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Case Study: The Shoppes at Grand Prairie, Peoria, IL and The Shoppes at College Hills, Normal, IL

Property: The Shoppes at Grand Prairie, Peoria, IL & The Shoppes at College Hills, Normal, IL
Client: Miller Capital Advisory, Inc.

Summary:

In early 2010, Miller Capital Advisory sought an experienced property management team for a pair of outdoor retail centers in Peoria and Normal, Illinois. Though similar in style, the two open-air centers are distinctive in format and market position.

  • The Shoppes at Grand Prairie, developed in 2004, is a regional, open-air shopping destination with more than 468,000 square feet of retail space.  The pedestrian-oriented lifestyle center includes more than 40 specialty stores and restaurants and is anchored by Bergner’s, Dick’s, and Old Navy.
  • The Shoppes at College Hills is a convenience-oriented, upscale strip center with a broad range of 25 retailers and restaurants occupying 425,000 square feet and anchored by Von Maur, Target, and a freestanding Hobby Lobby. The center’s unique layout resulted from a de-malling project in the late 1990s.

Miller Capital had already identified a leasing partner, The Pollard Group, that participated in the original leasing of The Shoppes at Grand Prairie. Looking for a general manager for both centers with strong qualifications and collaborative ability, Miller Capital selected dma | property.

dma | property streamlined operations, improve physical standards, and reduced operating costs for The Shoppes at College Hills and The Shoppes at Grand Prairie while supporting The Pollard Group in maintaining a robust occupancy level during an economic recovery. For more than six years, dma | property served as the general manager for both centers, ensuring the viability and attractiveness of these assets and leading a larger team with effectiveness and efficiency:

  • Collaborating closely with Miller Capital in the areas of accounting and asset management
  • Delivering experienced operational leadership and marketing acumen to center staff, based in Grand Prairie for both centers
  • Working alongside The Pollard Group and providing tenant coordination support and managerial oversight

In separate deals in 2017, Miller Capital sold The Shoppes at College Hills and The Shoppes at Grand Prairie to new ownership. dma | property’s efforts contributed to the viability and appeal of these assets, and the team supported both property transitions.