When a retailer leaves a shopping center, it can be critical to stabilize the asset by re-tenanting the vacancy as quickly as possible to restore the income stream, and minimize additional issues with co-tenancy. As you begin this re-tenanting process it can trigger questions related to existing conditions, use of existing construction versus starting over, retailer preferences, tenant mix, possible lay-outs, and construction costs versus potential income as you evaluate your options. This process can seem daunting, but the right skill set, determination, and some creativity can turn this challenge into an opportunity. With a proven track record of success in this "creative reuse" process, ICSI can help you navigate the re-tenanting process to a successful outcome.
Former Menards Redevelopment
The project consisted of the conversion of a vacant Menards store into a new multi-tenant mid-box center consisting of an approximately 18,770 square foot JoAnn store, 25,383 square foot Ross Dress for Less, 11,443 square foot Five Below, and 22,310 square foot PetSmart. Work included new prototypical facade elements for the tenants, separation of all utilities, shell modifications, and full turnkey deliveries for all tenants. By working with the developer and the architect early in the process, ICSI was able to utilize existing major shell components and other existing features to minimize cost. Despite weather delays, the project was delivered on time to meet the developer's and tenants' needs.
Cedar Rapids, IA
Renovation and re-tenanting work to convert a vacant K-Mart and retail development totaling over 150,000 square feet to include turnkey deliveries for Hobby Lobby, Shoe Carnival, and HomeGoods with warm shell deliveries for The Fresh Market, Firehouse Subs, and Versona as well as other small tenant deliveries in completion of the center. The work included interior demolition, façade modifications, site improvements, and construction requirements to accommodate the various tenant deliveries inclusive of coordination with the tenant’s contractors where applicable.
Former Cub Foods Redevelopment
Green Bay, WI
A vacant former Cub Foods grocery store was converted to accommodate an approximately 25,000 square foot Ross Dress for Less, a 20,000 square foot Marshalls, a small shop space, and an 18,000 square foot Petsmart store working predominantly with the existing building footprint. Early involvement in the project allowed ICSI to work with the developer and the architect to reduce costs associated with the redevelopment while also working to maximize leasable area. Due to its early involvement in the project, ICSI was able to identify possible issues so that they could be addressed as part of the lease and design processes to help avoid costly delays in the process.