The 2022 year was especially robust for the Centennial real estate company which, in December alone, was awarded the management contract for both the Antelope Valley Mall in Palmdale, Calif., and the MarketFair enclosed lifestyle shopping center in Princeton, N.J. That adds to a year that saw Centennial acquire the Bayer Properties retail entities in August, namely The Summit Reno in Reno, Nev., The Summit in Birmingham, Ala., The Summit at Fritz Farm in Lexington, Ky., and the Bridge Street Town Centre in Huntsville, Ala. Earlier in the year, Centennial also acquired the Westland Mall in Hialeah, Fla., in January, The Shops at Willow Bend in Plano, Texas in April, and the Fairlane Town Center in Dearborn, Mich., in May. In addition, in April Centennial was awarded management contracts for both the Promenade Shops at Saucon Valley, in Center Valley, Pa., and The Shops at Montebello in Montebello, Calif.
“We are incredibly proud of the growth Centennial has experienced this year, and we look forward to working with every property that we have either acquired or been asked to manage as we define their most productive merchandising mix and provide them with the benefit of our expanded national reach and roster of more than 1,800 retailer partners,” said Steve Weiss, chief revenue officer for Centennial. Weiss added, “This expansive network includes best-in-class retailers, luxury brands, dining and experiential tenants that will elevate our new properties, as well as the entire portfolio, to the next stage in their growth and development lifecycles as icons within their communities and as top-performing assets.”
Centennial has also been in the news in 2022 for its first-to-market tenant openings, including the American Ninja Warrior Adventure Park that opened at its MainPlace Mall in Santa Ana, Calif., in June, and the Rebel Athletic cheerleader uniform/edgy athletic wear brand that opened in October at The Shops at Willow Bend in August. Plus, Centennial has undertaken massive mixed use redevelopments, such as its “Hawthorn 2.0” expansion at the Hawthorn Mall in Vernon Hills, Ill., which involves relocating 250 luxury apartments to create a large outdoor public plaza, a new mall entrance, and more restaurant/entertainment tenants along the exterior of the mall.
It doesn’t appear as if Centennial will rest on its laurels in the coming year either.
“With the strategic changes that have recently taken place at Centennial, we have perfectly positioned ourselves to be a force to be reckoned with in retail, and in the creation of one-of-a-kind suburban mixed-use campuses – and we’re not stopping here,” said Carl Tash, chief investment officer for Centennial. “There are additional announcements just around the corner, so stay tuned; the best is yet to come.”
