A “Before and After” Story

Transcription

Northtown Mall
A “Before and After” Story
Presented by:
Paula Mueller, General Manager
Glimcher Realty Trust
Northtown Mall
Built in
1972, and
purchased
by Glimcher
in 1998 as a
“diamond in
the rough”.
Within three
years, 50
new tenants
were added
to the
property.

Northtown Mall
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109TH AVENUE
DAVENPORT STREET

The City of
Blaine grew
with us too.
Here were our
adjacent
neighborhoods
at the time
Glimcher
acquired the
mall…
CENTRAL AVENUE / HIGHWAY 65

Northtown Mall
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109TH AVENUE
DAVENPORT STREET

And today!
2,200 homes
surround the
Arnold
Palmerdesigned
Tournament
Players Club.
CENTRAL AVENUE / HIGHWAY 65

Northtown Mall

CL
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When
Glimcher
bought
Northtown
Mall in
1998,
Blaine’s
population
was just
35,000…
125TH AVENUE NE
Northtown Mall

125TH AVENUE / MAIN STREET
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Today, it
has grown
to over
60,000,
almost
doubling
over the
last ten
years!
AD
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Northtown Mall
The North Metro’s Quiet Giant

800,000+ square feet.
Five million annual customer
visits.
Sales of $320+/square foot.
Boasts a number of high
performing national
retailers.
Located in a trade area
growing 5 times faster than
the regional average.
Northtown Mall Renovation
The Monument Signage - BEFORE

Viking Fan…YES.
Viking Ship Fan…Not so much.
The Monument Signage - AFTER

Enhanced design
elements including
stacked flagstone
mirrorring mall
entries, and caststone finial caps.
Grand in scale; 20
feet high by 40 feet
long.
Completely void of
Viking Ship logo!
The Mall Entries - BEFORE

Dated materials and
design elements.
Pull-to-open doors,
inconvenient for
wheelchair and
stroller traffic.
Outmoded exterior
furnishings.
Oooooh…Teal!
The Mall Entries - AFTER

State-of-the-art
materials and design
elements; stacked
flagstone columns and
crown molding.
Sliding glass doors
with swing-open side
entries.
Upgraded exterior
furnishings and
lighting.
Absolutely no teal!
Applebee’s BEFORE

The former
site of the
“Bombay
Bicycle
Club”
An excellent
parcel just
waiting for
the perfect
tenant.
Applebee’s - AFTER

State-of-theart design,
with only
two more
like it in the
entire U.S.!
The First Outparcel Addition

Situated at the corner
of County Road 10 and
Jefferson Street at the
northeast corner of the
Northtown Mall
property.
Retailers include
Potbelly Sandwich
Works, Verizon, EB
Games, FedEx/Kinkos,
and a new Chipotle!
Wards -BEFORE

After 102 years
as a retail giant,
Montgomery
Wards
bankrupted in
2001.
They closed
their highperforming
Northtown Mall
store last.
Home Depot Out Parcel - AFTER
Home Depot, the
world’s most successful
home improvement
retailer celebrated their
Grand Opening at
Northtown Mall in
February, 2007.
Home Depot’s
Northtown Mall
outparcel location
features an upgraded
mix of furnishings,
flooring, lighting, and
fixtures.

The Food Court - BEFORE

Seating capacity
total of 200 on
dated furniture.
Space for just five
food concepts
and one “anchor”.
L-shaped
configuration with
limited retailer
exposure.
Cozy restrooms
with seating for
three.
The Eatery - AFTER

New seating capacity of 500
on brushed metal and
hardwood furniture.
Space for nine food/retail
concepts and two “anchors”.
Airy, open atrium and
polished Italian tile flooring.
1,500 sf of brand new
women’s and men’s
restrooms, family restrooms
with child-sized amenities,
and nursing rooms complete
with rocking chairs and
kid’s art.
Burlington - BEFORE

Kohl’s
vacated the
center to
reposition
themselves as
a stand-alone
retailer.
Sales dropped
60% when
they left
Northtown
Mall and
opened
elsewhere.
Burlington - AFTER
Burlington celebrated
their Grand Opening at
Northtown Mall on
September 2, 2005.
The 85,000 sf space is
home to Burlington,
Luxury Linens and Baby
Depot concepts.
Burlington’s new
concept store at
Northtown Mall features
Italian marble floor
tile, and maple and
nickel fixtures.

LA Fitness - BEFORE

An outdated
exterior entry,
and thirteen
retailers were
vacated or
relocated to
make way for
new tenant
LA Fitness.
LA Fitness - AFTER

LA Fitness,
the fastest
growing fullline fitness
club in the
nation
opened at
Northtown
Mall in June
of 2008.
Herberger’s - BEFORE

When Mervyn’s
closed all of their
Minneapolis
stores, Northtown
Mall began
immediate
negotiations with
Herberger’s.
Herberger’s - AFTER
Herberger’s
Northtown Mall
store was the
only department
store to open in
the U.S. in
2008.
It is on track to
exceed sales
projections by
30%.

What’s Next?
Outparcel Growth!
An additional 25,000 square feet
over the next three years.
Northtown Mall
Change is the Constant