Valley Fair

Existing Asset Redevelopment/Repositioning

Valley Fair
Valley_Fair_Mall_Fountain.jpg

Summary

  • Acquisition Date – January 2008

  • Location – Salt Lake City (West Valley), UT

  • Value-Add Opportunity – Existing Asset

  • Re-positioning Size – 950,000 sq. ft.

Opportunity

  • Redevelopment and lease-up opportunity of a well located, highly visible regional mall with significant leasing interest and strong anchor tenants (Including new Costco ground lease)

  • Improving demographics (population growth) and improved sales and traffic is impetus for re-positioning and additional retail density - converting tenancy and physical format to serve changing market demographics

  • West Valley, Utah’s 2nd largest city, experiencing positive demographic changes

Value Added

  • Re-position the current tenant mix with a revised site plan that decreases interior mall shop space, adds credit with additional junior anchors, restaurants and entertainment

  • Increasing density with additional outparcel and freestanding buildings creating a town-center

  • Restore image of asset within community through re-positioning plan

  • Public-private partnership with supportive City of West Valley

  • Off market transaction