Category Archives: News

WINGTIP TAKES FLIGHT

Susan Reda – August 29, 2016

Do what you love and love what you do. It’s a delightful sentiment, yet most feel it’s as elusive as the Holy Grail.

Not Ami Arad, the founder and CEO of Wingtip, a 22,000-square-foot menswear shop in San Francisco’s Financial District. Arad has built a business that embodies everything he desires in a shopping experience, and his vision appears to be in sync with what a growing number of affluent men are seeking.

Born in 2002 of Arad’s yearning for a high-touch, high-service experience, the store caters to a professional man with an eye for the finest fabrics, top-notch brands, custom clothing and well-heeled amenities. Arad does nearly all of the buying, no small feat given the 10,000-plus items offered. And he has established partnerships to open shops within the store selling wine and spirits, fly-fishing equipment and cigar accessories. A private club, accessible exclusively to members, houses a bar and lounge, private parlor rooms, a golf simulator, a wine cave and more.

Anyone is welcome to shop at Wingtip, and Arad says 75 percent of the retail business is generated by passersby. Still, the air of exclusivity is a key part of the appeal. Those who want to be part of the private club pay a one-time initiation fee and monthly dues (half of which are converted to rolling store credit). Arad says 50 percent of revenue is generated by the store, the rest by club fees to the tune of “double-digit millions” in overall revenue.

Unabashed in his description of Wingtip, Arad told a group of press and analysts at NetSuite SuiteWorld that he built a business so that he could “spend the rest of my life with others like me.” Brazen for sure, yet he recognizes that despite having created a business that is essentially his personal playground, he must invest in technology to stay close to his customer, enhance the shopping experience and personalize every element of the business.

Having developed some tech expertise, Arad initially launched the business using homegrown systems — an approach he looks back on as “death by a thousand paper cuts.” He says Wingtip “erased 10 years of technical debt by migrating to NetSuite … I see the promise of technology, and the truth is, I don’t utilize it as much as I should.”

So what are the lessons here? First, it’s possible to take what you love and build it into a business. And while shoppers may be growing weary of subscriptions and memberships, there are some folks willing to pay for the cache of being part of an exclusive club. Finally, there’s no substitute for knowing your customer, and no better way to cultivate that intimacy than to use technology — not as a proof point for what you’re looking to validate, but as a roadmap to go where the data takes you.

RIDGELAND’S NORTHPARK ANNOUNCES FIRST TASTE FOR THE SPACE EVENT WINNER

The Stuffed Baked Potato Factory Wins Opportunity to Open Inside Northpark Eatery, with 6-Months Free Rent and a $50,000 Investment.

RIDGELAND, Miss – (December 17, 2018) – Northpark, Ridgeland’s only enclosed climate controlled shopping and dining destination, recently announced the first winner of its Taste For the SpaceTM culinary event hosted at the beginning of December. The Stuffed Baked Potato Factory won an opportunity to open its dream restaurant inside the Eatery at Northpark, as well as 6 months free rent plus $50,000 to put toward their new space – a prize package worth $140K.

The Stuffed Baked Potato Factory specializes in a variety of quality meats, cheeses and toppings, bringing a new and unique concept to the greater Jackson area. Owner, Michael Joyner, fell in love with the idea in 2015 when his lifelong friend started the company. Since then, Michael has become the first franchisee owner and has extreme passion for what he describes as, “the perfect and simple concept – taking any food item from across the world and turning it into a stuffed baked potato.”

“Winning Taste for the Space gives me the chance to take my company to the next level while continuing to create and share my stuffed baked potato creations. The Stuffed Baked Potato Factory is a labor of love and proof that when you believe in something and work at it, the possibilities are endless.” Said Michael Joyner. “With my new establishment, I plan to put a smile on my customers’ faces and create an experience that will keep people coming back for more and plan to do what I do best – provide a variety of quality stuffed baked potatoes with unparalleled service.”

The Stuffed Baked Potato Factory served their signature dish called the “Trash Can Stuffed Baked Potato,” which includes seven different meats, cheeses, onions, BBQ sauce, chives and a blend of Moe’s Magic Dust seasonings.

“It was an exciting and energy filled competition between all 11 chefs, but The Stuffed Baked Potato Factory was the winner and had a unique concept that we know will thrive here at Northpark,” said Ruben Perez, executive vice president of leasing for Pacific Retail Capital Partners, the operating group for Northpark. “Taste for the Space, the first culinary and community event of its kind at Northpark, brought together the community to support its local culinary scene. Because of this event, there is an exciting possibility of having a few other contestants join the line up at Northpark.”

Taste for the Space, a family-friendly, community-focused culinary event, took place on Saturday, December 1st. This food festival and cooking competition brought together food trucks, local restaurateurs and chefs to showcase signature dishes to the local community, and share why their taste should win the space. The event also featured games, an interactive photo booth, kids’ activities, a vodka tasting station from Cathead Distillery, live entertainment and more. Taste for the Space was sponsored by Sysco Nourishing Neighbors, who generously provided all the food and paper products for the competing chefs on the day of the event, WLBT On Your Side, Parents and Kids Magazine, Super Talk Mississippi, and Cathead Distillery. More information about Northpark and the Taste for the Space winner can be found at visitnorthpark.com.

Pacific Retail Goes On Buying Binge

SEPTEMBER 21, 2016 | BY RAYNA KATZ
LOS ANGELES—Locally based Pacific Retail Capital Partners and a joint venture partner—who has chosen to remain anonymous—have purchased three…
The Galleria at White Plains is an approximately 870,000-square-foot, four-level, enclosed regional mall.
LOS ANGELES—Locally based Pacific Retail Capital Partners and a joint venture partner—who has chosen to remain anonymous—have purchased three regional malls across the country totaling approximately 2.8 million square feet of retail space.
The properties, which have a combined value in excess of $200 million, were sold by Simon Property Group. The trio of shopping centers are the Galleria at White Plains,
White Plains, NY; Northpark Mall in Ridgeland, MS and The Esplanade in Kenner, LA, outside of New Orleans.
Based here, Pacific and its partner were represented in the transaction by a legal team from Orrick. Led by Olga Sirodoeva, partner in the firm‟s Washington, DC office, the team included real estate partner Marshall Brozost, corporate attorney Maria Sergeyeva and senior paralegal David Burkhart, as well as others at Orrick. Simon reportedly did not have representation.
“These properties are all prime examples of retail centers that serve a vital need in the community,” says Steve Plenge, managing principal of Pacific Retail Capital Partners. “Pacific Retail will evaluate each asset in the context of the neighborhood and what is valued by the customers to create a program to further enhance its appeal.
He continues, “This may include bringing new uses to the center, improving the physical space, adding events and public programs and in some cases redeveloping portions of the real estate.”
The Galleria is an approximately 870,000-square-foot, four-level, enclosed regional mall in an urban market of Westchester County, New York. Located at 100 Main St., the center is across the street from The Ritz-Carlton Hotel and Residences and walking distance to the Metro North train station. White Plains is popular with commuters to Manhattan and features a business district with nearly six million square feet of office space within walking distance of The Galleria. The center currently features 130 retailers including Macy„s, Sears, H&M, Forever 21 and a host of eateries.
“To build on this strong asset, among the initiatives we are considering for The Galleria is stepping up the food offerings with more casual and fine dining and an enticing food hall to better serve area residents, visitors and office workers,” Plenge comments. “We will conduct an evaluation of the center to outline a capital improvement and leasing program.”
The Northpark Mall is set on almost 100 acres in a community that has seen the addition of 8,000 homes in the past ten years, approximately 10 miles from the state capital of Jackson. Located at 1200 E. County Line Road, the busiest retail corridor in the state, the approximately 958,000-square-foot, two-level mall offers 120 retailers and eateries. Northpark is the only enclosed regional mall in a 50-mile radius and serves a large residential population.
“At Northpark we are exploring the potential to add retailers that will be new to the market but fit the area demographics and demand,” Plenge observes. “We also will be refreshing the space to make it more attractive and inviting.”
Five minutes from the New Orleans International Airport and 15 minutes from Downtown, the Esplanade is set on 80 acres. Located at 1401 W. Esplanade Ave., the more than one-million-square-foot mall is in a popular residential area near Lake Pontchartrain.
Easily accessed with a newly opened direct-access ramp from the I-10 regional thoroughfare, the two-level center includes Dillard‟s, Target, Macy‟s, Victoria‟s Secret, Old Navy, an array of fast-casual eateries and a movie theater.
“The Esplanade is an example of a substantial piece of real estate in a thriving community,” Plenge notes. “We may explore some development to bring new, complementary uses, such as residences.”

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Pacific Retail Wins THREE MAXI AWARDS at ICSC 2019 Global Awards CEREMONY

LOS ANGELES, Ca. – (May 20, 2019) – Pacific Retail Capital Partners (PRCP) based in Los Angeles, CA was honored with several awards of distinction during the 2019 Global Awards sponsored by the International Council of Shopping Centers (ICSC). The ICSC Global Awards Program, held in Las Vegas at RECon, the world’s largest retail real estate convention, recognizes the retail real estate industry’s most innovative events, programs, and technologies that add value to shopping centers and companies across the country.

The shopping centers in the PRCP portfolio that utilized a myriad of resources to re-energize centers, drive traffic, increase sales and give back to their respective communities, and were recognized as a MAXI finalists include Paseo Nuevo in Santa Barbara, CA; Eastridge Center in San Jose, CA; The Shops at South Town in Sandy, UT; Galleria White Plains in White Plains, NY; Yorktown Center in Lombard, IL; and Northpark in Jackson, MS. “I have the distinct honor of collaborating with a talented group of people and companies to take Pacific Retail to the next level and create impressionable experiences for our guests, while continuing to push the envelope in the industry”, said Najla Kayyem, Senior Vice President of Marketing, who accepted the awards on behalf of PRCP.

Three Pacific Retail centers took home three MAXI awards – one gold and two silver awards – recognizing the properties’ programming as the best in class across all centers and companies in both the United States and Canada.

With the power of innovation, leadership, and teamwork, PRCP was the recipient of the following awards:

Gold MAXI Award in the category of Impact for shopping centers more than 500,001 square feet: Aloha Winter Rollerland – The Aloha Roller Rink was a staple of the San Jose, CA community from the 70s until 2014 when sadly, it shuttered. Eastridge Center, which was fully-renovated in 2018 and was once home to an ice rink through the 70s as well, is constantly evaluating experiences they can offer to the community. With a vacant Sports Chalet box and an approaching holiday 2018 season, they excitedly explored the idea of bringing the famed roller rink back as a holiday pop-up experience. The new Aloha Roller Rink opened at Eastridge with much success in November 2018 and – after an outstanding continued local response – will remain open for patrons to enjoy throughout 2019. Offering theme nights, free lessons, mommy and me events and more, this go-to destination offers the nostalgic community an updated classic while driving redevelopment awareness, center traffic, sales, and a healthy rent.

 

Silver MAXI Award in the category of Innovation for Shopping Centers more than 500,001 square feet: The Shops at South Town Murals – The Shops at South Town completed an interior renovation in 2017, however the exterior façade was left bare of improvements. With limited ownership funds, the team enacted a creative solution to involve their city council. Envisioning exterior blank walls as an opportunity to cultivate the arts, the team garnered the city’s partnership to fund a public art program. The $85,000 contribution began what is now an ongoing city-funded arts initiative. Activating walls with art created synergy between the center’s picturesque backdrop and the urban-meets-mountain renovation theme. Featuring three artists, the murals serve as a tangible touch point inspiring lasting community engagement.

 

Silver MAXI Award in the category of Revenue for Shopping Centers more than 500,001 square feet: Humana Partnership: Yorktown Center secured a multifaceted year-long partnership with national healthcare agency, Humana. The business development deal generated thousands of dollars in new revenue in 2018 totaling 30% of the business development budget. The partnership included onsite activations, advertising domination in Center Court, and sponsorship of the “Heart & Sole” center walking club. Humana activated Center Court with weekly events including fitness classes, seminars, health checks and games that added experiential value, traffic, and sales. The partnership proved extremely valuable to Humana who renewed the partnership for 2019.

“We are fortunate to not only have some of the most passionate and talented marketing people in the industry on our team, we also have an incredibly savvy group of investors who partner with us to execute these award-winning initiatives,” said Gary Karl, Chief Operating Officer for PRCP.

 

About Pacific Retail Capital Partners

Pacific Retail Capital Partners (PRCP) is one of the nation’s premier retail operating groups of large open-air centers and enclosed malls, with more than $1.8 billion in retail assets presently under management in the United States. Based in Southern California, PRCP provides end-to-end sourcing, assessment, underwriting, valuing, developing, and asset management of retail real estate with a proven track record of repositioning retail properties. PRCP strategically manages over 11 million square feet of regional malls and open-air lifestyle centers. The Executive team has over 150 years of collective real estate expertise with deep experience in leasing, marketing, operations, design, development, investment, and finance. With a keen focus on enhancing the value and quality of its growing portfolio, PRCP is dedicated to creating a unique, strategic vision for each property and exceeding the highest expectations of retail investors, retailers, and consumers. To learn more visit www.pacificretail.com or follow us on social media at:

Facebook: pacificretailcapitalpartners

Instagram: @PacificRetail

 

About ICSC

The International Council of Shopping Centers (ICSC) is the world-wide trade association of the shopping center industry and serves the global retail real estate community. Their 70,000+ member network provides over 100 countries with invaluable resources, connections and industry insights, and work together to shape public policy. For more information about ICSC visit www.icsc.org.

Northpark Begins Multimillion Dollar Renovation Early 2018

Interior and Exterior Redevelopment of Mississippi’s’ Premier Indoor Shopping Destination Pays Homage to Region’s Roots

Ridgeland, Miss. (November 8, 2017) – Pacific Retail Capital Partners announced today that multimillion dollar renovations for Northpark (https://visitnorthpark.com/) in Ridgeland, Mississippi, will begin in the first quarter of 2018. The renovations will encompass a comprehensive redevelopment of the center including; entrances, dining area, children’s play area, restrooms, interior and exterior landscaping, furniture, fixtures, lighting and common areas. Gensler Architects, based in Los Angeles, will lead architectural and design efforts with Unified Construction serving as the general contractor.

“These renovations provide a new atmosphere, modern design, thoughtful options for families, and a place to create memories through experiences that go beyond shopping,” said Gary Karl, Chief Operating Officer of Pacific Retail Capital Partners. The renovation is the first step in repositioning one of Mississippi’s largest commercial destinations. People will experience architectural upgrades merging the region’s distinct Southern character with timeless, modern design. The stunning new look will combine clean modern glass, steel and natural light with the warmth of woods and subtle floral nuances. The remodeled Northpark will deliver a mix of both traditional and new, with a curated experience for guests and community members.

“We’ve been working with Northpark leadership for years to reinvest in the property,” shared Ridegland Mayor Gene McGee.  “We are anxiously awaiting the designs and look forward to working with them on ensuring the expectations of our community are exceeded.” Northpark, located on County Line Road, is part of the busiest retail corridor in the state. With approximately 958,000 square feet of retail and restaurant offerings on two levels, this long-standing indoor shopping destination in Ridgeland is poised for growth after its recent acquisition and this redevelopment by Pacific Retail Capital Partners.

“Investing in Northpark and this strong community benefits everyone,” added Karl. “The renovations and added amenities will provide an improved experience, for both our retailers and community. The fresh dining venues, children’s interactive play experience and family lounge create a stylish and warm, family-friendly gathering hub for Ridgeland.”

Karl continued, “This renovation is part of the longer term overall redevelopment of the property as we continue to look at filling a deficit in entertainment options in the tri-county area, as well as new local and national dining experiences and the right curated mix of retailers to fit the needs of this community.”

Northpark will remain open throughout the redevelopment with a scheduled completion of the work for late 2018, prior to holiday season. Management is focused on minimizing disturbances to visitors and tenants with the majority of the renovation occurring at night and after hours. Pacific Retail Capital Partners oversees all operations at Northpark, and has significant experience in the management, leasing, marketing and repositioning of shopping destinations. To learn more about Northpark, visit https://visitnorthpark.com/ or follow updates on its social media pages:

Facebook: https://www.facebook.com/NorthparkMallMS/
Twitter: https://twitter.com/ShopNorthparkMS
Instagram: https://instagram.com/ShopNorthparkMS
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About Northpark
Mississippi's premier indoor shopping destination, Northpark, is home to more than 120 in-demand stores and specialty shops. Located in Ridgeland, Mississippi, Northpark is a tri-county staple and integral part of the community’s rich history. Conveniently located less than one mile east of I-55 at the intersection of County Line & Wheatley Roads, Northpark features Dillard's, JCPenney, Belk, H&M, Victoria's Secret, Windsor, Godiva Chocolatier, Hollister & Co., PacSun, and Buckle as well as more than 120 other retailers. 12 dining options range from The Med Grill, to Steak Escape, Stir Fry 88, Kelly’s Cajun Grill, Chick-fil- A and more. For additional information, visit https://visitnorthpark.com/

About Pacific Retail Capital Partners
Pacific Retail Capital Partners is a fully integrated, entrepreneurial organization with an unparalleled depth of knowledge in all aspects of retail real estate. Its team of executives and strategic partners draw on decades of experience with major national shopping center owners to deliver top-tier service as an operating partner and provide efficient oversight of the company's own portfolio. Pacific Retail's broad-based talent is versed in multiple disciplines from investment and development, which enables the company to quickly assess market opportunities, to management, leasing and marketing which allows it to effectively control costs and maintain the quality of its properties. Its investment and management portfolio includes Yorktown Center in suburban Chicago Illinois; Colonie Center outside Albany, New York; Broadway Commons in Long Island New York; Eastridge in San Jose California; The Galleria at White Plains, in Westchester
County, New York; The Esplanade just outside of New Orleans, Louisiana; Paseo Nuevo in Santa Barbara California, The Shops at South Town in Sandy, Utah and Tivoli Village outside of Las Vegas Nevada. To learn more visit http://www.pacificretail.com or follow social media at:

Facebook: https://www.facebook.com/pacificretailcapitalpartners/
Instagram: @PacificRetail

B&B Theatres to open at Northpark

Premier Movie Theater Group Opening in Fall 2019 at Mississippi’s Popular Shopping Destination RIDGELAND, MS. (May 17, 2019) – Northpark in Ridgeland, Mississippi announced today that B&B Theatres will be the newest addition to the region’s popular shopping destination. Northpark, managed by Pacific Retail Capital Partners, completed a multi-million dollar redevelopment in November of 2018. Poised for ongoing growth, Northpark continues to expand its tenant mix to include B&B Theatres, which operates 400 screens at 50 locations throughout the U.S., with the Ridgeland complex becoming the theater company’s second location in Mississippi.

“We are absolutely thrilled to introduce B&B Theatres to Ridgeland,” states Northpark General Manager, Kasey Dickson. “This is the next step of our journey after completing the first phase of redevelopment. B&B Theatres’ cutting-edge vision and contemporary design will complement The New Northpark perfectly,
providing an entertainment experience that is unique to the area.” Located at 250 Ring Road in Ridgeland, MS, B&B Theatres’ acquisition of the former Regal Cinema will include a complete redevelopment of the property. The auditoriums, lobby, restrooms, and concession area will be fully revitalized, with new, state-of-the-art screens, seating, carpet, paint, countertops and signage. An all-new exterior façade will be constructed in addition to a freshly resurfaced parking lot. B&B Theatres will introduce multiple amenities designed to enhance the movie-going experience. The addition of Marquee Bar, a full-service bar, will allow guests 21 and over to enjoy a beer, wine, or cocktail with friends before the show or bring into the auditorium during the movie. Marquee Bar will be complemented by an adjacent lounge where guests can gather before or after the film to enjoy food from an extended, hot, made-to-order menu. Auditoriums will be outfitted with wide leather recliners that are heated and operated electronically, with guests having the benefit of reserving seats prior to the movie. The free Backstage Pass Loyalty Program will award guests for box office and concession stand purchases. B&B Theatres plans to announce additional unique and exciting entertainment elements closer to the Grand Opening celebration, which will be fall of 2019.

About B&B Theatres
B&B Theatres has been family owned and operated since 1924 when Elmer Bills Sr. opened a movie house in Salisbury, Missouri where the future Mrs. Bills played the piano for silent movies. During the company’s 95 years and four generations of family involvement, it has seen the coming of sound, color, Technicolor, stadium seating, multiplexes, recliners and digital cinema. B&B Theatres is the 6th largest theater chain in North America and operates 400 screens at 50 locations in Kansas, Iowa, Florida, Missouri, Mississippi, Oklahoma, and Texas.

To learn more about B&B Theatres visit https://www.bbtheatres.com/.

Northpark Mall undergoing multi-million dollar renovation

WATCH VIDEO HERE

 

RIDGELAND, MS (Mississippi News Now) – Big changes are underway at one of the metro’s most popular shopping destinations. Thursday morning a groundbreaking ceremony was held at Northpark mall, including mall officials and others from the community.

The owners of the mall, Pacific Retail Capital Partners, are starting a multi-million dollar renovation project. The mall will be remodeled inside and out, beginning with work on a new food court.

They plan to add a new eatery, and expand the current space, to include more lighting, and seating. Other changes planned for the mall include renovating restrooms, the children’s play area, and entrances.

They plan to incorporate new landscaping, furniture and even artwork from the community.

“We are very cognizant of our shopping experience while we’re under redevelopment so we will go to great lengths to ensure our retailers and customers are taken care of,” said Pacific Retail Capital Partners Senior Vice President of Marketing, Najla Kayyem. “The mall will stay open throughout the entire renovation process.”

“It’s important not only for Ridgeland but for Mississippi to keep this mall strong, keep it vibrant and for them to do this kind of investment I can’t express what it means as far as the value for the quality of life for citizens of Ridgeland, Madison County, but also for the guests and people who come here,” said Ridgeland Mayor Gene McGee.

The mall will remain open during the renovations, will little impact to tenants and shoppers. The first phase is expected to be completed by Thanksgiving.

Rainbow Co-op to open at Northpark

Established Cooperative Health Food Store Opening in July 2019 at Mississippi’s Popular Shopping Destination

 

RIDGELAND, Miss. (May 23, 2019) – Northpark in Ridgeland, Mississippi, announced today that Rainbow Co-op will be the newest addition to the region’s popular shopping destination. Combining the shared vision and mission of Rainbow Co-op’s Board of Directors, shareholders, and the Community Development Department in Ridgeland, the well-known health food cooperative will continue its nearly 40 year legacy at Northpark’s southeast entrance near Med Grille. The new location was selected for its accessibility, foot traffic, and abundant natural lighting.

“To welcome a store such as Rainbow Co-op is amazing. The distinction and local product-mix is a win-win for Northpark and the community as a whole,” states Northpark General Manager, Kasey Dickson.

The new store will focus on a curated inventory, concentrating on specialty items such as hard-to-find herbs, spices, supplements, coffees and teas, as well as a selection of popular “by-the-pound” items such as beans, rice, and flour. Rainbow Co-op will continue to offer popular natural grocery and beauty items. There will be a community meeting for shareholders to discuss the changes on June 30th, and a soft opening is planned for July. The Grand Opening Celebration date and associated programming elements will be announced in late June.

Northpark, managed by Pacific Retail Capital Partners, completed a multi-million dollar redevelopment in November of 2018. Poised for ongoing growth, Northpark will continue to expand its tenant mix in the coming months.

To learn more about Rainbow Co-op on follow social media at:

Facebook: RainbowCoop

Instagram: @Rainbow_Coop

Twitter: @RainbowCoop

Groundbreaking ceremony and VIP event for Northpark redevelopment to be held March 8

RIDGELAND, MS (Mississippi News Now) –

Northpark will hold a ceremonial hard hat groundbreaking event on Thursday, March 8, to launch Phase 1 of the multi-million dollar redevelopment to the property.

Ridgeland Mayor Gene McGee will be there to make remarks, along with the Ridgeland Chamber of Commerce president Karen McKie, Senior Vice President of Marketing Najla Kayyem, Pacific Retail Capital Partners and the general manager of Northpark, Kasey Dickson.

Later that evening, officials from Northpark and Pacific Retail Capital Partners will host a VIP reception in celebration of the groundbreaking. It will be in the upper level near Belk.

The groundbreaking ceremony starts at 10:30 a.m. with the VIP reception starting at 6 and 8 p.m.

Work starts on a new era for Northpark Mall

By JACK WEATHERLY

Work started Thursday on a new era for the 34-year-0ld Northpark Mall on the Ridgeland side of County Line Road.

Long the anchor of the mile-long retail corridor that historically dominated metro Jackson, the mall faced the daunting realities of the marketplace that has changed radically since 1984 across the country and world since the advent of the Internet and major players such as Amazon, not to mention other retail centers that have opened in the area.

Yet Pacific Retail Capital Partners of El Segundo, Calif. saw an opportunity to reinvigorate and to some extent reinvent the mall.

In September 2016, Pacific Retail announced that it had bought the 958,000-square-foot property from Simon Property Group  for an undisclosed amount. Simon built the mall, operated it from the beginning and spent several million dollars on it in 1998.

A leasing agency for the mall said last year that the Pacific Retail renovation figure will be about $50 million. But Pacific Retail, a private firm, maintained that the price will be “multi-million dollar.”

Ridgeland Mayor Gene McGee during his remarks on Thursday twice extolled the “safety” of shopping at the mall. Asked afterward why he emphasized that, he said that malls in general have an unwarranted reputation for safety risks.

Najla Kayyem, Pacific Retail senior vice president for marketing, told the gathering standing in the bright spring sun and brisk wind that “the new Northpark will re-imagine the mall as a sequence of experiences.”

“At the heart of this transformation is the repurposing of the . . . entrances and corridors . . . and communal gathering places,” Kayyem said. Public art will be installed outside and inside, she said.

In the children’s play area, a theater will be added and the food court will be “expanded and transformed into a spacious communal dining area with an intimate cafe-style dining experience.”

The owner is seeking a combination of local and national tenants, Kayyem said.

“We are open to any ideas or prospects that you guys have,” she said.

Phase one of the project is expected to be completed by the holidays at the end of the year, Kayyem said.

She told the local management that the challenge of meeting the ultimate goal will be “a long process and it’s not  going to be easy.”

 

See original article HERE