CASA GRANDE — Owners of The Promenade at Casa Grande say they expect to have at least three new tenants in the coming year.
After losing Cost Plus World Market, which had been one of the mall’s largest tenants, a couple months ago, Lamar Properties expressed optimism for 2019 as the company offers free rent at most of the mall’s empty locations.
Cory Boss, a spokesman for Lamar, told PinalCentral the company has signed leases with three new tenants and most current tenants have renewed their leases.
And there may be more tenants in the future, he added, including an entertainment venue inside the 40,000-square-foot space that used to be Sports Authority.
“We have another half a dozen prospects right now in various forms for negotiations,” Boss said in a statement.
The last few years have been tough on the outdoor mall, with big retailers like Target and Best Buy deciding to leave the property. Yet the mall’s location along Interstate 10 potentially makes it appealing to retailers and the property’s many restaurants and movie theater still generate foot traffic.
Lamar, a New Jersey-based company, bought the mall last year and quickly started offering temporarily free rent at some of the vacant stores as an incentive to attract new tenants. Many empty shops now have signs posted advertising this rent special.
Cloud 9 MedSpa, which provides anti-aging skin remedies, is one of the new tenants that will benefit from this free-rent deal for one year.
Nick Greathouse, owner and operator of MedSpa, said his business has outgrown its current location on Florence Street and the mall seemed like a good spot to possibly attract new clients.
“I’m hoping I’ll get more exposure,” said Greathouse, who hopes to have his mall location open within the next two months.
Lamar’s also signed leases with a new barber shop and jewelry store. According to a map of the mall, Lamar listed 30 stores and lots that were available to new tenants.