Massachusetts mall 100% leased for first time in 30 years
Leasing agent Dan Waldman clearly hasn’t read all the news reports about the demise of the American mall.
In 2015, when Waldman took over leasing for the Walpole Mall in Walpole, Massachusetts, 80,000 of the property’s 400,000 sq. ft. lay vacant. This week, his Waldman & Associates announced that the mall was 100% leased for the first time in 30 years.
The tenant mix is comprised of 14 big box tenants such as Old Navy, PetSmart, and Barnes & Noble, 14 interior tenants that include GNC and Keystone Jewelry, and 13 pad tenants like Panera Bread, Five Guys, and Aspen Dental.
“We used the impressive demographics and high traffic volume as lures,” says Waldman, who also put into action the business maxim, “Give the customer what the customer wants.”
Waldman helped a local liquor store owner secure a scarce license to open a 17,500 foot store in the center, and kept the expanding Broderick Gymnastics in the fold with an added 11,000 sq. ft. in space obtained by digging down below the current location.
The Walpole turnaround was just business as usual, as far as Waldman’s concerned. “Turnover,” he said, “is the nature of the mall beast.”
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