Westland Mall

Westland MI

Private Equity owner was not pleased with the former Management and Leasing Company and made the decision to replace them with SREG

Transformation By The Numbers

New Deals

17

Within 1yr of Takeover!

4
17

Before Takeover

Completed

Sales (PSF)

6.1%

Increase

$345
$356

At Takeover

Completed

NOI

5.6%

Increase

$5.2M
$5.5M

At Takeover

Completed

Long-Term Vacancy
 
 

Before

 
 

After

 
 

Before

 
 

After

 
 

Before

 
 

After

 
 

Before

 
 

After

  • Completed 17 Permanent Leases with terms of 7 years or longer totaling 76,000 Square feet
  • New Deals that were completed included Ulta, Charming Charlies, and Shoe Carnival. All of which were designed with impressive exterior store fronts which serve to energize the shopping center. We also completed deals with H&M, Journey’s Kids and Hibbetts Sports among others.
  • Completed 44 permanent lease renewals at the property
  • Increased Small Shop sales by 6.1%
  • Increased NOI by 5.6%
  • Achieved 98% Occupancy
  • Increased Specialty Income by 25%
  • Designed and managed the renovations to the entrances to the property -total cost of $500K
  • Bid Contracts and managed construction on additional $1.5 million of Capital Projects, including Roof Replacements, loading dock replacement, parking lot repairs, as well as upgrading the lighting package at the mall to LED which itself created an equitable ROI.