Springfield Town Center's Big Opening
Springfield Town Center (which we've written about several times over the last few months) officially opened Friday and saw throngs of shoppers, traffic swirling around the block, and barely an empty parking space throughout the weekend. (We snapped the frenzy Sunday afternoon, during the ‘Skins game.) It opened at 81% occupancy, including anchors, and over 80% of non-anchor space had tenant commitments. Nearly 50k SF of additional stores will open before the holidays. Once known as Springfield Mall, Vornado spent $250M redeveloping 1.3M SF of retail and restaurants and transformed a nearly abandoned, crime-ridden mall into a town center with retailers like Michael Kors and Topshop and restaurants like Maggiano’s and Yard House. The project was sold to PREIT for $465M.