BRIXMOR PROPERTY GROUP INC. 450 Lexington Avenue ¦ New York, NY 10017 ¦ 800.468.7526
Kristen Moore
Senior Vice President, Marketing 646.344.8841
Kristen.Moore@brixmor.com
Leading retailers buybuy Baby and Stein Mart to open storefronts in 2016
buybuy BABY, a national retailer of infant and toddler merchandise, will operate a 23,522-square-foot store in a space formerly occupied by OfficeMax. Stein Mart, an upscale, boutique-style department store, will operate a 30,824-square-foot store in a space formerly occupied by Marshalls. Both retailers are expected to open in 2016, further enhancing Arapahoe Crossings' strong anchor tenant lineup, which already includes King Soopers, Kohl's, Gordmans and AMC Theatres.
The strategic additions of buybuy BABY and Stein Mart have resulted in approximately 14,000 square feet of follow-on leasing with category-leading brands Boot Barn, Papa Murphy's and T-Mobile. As a result of the recent leasing activity, Arapahoe Crossings' occupancy has increased to 99 percent from 87 percent. These successful anchor repositionings are an example of Brixmor's 'Raising the Bar' initiative, an ongoing program to maximize value in its shopping center portfolio and improve the customer experience.
'Our strategic anchor space repositioning projects have proven to be a catalyst for strong follow-on leasing that improves the center's merchandising mix and key operating metrics,' said Matt Berger, Senior Vice President of Leasing for Brixmor Property Group. 'Arapahoe Crossings represents some of the best retail real estate in the Denver market, and we expect these key additions will continue to attract category-leading brands and small shop retailers.'
Arapahoe Crossings is a market-dominant 466,000-square-foot power center strategically located at one of the busiest intersections in Colorado. The center witnesses more than 60,000 vehicles daily and is surrounded by an affluent, dense population of more than 231,000 people with an average household income of more than $93,000 within five miles.
For leasing information, contact Gavin Gray at (858) 202-1113 or gavin.gray@brixmor.com.
Brixmor owns and operates the nation's largest wholly owned portfolio of grocery-anchored community and neighborhood shopping centers, with 519 properties aggregating approximately 87 million square feet of gross leasable area located primarily across the top 50 U.S. metro markets. Brixmor leverages its national footprint, local market knowledge and operational expertise to support the growth of its retail tenants. The Company is focused on maximizing the value of its portfolio through its ongoing 'Raising the Bar' program which involves strategic leasing and anchor space repositioning / redevelopment initiatives. Headquartered in New York City, the Company is the largest landlord to The TJX Companies and The Kroger Company.
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