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Eateries Key Ingredient to Mall Turn-Around

BLOOMINGDALE, IL-Redevelopment of Stratford Square, where Feldman Mall Properties paid $93.1 million for 500,000 sf of non-anchor space in January, includes new sit-down restaurants near mall entrances.

By Mark Ruda | Updated on August 15, 2005

(For more retail coverage, click GlobeSt.com/RETAIL.)

BLOOMINGDALE, IL-Although it was the company’s first purchase following its initial public offering early this year, Stratford Square remains in the early stages of Feldman Mall Properties’ three-phase redevelopment plan. Meanwhile, occupancy at the property stands at 64.6% when anchor and temporary tenants are excluded, with sales down to $271 per sf.

However, the company’s strategy involves a redevelopment plan that takes at least three years. And in Year One, Feldman Mall Properties is talking with several restaurant chains that may play a part in reversing Stratford Square’s fortunes.

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