Our client, Centennial Real Estate Company, acquired five established regional shopping centers in a single deal that involved more than six million square feet of gross leasable area. The properties serve communities in four different states, from east to west coast: Connecticut Post Mall, in Milford, CT; Fox Valley Mall, in Aurora, IL; Hawthorn Mall, in Vernon Hills, IL; Main Place Mall, in Santa Ana, CA; and Vancouver Mall, in Vancouver, WA. Together, the centers have an average annual occupancy of more than 97 percent.
DMA’s expertise in retail tenant delivery helped smooth the transition to the new owner’s leasing and operations team following the initial acquisition. Our client is committed to revitalizing and reinvesting in these retail hubs, offering a current and unique mix of shopping, dining, entertainment and special events to suit each local market. In support of this goal, DMA is providing ongoing retail tenant delivery, feasibility and project management services for the portfolio of properties.