Twenty Ninth Street Successfully Opens in Boulder, Colo.
November 01 2006 - 10:00AM
PR Newswire (US)
- Several Retailers Break Key Sales Records Opening Weekend -
BOULDER, Colo., Nov. 1 /PRNewswire/ -- Twenty Ninth Street, the new
open-air lifestyle center on the site of the former Crossroads Mall
in Boulder, Colo., successfully opened on October 13, with several
retailers reporting record sales during Grand Opening weekend. The
much-anticipated project, which is the largest commercial
development to emerge in Boulder in more than 40 years, includes
805,000 square feet of gross leasable area on 62 acres in the heart
of this affluent, highly educated community. Twenty Ninth Street is
a new development created by the Westcor division of The Macerich
Company (NYSE:MAC). The development's key phase, the high-energy
Central Neighborhood, opened with nearly 50 fashion, lifestyle and
dining retailers, many of them new to Boulder, including Apple,
lucy, M.A.C., Puma, The Territory Ahead, White House/Black Market,
Z Gallerie and more. In an unusual hybrid combination of uses,
Macy's, Home Depot, Wild Oats natural market and Wild Oats'
corporate headquarters serve as Twenty Ninth Street's anchors. In
addition to retail and office space, Twenty Ninth Street also
includes the potential for residential elements in coming years.
"Boulder shoppers have the ninth highest disposable income in the
entire country, and making sure that we merchandised Twenty Ninth
Street with the right retail mix for this unique community --
including diverse national and local retailers, and new-to-market
stores alongside proven favorites, has always been our goal," said
Bob Williams, senior vice president of development leasing for
Westcor. Early sales reports demonstrate that Twenty Ninth Street's
customized merchandising strategy is already paying off. Several
stores broke key sales records during Grand Opening Weekend,
including lucy, which on Friday exceeded sales projections by more
than 600 percent. "Our store at Twenty Ninth Street had the most
successful single day sales in the company's history," said Mike
Edwards, president and CEO of Portland, Ore.-based lucy. "Twenty
Ninth Street is a perfect fit for Boulder shoppers, who previously
had to drive out of town to get their shopping done. The retail mix
is just right and the architecture is absolutely gorgeous," said
Edwards. Lucy was one of many retailers hand-selected for the
active, outdoor-oriented Boulder market. "The high-energy Central
Neighborhood at Twenty Ninth Street was 85 percent leased at Grand
Opening -- a figure that works perfectly for us," said Williams.
"This allows us to cherry-pick complementary retailers once the
success of the project is clear. And terrific early sales reports
show that our merchandising strategy is, in fact, working well for
Boulder." The Territory Ahead, which opened its first Colorado
location at Twenty Ninth Street, reported that sales during Grand
Opening day exceeded projections by 380 percent. California Pizza
Kitchen set a franchise mark in Colorado on Saturday during Grand
Opening weekend, and Mad Greens, a Colorado-based, salad-oriented
restaurant chain, reported the best opening weekend in the
company's history. Additionally, Papyrus, the 150-store, greeting
card and fine paper concept, reported that Grand Opening Weekend
sales in Boulder exceeded projections by 50 percent. Laudisio, a
new concept from local restaurateurs Antonio Laudisio and Richard
Schaden, also beat opening weekend projections. "Macerich really
got it right at Twenty Ninth Street," said Antonio Laudisio, a
30-year resident of Boulder. "Of course they want great stores and
restaurants, but people in Boulder also want to be able to stroll
and they want beautiful lighting. Even the choice of stone and the
position of the buildings work well. Twenty Ninth Street says,
'this is our town, and this is our mall,'" added Laudisio. Beyond
its eclectic mix of casual to upscale shops and restaurants, Twenty
Ninth Street boasts a feature no other retail center in the country
can claim: The Wonder of Science at Twenty Ninth Street. This
permanent, onsite installation is a compelling series of
large-scale interactive exhibits developed by seven renowned
national science laboratories and institutes, including The
National Center for Atmospheric Research (NCAR), the National
Oceanographic and Atmospheric Administration (NOAA), and the
National Institute of Standards and Technology (NIST), among
others. A 16-screen movie theater with stadium seating and digital
sound is scheduled to open at Twenty Ninth Street in late Spring
2007. The new signature market for Wild Oats, as well as its
corporate headquarters, which is also moving to the site, will open
early in 2007. The first store to open at Twenty Ninth Street was
Home Depot, which began welcoming shoppers in January 2006. The
Macerich Company is a fully integrated self-managed and self-
administered real estate investment trust, which focuses on the
acquisition, leasing, management, development and redevelopment of
regional malls throughout the United States. The Company is the
sole general partner and owns an 84% ownership interest in The
Macerich Partnership, L.P. Macerich now owns approximately 79
million square feet of gross leaseable area consisting primarily of
interests in 73 regional malls. Additional information about The
Macerich Company can be obtained from the Company's web site at
http://www.macerich.com/. DATASOURCE: Twenty Ninth Street CONTACT:
Patti Hazlett of Twenty Ninth Street, +1-303-444-0722; or Kerry
Shelanski of KS Communications, +1-303-864-1368, for Twenty Ninth
Street Web site: http://www.macerich.com/
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