NEW YORK--(BUSINESS WIRE)--ShopOne Centers REIT Inc., (“ShopOne” or the “Company”) a leading owner, operator and manager of high-quality grocery-anchored shopping centers, today announced it has signed a new lease with Old Navy at Maple Hill Pavilion in Kalamazoo, Michigan, bringing the center’s occupancy rate to over 99 percent leased. The global apparel and accessories retailer will occupy roughly 23,578 square feet of space and is expected to open in early Summer 2020.
The addition of Old Navy continues the strong leasing momentum that has occurred at Maple Hill Pavilion over the past few months. Recently, the Company welcomed Ulta and local restaurant favorite, Breakfast at Tiffiny’s, to further complement the already dynamic mix of national tenants at the center including Target, Marshalls, PetSmart, DSW, and Five Below.
“Over the past two years, we have created an enhanced value proposition for our customers in Kalamazoo by strengthening our retail mix, and we are excited to continue this with the addition of Old Navy,” said Bob Dake, Executive Vice President of Leasing at ShopOne. “As we further expand our national footprint, we look forward to growing our relationship with such a highly respected and category-leading brand.”
Maple Hill Pavilion is a 281,968 square-foot shopping center located just east of the heavily trafficked intersection of US-131 and West Main Street. The center sits within a five-mile population radius of over 110,000 full-time residents and is a short drive from Western Michigan University.
ShopOne Centers REIT is a leading owner, operator and manager of high-quality shopping centers. The Company’s retail centers are located in established trade areas and are supported by a diverse mix of highly productive non-discretionary, value-oriented and grocery retailers. ShopOne is committed to maximizing the value of its portfolio by capitalizing on embedded growth opportunities through driving rents, increasing occupancy and pursuing value-enhancing redevelopment opportunities. To learn more about ShopOne, please visit www.ShopOne.com.