Sears, Roebuck & Co. will debut a new format at Utah’s largest open-air retail development. The Jordan Landing Shopping Center will encompass more than 1.4 million sq. ft. when it is completed early next year.
Sears will open its 200,000 sq. ft. Sears Plus prototype in the fall of 2003. Other tenants include Lowe’s, Wal-Mart, Sam’s Club, Barnes & Noble and TJ Maxx.
Sears will launch the new prototype in four locations nationwide. For Sears, the move is a marked change from its typical strategy of occupying enclosed malls. "Our leasing team came up with a leasing plan that combines value, convenience and leisure. Today’s sophisticated consumer demands more than just big box retailing," says Jeff Vitek, senior vice president of CB Richard Ellis’ retail services division, and the team leader for leasing at the center.
Back in 1999, Jordan Landing broke ground with a 24-screen, 5,600-seat Cinemark theater, which is one of the largest "mega-plex" theater complexes in the state.
The 1.4 million sq. ft. Jordan Landing Shopping Center is part of the master-planned community of Jordan Landing, which features 102 single-family homes and 1,200 multifamily units. The residential component has roughly 5,600 residents along with 106 acres reserved for a business research park and professional office space. There are also 95 acres zoned for light industrial manufacturing and a 3.5 acre hotel site.
"Jordan Landing Shopping Center is located in the middle of one of the fastest growing residential areas in Utah. The primary trade area has a population of over 280,000 residents, a 34% growth rate and an average household income in excess of $66,000," says Chris Gentzkow, an associate with CB Richard Ellis’ Retail Services.
