The Nation’s Premier Retail Operating Group, Pacific Retail Capital Partners, is Hired as Management and Leasing Partner for Raleigh’s Popular Retail Center
RALEIGH, N.C. – (April 27, 2020) – Pacific Retail Capital Partners (PRCP) announced that effective today, it has been hired to take over the management and leasing of the popular 1.3 million-square-foot Crabtree Valley Mall.
In the midst of a national health pandemic that caused shopping centers to shut down all over the country, Pacific Retail Capital Partners has well prepared and helped its clients, like Crabtree Valley Mall, to not only endure but also to thrive.
“Amidst this unprecedented time when shopping centers across the country are closed due to COVID-19, we are adapting, leading the charge to keep our shopping centers on target to achieve success upon reopening. We are well prepared to serve as a resource for Crabtree Valley Mall tenants and the local community,” says Najla Kayyem, senior vice president of marketing for Pacific Retail Capital Partners. “We are thrilled to bring our deep expertise to the Raleigh market to further the successful history that Crabtree Valley Mall has seen.”
Crabtree Valley Mall is one of the premier shopping destinations not only in Raleigh but also in the Southeast. With 1,343,109 square feet of premium retail space among two stories, Crabtree Valley Mall is home to nearly 200 stores and dozens of restaurants. Anchored by Belk and Macy’s, the center is also home to H&M (the first in North Carolina), Forever 21, Arhaus, North Face, Sephora, Apple Store, Disney Store and many more. Dining favorites include Seasons 52, Flemings, Kanki Japanese House of Steaks & Sushi, P.F. Chang’s China Bistro, The Cheesecake Factory, Chick-Fil-A, Panera Bread and others.
In addition to food and shopping, Crabtree Valley Mall also hosts various events throughout the year to engage its visitors and the local Triangle community alike.
Pacific Retail Capital Partners is nationally known as a leader in reinventing and revamping the traditional shopping center experience. With more than $2 billion in retail assets presently under management in the U.S., the company excels in identifying centers with strong fundamentals in well-performing markets and transforming them into higher quality assets through active management and redevelopment. Pacific Retail Capital Partners targets regional centers in or near major metropolitan regions, with a specific focus on regional and open-air lifestyle centers that have lost touch with the surrounding community.
“We look forward to building relationships with each tenant and to share our post-COVID-19 plan to upgrade the shopping experience and activations,” said Gary Karl, chief operating officer of Pacific Retail Capital Partners. “As part of our plan, we have engaged The Malley Co., a national leader in retail leasing, to join the team and lead leasing efforts for Crabtree Valley Mall. We will apply our experience and will work with our leasing partner to improve on the property’s retail and restaurant mix to ensure the center best serves the local market.”
The center opened its doors more than 40 years ago in 1972 and is located on Glenwood Avenue, just off the I-440 Inner Beltline in Raleigh.
For more information about Crabtree Valley Mall, please visit www.shopcrabtree.com.