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Case Study

Leasing: Harmony creates a shopping buzz

Leasing – Our leasing representatives are located throughout the United States and provide results-driven, innovative leasing services for assets in a wide-range of urban and suburban markets. We maintain an extensive network of the country’s leading retailers, enabling us to capitalize on these strong relationships for the benefit of individual clients.

The Serramonte Center, built just south of San Francisco in 1968, was a longtime Bay Area shopping destination. But after almost 40 years, it showed its age both in appearance and merchandising mix. In 2002, new owners engaged our leasing and management experts to update the center and refresh the retailers.  

Partnering closely with mall ownership, our team conducted an architectural study to create vision for the center. Our findings launched a four-phase, multi-million dollar interior and exterior renovation using Feng Shui, the ancient Chinese practice of harmonizing people with their surroundings. From a calming fountain and cozy gathering areas to a color palette reflecting the four seasons, the mall’s cerebral sophistication became the shopping buzz of the San Francisco peninsula.

The center’s new look was accompanied by a reinvigorated collection of retailers at all levels. Our leasing experts replace marginal performers with new faces ranging from a Target Greatland anchor to ten youth-oriented firsts in the San Francisco area, including the first Crazy 8 by Gymboree store in the nation. We also created the center’s first-ever specialty leasing program including mall carts.

Today, the center is rejuvenated with over 120,000 square feet of exciting new retailers in a cosmopolitan setting. Serramonte Target alone consistently performs in the top 20 of the corporation’s 1,500 stores. Together, our teams’ aggressive marketing and leasing initiatives have helped increase Serramonte’s sales by 19 percent per square foot.

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