Since celebrating its 10th anniversary in August 2010, the 1.5 million-square-foot FlatIron Crossing mall saw about 58 percent of its original 10-year retailer leases expire, according to Senior Property Manger Kim Campbell. That led to high profile departures from the food court, including Cinnabon and Wetzel’s Pretzels, but also resulted in 90 new leases, both with retailers already in the mall and 18 new tenants, including Tilly’s youth apparel store and Street Legal Burgers.
FlatIron Crossing has since suffered a double dose of bad luck, with large retailers Ultimate Electronics and Borders bookstore both falling victim to corporate bankruptcy.
Despite the challenges, Campbell reports the mall has seen double-digit sales increases since the last financial quarter of 2009. The mall also boasts an almost 95 percent occupancy rate, Drake said.
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