“The thought was to mirror it following successful facilities such as the Rye Ridge shopping center or Riverside Commons shopping center,” explained James Ritman, Stamford-based executive vice president in Newmark Grubb Knight Frank, the commercial real estate company representing Clark’s Hill’s ownership. Clark’s Hill had preserved a roster with tenants including a supermarket, restaurants, a photograph shop and a dry-cleaning company. Standing a couple of blocks from downtown Stamford plus minutes’ drive from the exits, it attracts from maybe tens of thousands of passers-by that are daily. DiScala chose of revitalizing properties such as a Howard Johnson hotel in Greenwich’s site that became a J House hotel, the firm, Ritman explained. This season, the multimillion-dollar refurbishment that began consists of fresh ventilation and mechanical systems, new roofing and the installation of wood-finish facades and rock paths. Dining institutions would be housed by the north end of this plaza, where the prior market dropped, a grocery store could proceed to the northwest corner and non-food institutions would function in the west row of this complex. Garett Palmer, a broker with Goodfellow Real Estate in Danbury, said as the landscape changes out of renters, maintenance is crucial. Despite storefronts, the signs, roof and resurfaced parking lot, Brien estimates that the center’s vacancy rate runs higher than the rest of Greenwich areas.
source http://home-improvements-one.com/property-rounds-shopping-centers-rekindle-to-keep-up-with-contest/
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