PLANO, TX—With Credit Suisse projecting up to 25% of American malls closing during the next five years, brokers see tremendous opportunity to put this kind of real estate back to work at a higher and better use. The failure of the 1980s retail mall configuration could be a breakthrough in that this type of retail reinvention/redevelopment is becoming more commonplace in high-value areas such as North Texas.
One obvious example is Collin Creek Mall, which is under contract by developer Sam Ware of Dreien Opportunity Partners for acquisition this year. Ware's team plans to make subtle changes to the property in the interim while a larger redevelopment is in the planning stages.
One of the brokers on the transaction, Mike Kennedy, senior vice president, Avison Young Dallas, surmises that the Collin Creek Mall could be the next generation of urban redevelopment. The mall's location at a busy intersection in booming Plano is an example of how assets caught flat footed in the changing retail landscape can hold tremendous upside.
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
