By LAURA KINSLER | lkinsler@growthspotter.com | GrowthSpotter | April 2, 2024 at 4:30 p.m.
The California firm that bought Shoppes at Fashion Square last year is moving forward with more plans for more shops and restaurants in the center abutting to the struggling mall on Colonial Drive.
LBX Investments will follow the opening this month of Del Taco with two new retail buildings on shovel-ready pads bookending the mall entrance off Maguire Boulevard. LBX Investments bought the Floor & Décor-anchored shopping center from Seritage Growth Properties last May for $25.7 million.
Managing Partner Rob Levy told GrowthSpotter that new construction was always part of the plan for the asset. “We feel strongly about Floor & Décor as an anchor for the project, and we want to build around them,” he said. “So certainly had the idea and strategy to build a few outparcels and also to complete the tenancy at Floor & Décor.”
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Whittall and investor/broker Daryl Carter bought the 46-acre mall property in 2019 for $23 million but for years couldn’t come to terms with Bancorp, which owns the actual mall building, to buy out the lease.
Read the entire article here: https://www.growthspotter.com/2024/04/02/more-shops-and-restaurants-coming-to-shoppes-at-fashion-square/