Product Description
This digital document is an article from Journal of Property Management, published by Institute of Real Estate Management on July 1, 1995. The length of the article is 2067 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
From the supplier: Carlson Real Estate Co. surprised the real estate industry by acquiring the barely surviving Minnesota Valley Mall in Shakopee, MN, in 1988. At that time, over 45% of the rentable floor space still had dirt floors, only 41% was leased and 10% of the retailers were mostly struggling entities. What convinced the company to proceed with its plan to buy the shopping mall were the studies it conducted showing that turnaround of the shopping was possible, primarily the result of anticipated economic and tourist boom in the area as well as forecasts of improved traffic flow. The first thing that Carlson Real Estate did was to negotiate with current tenants and increased rental rates. Then, it beautified the exterior and interior of the building, and found new tenants. Finally, the mall was renamed Shakopee Town Square to provide it a local feel. These efforts eventually paid off as seen in improved earnings for the mall.
Citation Details
Title: The turnaround of a shopping mall. (Shakopee Town Square in Shakopee, Minnesota)
Author: Dean Riesen
Publication: Journal of Property Management (Refereed)
Date: July 1, 1995
Publisher: Institute of Real Estate Management
Volume: v60 Issue: n4 Page: p48(3)
Distributed by Thomson Gale
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