Manage Shopping Center Asset and Increase Occupancy
| Posted by Casey Hatcher
Shopping Center: Westgate
Agent: Paul Johnson
Property: Westgate Towne Center, South 1st and South Pioneer Drive
Parties: Cadlerock Company and Paul Johnson and Associates
Goal: Manage and lease the property owned by Cadlerock. Includes 195,645 square feet of improved property and over 36 acres of commercial land. To increase occupancy and manage the asset.
Obstacles overcome: Mall demoed and redeveloped as a power center. Paul Johnson and Associates leasing and managing in 2006.
Final result: Renewed the Kmart lease and marketed out lots and tracts. Added new tenants, Military Recruiters, Sleeping Giant and Lab Corp. Also sold out lots to Taco Bell, with two more under contract. Sold one tract to Fresenius Medical Care at South Danville and South 3rd.