HOUSTON–Memorial City Mall has inked seven new retailers for the mixed-use property. The new leases are part of the mall's shift toward better-bridged tenants and its attempt to keep up with the growing consumer base in the West Houston area. The new tenants include Vera Bradley, Banana Republic, Soma Intimates, Chico's, Brighton Collectibles, Six:02 and Kay Jewelers.
Memorial City Mall received a complete overhaul in 2003, turning it into not only a shopping location but also a family destination. The new design included a full NHL-sized ice rink, double-decker carousel, as well as a children's play area. Retailers added recently include Michael Kors, Bare Minerals and the American Girl Store, which is the only one in s 200-mile radius.
“Ever since the renovations, we've seen a steady increase in the sales per square foot,” Danna Diamond, director of retail leasing, told GlobeSt.com. “Since 2008 alone, we've seen a 42% increase in sales/square foot and do not anticipate this slowing down any time soon.”
Last year the1.7-million-square-foot mall saw annual sales near $800 per square foot.
“Our current retailer's productivity is attractive and compelling to prospective tenants. By continuously improving our tenant mix, our shoppers return with more frequency and make purchases from a mall that is better equipped to suit them,” Diamond says.
Brighton Collectibles, Six:02, and Vera Bradley will open this spring, while Banana Republic and Soma Intimates will open this summer. Kay Jewelers will be ready for business by the fall and Chico's is set to open in Spring 2015.
The total vacancy of the property was not disclosed.
The mall is part of the larger Memorial City, a 265-acre mixed-use development. The project also includes more than two million square feet of class A office space, the Memorial Hermann Memorial City Medical Center, The Westin Memorial City, as well as a variety of chef-inspired restaurants and luxury midrise apartments.
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