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[MEDIA COVERAGE] Transformation at Gadsden Mall, tremendous impact on community and opportunities for retail to succeed

Wednesday, May 12, 2021

The Transformation at Gadsden Mall is well underway. With excitement and momentum seen and felt throughout the community. The Spinoso Real Estate Group (SREG) leasing and redevelopment teams have been making significant strides transforming the property, an asset with deep and sentimental roots in Gadsden, Alabama.

“We could not be more proud of the work we’ve completed thus far at Gadsden Mall. The momentum and excitement is real,” said Carmen D Spinoso, Chairman and CEO of SREG. “We’re seeing and hearing the stories of how the transformation at Gadsden is having a tremendously positive impact on and in the community,” continued Spinoso, “the post-pandemic shift to normalcy is clearly evidenced by consumer desire to experience and interact, and tenant demand for physical space. Retail has evolved through the pandemic, and a new wave of exciting local and national retailers are eager to make their mark.”

Despite the 2020 challenges, SREG stayed committed and focused on pushing through and doing what we do best, creating value in the communities we serve.

“Exciting announcements are on the horizon for the Gadsden Mall. Following the last recession and the COVID-19 pandemic, the deterioration of traditional retail and shopping habits accelerated, resulting in shopping centers nationwide struggling. After weathering these storms, the Gadsden Mall is adopting a different approach, inviting nontraditional tenants – rooted in the local community – to create a captivating and attractive entertainment destination for visitors,” mentioned Katie Bohannon, News Editor at The Messenger

SREG announced in November of 2020 in a press release three major tenants, Tre Ragazzi, The Alley, and Martin’s Family Clothing, have made plans to open at Gadsden Mall. Tre Ragazzi and The Alley are set to open in the former Sears box space, while Martin’s Family Clothing will take over JCPenney’s space.

“We’re thrilled to welcome three new exceptional tenants to Gadsden Mall,” said Carmen D. Spinoso, Chairman and CEO of the national real estate firm, SREG, “We’re excited about the opportunity and the positive impact the new tenants will have not only in revitalizing the spaces previously occupied by JCPenney and Sears, but also the value it will bring to the community.”

Additionally, one of Gadsden Mall’s recently-opened tenants, The Alley, has made international headlines with a cover story in International Bowling Industry magazine, the world’s only magazine devoted exclusively to bowling. Entertainment venue, The Alley, is a 35,000 SF family-focused center, with an 18-lane bowling alley, 60-seat video arcade, virtual reality features, indoor food truck and private party rooms. The Alley is a recent deal completed by Spinoso Real Estate Group as a key part of their efforts to revitalize Gadsden Mall and the former Sears box space. Along with this, the company has completed two other deals with Tre Ragazzi and Martin’s Family Clothing, both of which will contribute to Spinoso’s goal to make an impact on the property and the local community. Owner of The Alley, Bethanne Mashburn, recently sat down with International Bowling Industry Magazine to share her family’s entrepreneurship legacy, close connection with the mall and how she crafted a unique vision for the entertainment venue.

“That’s one of the first things we do when we take over a project. We come in, assess the situation and understand the market so we can deliver what [the community] wants. We would never tell a community, ‘This is what you need.’ It’s all about listening, beginning to form a plan and delivering on that,” said SREG’s Director of Leasing Chris Fiello in an interview with Bohannon, “what I find extremely impressive is there are so many talented local business owners here. That’s been fun – meeting all these people, getting to know them and developing relationships.”

 

“As the universe of true department stores shrinks and traditional retail and shopping habits transform,” continues Bohannon, “through Spinoso Real Estate Group and innovative and passionate tenants, the Gadsden Mall adapts to a new era. The Gadsden Mall remains afloat and ventures toward a promising future, as dedicated individuals strive to manifest a bustling hub and frequented destination of entertainment, shopping and dining in the heart of their community.”

To be part of the transformation at Gadsden Mall, contact our team today.

Source: The Messenger, By Katie Bohannon, News Editor
Photo Credit: The Messenger, By Katie Bohannon, News Editor

 

 

About Spinoso Real Estate Group
Spinoso Real Estate Group is a national real estate firm, specializing in enclosed shopping malls and large-scale retail properties. The firm offers a range of services including leasing, property management, repositioning, development, stabilization, and re-development. For more information, visit www.spinosoreg.com.

About Gadsden Mall
Gadsden Mall is a 507,000 square foot regional shopping center with stores such as American Eagle, Belk, Bath & Body Works, Premiere Cinemas 16 and Planet Fitness. Gadsden Mall is managed and leased by Spinoso Real Estate Group. For more information, visit www.shopgadsdenmall.com.

 

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