TUCSON-In a multi-million dollar repositioning push, Feldman Equities of Arizona has begun expanding the Foothills Mall in Tucson, adding 60,000 sf of retail space and 11 new tenants to the Ina Road and La Cholla Boulevard shopping center.

Scott Jensen, a partner in Feldman Equities, tells GlobeSt.com that plans for the 508,000-sf, 97%-occupied mall include an updated Loews Cinema complex, the creation of a $1.5-million extension for tenant Famous Footwear that will double its size to 10,000 sf and the development of 50,000 sf of pad space along with two new mall entrances. “We have the capability of adding up to 104,000 sf,” Jensen said of the site’s potential.

The investment group already has started construction on the Famous Footwear extension and the development of periphery pad sites for Thomasville Furnishing, the Fox and Hound Smokehouse Tavern, Arizona Central Credit Union, Compass Bank and a multi-tenant freestanding retail building that will house Chipolte Grill, Starbucks, Baskin Robbins, Subway, 1 Hour Martinizing and Team Mobile. A 4,800-sf Melting Pot restaurant will be added to the mall’s interior by the end of the year, Jensen said.

In a separate deal, Feldman Equities also has inked an agreement with Loews to convert several of its 15 screens into full-stadium seating and re-route pedestrian traffic through the mall entrance, rather than through the existing parking lot entrance.

“It’s a win-win situation,” Jensen said of the theater project. “We think the ‘stadiumization’ will increase traffic for Loews and a prominent entrance on the inside will increase our mall traffic.” Jensen said the investment group also is negotiating with several new tenants and expect to announce added expansion plans later this year.

Larry Feldman, owner and CEO of Feldman Equities, and long-time Arizona partners Jensen, James Bourg and Bruce Ash of Paul Ash Management Co. LLC, picked up the property in 2002 in a $54-million deal with seller, Dallas-based Hillwood, owned by Ross Perot Jr., and joint venture partner, General Electric Capital Corp.

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?


© 2023 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.

Dig Deeper


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


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 © 2023 ALM Global, LLC. All Rights Reserved.