Project plans include a complete refurbishment and extensive renovation of all mall common areas, including new seating and restrooms; new interior and exterior signage; a completely revamped food court with a three-story glass atrium; new floor tile, skylights, lighting, customer amenities and kids' play area; a new mail mall entrance with a two-story grand lobby featuring a fountain and valet drop-off area and extensive new landscaping.

"This is more than a facelift for the mall; in total this project could mean $45 million to $60 million in additional spending for the area," said Gary Moss, regional vice president for the mall's owner, the IN-based Simon Property Group in a prepared statement. "In the short term, that means strengthening the economy. Over the long term, it means that Dadeland will remain a competitive, viable economic engine for South Florida." According to Moss, approximately 40% of the mall's visitors are tourists.

In addition to the mall's renovation, representatives of the Lord & Taylor department store have reached an agreement with Dadeland concerning the store's own renovation plans. Work is expected to begin next spring or early summer. When completed, the Lord & Taylor Dadeland will be a 160,000 sf prototype store with a new children's department, additional designer lines, wider aisles and a visually exciting design.

Simon Property Group, Inc., headquartered in Indianapolis, is a self-administered and self-managed REIT which owns or has an interest in 255 properties containing an aggregate of 184 million sf of gross leasable area in 36 states, and five assets in Europe.

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
NOT FOR REPRINT

© 2024 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.