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Anchor come, anchor go

October 28, 2019

Retail landlords have been busy filling former big-box and department-store anchor spaces with new tenants and new uses. Here is a snapshot of some of the progress being made around the U.S.

Colorado Springs, Colo.
Developers want to convert the 145,300-square-foot former Sears store at Broadmoor Towne Center into a space for multiple retailers by 2021.

Neptune Beach, Fla.
Developers TriBridge Residential and TLM Realty aim to reinvent a former Kmart store as Saltwater Row, a mixed-use complex with some 30,000 square feet of retail at the base of a 44-room boutique hotel.

Columbia, Md.
German discount supermarket chain Lidl is to open a 26,200-square-foot store in the former Sears space at The Mall in Columbia.

Kentwood, Mich.
Woodland Mall opened its new wing last month. A 90,000-square-foot Von Maur, the state’s first, is to replace the former Sears anchor in this $100 million renovation.

Roseville, Mich.
Hobby Lobby and At Home will move into the former Sears anchor at Lormax Stern’s Macomb Mall. Forever 21 and Five Below opened there this past summer. 

West St. Paul, Minn.
Residential developer Dominion has plans to build two apartment buildings on the site of a former Kmart anchor at Azure Properties’ Signal Hills Shopping Center. One of the towers will house a living facility for seniors.

Las Vegas
Developer Remington Nevada is to build a 320,000-square-foot open-air retail center in the former Sears Auto building in the parking lot of Boulevard Mall. Construction of Boulevard Plaza, as the project will be called, is to start next summer, with completion tentatively set for the summer of 2021. The plaza will feature national and regional retailers and restaurants. 

The former Macy’s anchor store in the Waterfront shopping center is being converted into class-A office space for two tenants that will occupy 90 percent of the former department store. Macy’s operated at the site for roughly a decade, closing in 2018 when the owners of the shopping complex bought the building.

Reno, Nev.
Round 1 Entertainment is to take the ground floor of the former Sears anchor store at Meadows Mall.

Bartlesville, Okla.
City officials approved plans to convert a former Kmart store into a multitenant shopping center featuring a Burke’s Outlet, a Dollar Tree, an Ollie’s Bargain Outlet and a Tuesday Morning discount store.

By Brannon Boswell

Executive Editor, Commerce + Communities Today

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