Dunham’s Sports Joins Markland Mall Demonstrating Anchor Repositioning Progress
September 28 2020 - 4:02PM
Business Wire
Washington Prime Group Inc. (NYSE: WPG) recently celebrated the
grand opening of Dunham’s Sports, one of the nation’s largest
sporting goods chains, at Markland Mall, located in Kokomo,
Indiana. Dunham’s Sports relocated within the Kokomo area,
replacing a former Elder Beerman department store (Bon-Ton Stores)
at Markland Mall and bringing new retail options to the
well-located property.
“We are excited to be reopening this bigger store, which will
allow us to better serve the sporting goods needs of Kokomo and
shows our continued commitment to the area,” said Jeff Lynn,
chairman and chief executive officer of Dunham’s Athleisure
Corporation. “Dunham’s prides itself on providing our customers
with a wide variety of top-quality, value-oriented, name-brand
merchandise at everyday low prices.”
Washington Prime Group previously announced new anchors at
Markland Mall including ALDI, Party City, PetSmart and Ross Dress
for Less – which replaced a former Sears department store. The
successful anchor repositioning projects at Markland Mall are
representative of the Company’s efforts to renovate traditional
enclosed retail centers into a hybrid format which incorporates
both enclosed and open air formats.
Markland Mall is the only regional enclosed center within a
40-mile radius, solidifying its position as the dominant retail
destination in the area.
Lou Conforti, CEO and Director of Washington Prime Group stated:
“First and foremost, make sure not to miss the archery sale (ends
today, Thursday September 24th) at Dunham’s. I’m a recurve
traditionalist myself and let me tell you, if you want to partake
in an amazing daddy/daughter (son) experience take up archery. My
oldest and I started shooting arrows about ten years ago…she had
the cutest little pink compound bow. My apologies for the
sentimental reminiscence.
“I can’t tell you how happy all of Washington Prime Group is to
have Dunham’s Sports partner up with us at Markland Mall in Kokomo.
They are a great bunch of folks and truly understand the
demographics surrounding their stores and as a result know how to
select the optimal mix of sporting goods for a particular
location.
“So in honor of our new partners at Markland Mall, here’s my
very own Dunham’s Sports list especially curated for Kokomo’s
active lifestyle:
- Pelican Venture 100XP Sit-On-Top Angler Kayak for an excursion
along Wildcat Creek and of course an Onyx MoveVent Dynamic
Flotation Vest;
- Spalding SFA Pro 54 6A746 Portable Backboard System, Spalding
Super Flite Basketball and Adidas Men's Run The Game Basketball
Shoes…really don’t have to say much more other than if there’s any
question about the most basketball loving state just watch
Hoosiers; and
- Barnett Vertigo Youth Bow Set, Barnett DRT 405 Crossbow Package
With Crank and a Yellow Jacket CXP2 FP Bag Target.
“So hightail on over to Dunham’s and tell them Louie sent
you.”
About Washington Prime Group
Washington Prime Group: National footprint with local flavor.
With about 100 town centers throughout the US, we’re as American as
apple pie. As a matter of fact, we are also as American as deep
dish pizza in Chicago, Hawaiian poke salad, vegan spring rolls in
Malibu, El Paso Tex-Mex, Maryland crab cakes, kimchi in Orange
County, Memphis barbeque and a Kansas City porterhouse. Our well
regarded infrastructure, from Hawaii to Connecticut, and pretty
much everywhere else in between, allows our tenant and sponsor
partners to benefit from the operating efficacy and economies of
scale at a large national real estate company, alongside local
management who possess comprehensive knowledge of the specific
locale within which they reside. Washington Prime Group® is a
registered trademark of the Company. Learn more at
www.washingtonprime.com.
Forward-Looking Statements
This news release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of 1995
which represent the current expectations and beliefs of management
of Washington Prime Group Inc. (“WPG”) concerning the proposed
transactions, the anticipated consequences and benefits of the
transactions and the targeted close date for the transactions, and
other future events and their potential effects on WPG, including,
but not limited to, statements relating to anticipated financial
and operating results, the Company’s plans, objectives,
expectations and intentions, cost savings and other statements,
including words such as “anticipate,” “believe,” “confident,”
“plan,” “estimate,” “expect,” “intend,” “will,” “should,” “may,”
and other similar expressions. Such statements are based upon the
current beliefs and expectations of WPG’s management, and involve
known and unknown risks, uncertainties, and other factors which may
cause the actual results, performance, or achievements of WPG to be
materially different from future results, performance or
achievements expressed or implied by such forward-looking
statements. Such factors include, without limitation: changes in
asset quality and credit risk; ability to sustain revenue and
earnings growth; changes in political, economic or market
conditions generally and the real estate and capital markets
specifically; the impact of increased competition; the availability
of capital and financing; tenant or joint venture partner(s)
bankruptcies; the failure to increase store occupancy and
same-store operating income; risks associated with the acquisition,
disposition, (re)development, expansion, leasing and management of
properties; changes in market rental rates; trends in the retail
industry; relationships with anchor tenants; risks relating to
joint venture properties; costs of common area maintenance;
competitive market forces; the level and volatility of interest
rates; the rate of revenue increases as compared to expense
increases; the financial stability of tenants within the retail
industry; the restrictions in current financing arrangements or the
failure to comply with such arrangements; the liquidity of real
estate investments; the impact of changes to tax legislation and
WPG’s tax positions; losses associated with closures, failures and
stoppages associated with the spread and proliferation of the
coronavirus (COVID-19) pandemic; to qualify as a real estate
investment trust; the failure to refinance debt at favorable terms
and conditions; loss of key personnel; material changes in the
dividend rates on securities or the ability to pay dividends on
common shares or other securities; possible restrictions on the
ability to operate or dispose of any partially-owned properties;
the failure to achieve earnings/funds from operations targets or
estimates; the failure to achieve projected returns or yields on
(re)development and investment properties (including joint
ventures); expected gains on debt extinguishment; changes in
generally accepted accounting principles or interpretations
thereof; terrorist activities and international hostilities; the
unfavorable resolution of legal or regulatory proceedings; the
impact of future acquisitions and divestitures; assets that may be
subject to impairment charges; significant costs related to
environmental issues; changes in LIBOR reporting practices or the
method in which LIBOR is determined; and other risks and
uncertainties, including those detailed from time to time in WPG’s
statements and periodic reports filed with the Securities and
Exchange Commission, including those described under “Risk
Factors”. The forward-looking statements in this communication are
qualified by these risk factors. Each statement speaks only as of
the date of this press release and WPG undertakes no obligation to
update or revise any forward-looking statements to reflect new
information, subsequent events or circumstances. Actual results may
differ materially from current projections, expectations, and
plans, if any. Investors, potential investors and others should
give careful consideration to these risks and uncertainties.
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version on businesswire.com: https://www.businesswire.com/news/home/20200928005615/en/
Kimberly A. Green, VP, Investor Relations & Corporate
Communications, 614.887.5647 or kim.green@washingtonprime.com.
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