Who remembers getting the JC Penney’s Christmas catalog as a child? Besides having more than enough toys to go around, big department stores had something for everyone no matter the shopping occasion. A family could easily spend an hour or so browsing the store’s shelves, and that’s even before going to the toy section.
Today, the 1-stop-shop department stores are fewer and fewer, creating vacancies in older shopping centers that single tenants simply can’t fill. To keep these centers current, occupied, and profitable, a restructuring of leasing spaces and a façade refresh is needed to attract a wider range of tenants. A current project at JL Architects does just that.
Located in New Jersey, this shopping center had 2 large vacancies, one at 33,000 sf and one at 45,000 sf. To appeal to a wider range of tenants, the building footprint was reduced at the rear wall, and the two spaces were converted to 4 spaces. In addition to reducing the building depth by roughly 11,000 sf, the front elevation was reworked, and tailored to potential tenants.
Currently, this project is under construction, and soon we will turnover the first tenant space for interior work. Our client is anxiously looking forward to a newly occupied shopping center with a fresh look, new leases, and increased profitability.
Brandon Runnels, GGP