R etail D evelopment R eimagined
M id A tlantic Real Estate Journal — Retail Development Reimagined — September 2023 — 11A
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Shopping center offers abundant dining, shopping, and entertainment options U.S. Properties Group continues its forward progress at The Shoppes at Montage Mountain S © Google Inc.
Mountain has produced over 30,000 s/f of new tenants to benefit the continued growth in occupancy even through the pandemic issues. Dave & Buster’s has started construction on their big res- taurant concept of 19,336 s/f on - site at The Shoppes at Montage Mountain. Highly publicized as a leader in up-and-coming mar- kets, the area’s strong analytics drove them to the shopping center. Opening is slated by Spring of 2024. Gord Wiebe , managing di- rector of USPG states: “Moosic, PA continues its growth, and The Shoppes at Montage Moun- tain will continue to keep its one-of-a-kind destination a premier place to shop, dine and relax. We are partners and together are committed to the future success of this growing community. Nothing will ever replace the “brick and mortar” experience. Shoppers want the entertainment, the touch,
the feel, the excitement, and the personal assistance only a brick-and-mortar shop can bring. We at U.S. Properties Group are committed to the growth of our outdoor open-air centers as a first choice of loca - tion. We remain selective to keep the center stable and the retail mix vibrant. We want to fuel the local economy, while attracting guests to our center and the area.” Tim Todaro , senior leasing associate for USPG notes: “The leasing activity at The Shoppes at Montage Mountain continues to be successful. Lease renew - als and strong sales numbers exceeding pre-covid levels are generating plenty of activity and interest in the remaining spaces. We are working pro - actively to constantly attract lively retail offerings that make The Shoppes at Montage Moun- tain the place to shop, dine and entertain in the Moosic and surrounding area.” MAREJ
CRANTON, PA — The Shoppes at Montage Mountain continues its forward progress in economic development growth in the Wilkes-Barre/Scranton market. The U.S. Properties Group (USPG) mantra of “being pre- pared, ready and adaptable” will be again challenged with the unfortunate closing of the Christmas Tree Shops nationwide. The Christmas Tree Shops at The Shoppes at Montage Mountain was one of the best performing stores in the 80-store chain. This said, Christmas Tree Shops owner - ship had various operating issues and are now in process of a full liquidation of all its stores and this location will close. The team at USPG has been planning for this exit with a robust campaign of initiatives to find the best tenant to fill this void and make the center more vibrant with a large traf- fic generator. USPG has been
The Shoppes at Montage Mountain aerial
engaged in discussions with major national tenants who have expressed interest. The proper fit and consideration of all alternative formats to fill the space will be used to enhance the shopping area. USPG’s solid, keen insight, and their 20-year track record of filling sub-anchor spaces will add to its millions of square feet already leased. The Shoppes and the sur- rounding area boast ongoing
growth, exceeding pre-pandem- ic sales and lease revenues. The future growth and potential are unlimited. The expanding retail tenant mix increases offerings in the local community and keeps the tax dollars in Moosic. The shopping center continues to supply the area with a great assortment of restaurants, shopping, and entertainment venues that consumers find at - tractive. In the last two years alone, The Shoppes at Montage
Ideal Realty Group, Rock Creek Property Group, and The Sigmund Cos. acquire four regional shopping centers in Dale City, Virginia
DALE CITY, VA — A Joint Venture of Ideal Realty Group, Rock Creek Proper- ty Group, and The Sigmund Companies has acquired four regional shopping centers in Dale City. for $52.8 million. Af - filiates of Ideal Realty Group, Rock Creek Property Group, and The Sigmund Compa - nies purchased the centers from an affiliate of Interstate Management Incorporated. The portfolio includes Center Plaza, Mapledale Plaza, For- estdale Plaza, and Glendale Plaza with a combined 470,000 s/f on 70 acres. The properties are all lo- cated less than three miles apart along Dale Blvd. in the greater Woodbridge, VA area. They have been a highly traf- ficked staple of the community for decades since being built starting in the 1970’s by the original designers of Dale City. Each center features a wide range of well-known necessity retailers, including national brands and local businesses.
shoppers to relax and gather • Security improvements in - cluding enhanced lighting and pedestrian friendly pathways • Identity and tenant signage upgrades • Enhanced landscaping Once the work is completed, the shopping centers will at- tract a broad new audience of regional and national retail- ers to lease the few remaining spaces. These improvements, coupled with the nationwide trend embracing work-from- home employment policies – make it easier for people to frequent brick and mortar re- tailers and increases demand for neighborhood serving retail space. “The hybrid work environ- ment is here to stay, and neigh- borhood retail centers are a direct beneficiary of this mega trend. Our partnership is very fortunate to have found such a critical mass of well-located centers which should see in- creasing demand from both retailers and customers in the
future, said Gary Schlager , principal with Rock Creek.” KLNB , one of the Mid-At - lantic region’s largest privately held CRE brokerage firms, has been assigned all retail leas- ing for the four properties and The Shopping Center Group has been retained for property management. KLNB has al - ready begun to actively market the centers to potential tenants that are excited to enter the growing market. “These four properties are extremely well located and an essential part of the Dale City and greater Woodbridge, VA community,” said KLNB principal Veronica Kamara. “Prospective tenants will love their location that enjoys over 100 thousand vehicles per day combined, a residential popula- tion of more than 120 thousand people within a three-mile radius, and an average house- hold income of $150 thousand a year. And the fantastic im - provements will only make it more appealing.” MAREJ
Center Plaza
Current tenants include two Gi - ant grocery stores (Center and Mapledale), Truist Bank, CVS, Ace Hardware, Advance Auto Parts, Wells Fargo, and Dollar General. Combined, the shop - ping centers are 90% occupied. A planned multimillion-dol - lar renovation will transform the centers and create an even more compelling business lo- cation and experience for fu- ture tenants and consumers.
Scheduled to begin in Q1 2024, these improvements will touch virtually every exterior element and create a first-class shop - ping environment for the com- munity. Working with MV+A Architects , the renovations will include: • New paint and façade im - provements • Improved parking lots with sealcoating and restriping • Public congregation points for
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