When acquired by The Krausz Companies, the 1.2 million square foot Puente Hills Mall, once the leading regional retail destination, had been abandoned by tenants and customers. Occupancy was less than 50% and rapidly declining; annual sales, excluding department stores, had collapsed to under $20 million. The mall was anchored by Sears and Robinsons-May as well as J.C. Penney and Broadway stores that were both slated to close.
Recognizing that there were many better-positioned regional malls in the area, The Krausz Companies created an aggressive repositioning plan to develop an attractive, innovative center unlike anything else offered in the region. Creating a hybrid series of districts atypical to the experience usually found at an enclosed mall, Krausz constructed an entertainment wing anchored by a 20-screen AMC Theatre that opened directly onto the Mall, a Central Park inside the Mall with flowing streams and seating that encouraged people to gather, and a new food court. Added to this were a collection of big box tenants that catered to the needs of the value shopper, and a vibrant mix of national, regional and local fashion, food and entertainment tenants rounding out the enclosed mall experience. While many of the incorporated elements have become common today, the program was at the forefront of these trends when implemented. In addition, The Krausz Companies added value to the center by developing over 75,000 square feet of retail and restaurants on newly created outparcels.
Upon completion, Puente Hills Mall regained its status as a leading retail and entertainment destination in the southern San Gabriel Valley. Occupancy increased to over 90%, and non-department-store sales were over $120 million per year and climbing at disposition.
1600 S Azusa Ave,
City of Industry, CA 91748
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