mart side,” Nassimi tells GlobeSt.com. His firm is completing a modernization program for the J.C. Penney, which has extended their lease by five years. The 200,000-square-foot Wal-Mart opened in 2005, shadow-anchoring the property.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.