Westfield Shoppingtown Brandon turns 10 next year, but mall officials already are making birthday decisions more important than what type of cake to order.
The regional mall is essentially full, but almost half of the original store leases expire in 2005.
Sixty-five leases are being renegotiated for higher rents, new storefronts and, in many cases, smaller spaces for retailers whose initial optimism exceeded sales results.
"This process will enable us to make some substantial improvements in the mall and its merchandise mix," said Stephen Fluhr, general manager of the mall that is one of three in the Tampa Bay area owned by an Australian developer that runs the malls in Countryside and Citrus Park.
With 2003 sales per square foot of $410, an increase of $35 a square foot over 2001, the Brandon mall is among the most prosperous and heavily trafficked in the region.
Malls typically use lease negotiations to weed out marginal performers, reshape the types of products sold and maximize rents, which are tied to a percentage of sales. So far a few of the Brandon mall's original tenants left on their own, including Banana Republic and Ann Taylor. Sure to be in line this time is at least one of the property's two sprawling FYE music/video stores.
Mall officials are not revealing their wish list. But they want more apparel options for young people and home decor stores. They also are negotiating for two more sit-down restaurants in hopes of getting shoppers to linger on property a little longer.
You can also say goodbye to most of the potted silk flowers that are lined up along onewall above the storefronts. "One of the restaurants will take the space of the mall management office, so I may be out in a trailer," Fluhr said.
By the time the dust settles, the Brandon mall's lineup of 155 stores could rise to 170.
