Flatiron Crossing Mall

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FlatIron Crossing Mall
Flatiron Crossing Village Broomfield.jpg
The Village at FlatIron Crossing Mall
Location Broomfield, Colorado, USA
Coordinates 39°55′59″N 105°07′59″W / 39.933°N 105.133°W / 39.933; -105.133
Address One West FlatIron Crossing Drive, Suite 1083
Opening date 2000
Developer Westcor
Management Macerich
Owner GI Partners
No. of stores and services 198[1]
No. of anchor tenants 4
Total retail floor area 1,467,566 sq ft (136,341.3 m2)[2]
No. of floors 2
Website Official Website

FlatIron Crossing Mall is a shopping mall, owned by Macerich Property Group, in Broomfield, Colorado. FlatIron Crossing features almost 1,500,000 square feet (140,000 m2) of retail space set in a two-level enclosed shopping mall, and an adjoining 50,000 sq ft (4,600 m2). outdoor pedestrian shopping plaza called The Village. It contains a sandbox and play area for children, as well as hang-out spots for teens and young adults. In addition to its retail shops, the property maintains 30 acres (120,000 m2) of parks landscaped with native plants, streams, waterfalls and trails. It also features several exterior water attractions: a 30-foot (9.1 m) natural waterfall, and a pond outside the food court.

The mall houses approximately 200 shops and restaurants. Some of the retailers include: Apple Store, Ann Taylor, Banana Republic, Chico’s, Coach, Coldwater Creek, The Disney Store, Eddie Bauer, Hanna Andersson, Hollister Co., J.Crew, J. Jill, and Talbots; beauty retailers like Aveda, The Body Shop, and Sephora; and home furnishings stores such as Crate & Barrel, Pottery Barn, Pottery Barn Kids, and Williams-Sonoma. The Village includes an AMC 14 Theatres, and a collection of restaurants lumped together with an assortment of specialty retailers and cafes. The specialty coffee Kopi Luwak is served at some of the more popular restaurants.

History[edit]

FlatIron Crossing Mall was developed by Westcor in 2000. At the time, it was considered an early adopter for being a new "hybrid"-style mall: enclosed shopping centers attached with large outdoor, open-air pedestrian areas. It also led in the development for sustainability, making use of the natural environment, using recyclable materials for parts of construction, and being energy-efficient.[3]

The super-regional shopping center also played a key part in the growth of Broomfield. Numerous other retail and business developments sprung up around the mall; in addition, it brought in millions in sales taxes to boost the city's revenue.[citation needed] In 2001, due to the city's rapid growth and other administrative concerns, Broomfield was successful in filing for, and becoming the newest and smallest county in the state.

In 2006, management became aware of a problem regarding the land that The Village at the mall was built on; shifting soils underneath the area was causing structural damage to the buildings. Several tenants closed their stores and moved out of the mall over the issue.[3][4]

A majority stake - 75 percent - of FlatIron Crossing Mall was sold to equity firm GI Partners in 2009; Macerich received approximately $116 million cash in the deal. As part the joint venture, Macerich continues to manage the mall.[5][6]

Future Developments[edit]

Mall official announced in 2008 that the mall planned to undergo an extensive renovation, projected to cost $53 million. As part of a deal with the city, Broomfield would commit almost $26 million to reimburse Macerich if the project moved ahead. However, the recession delayed this project, and as of 2009, it was put on hold indefinitely.[7]

Many tenant changes are expected in 2011; the mall opened in the year 2000 and 10-year leases are set to expire. Major brands such as McDonald's and Cinnabon, as well as other retailer and restaurants, have decided not to renew their agreements. Mall spokesmen have stated that tenant changes are a natural process for shopping centers. However, others believe the mall is on a downtrend; adding to their view is the fact that no replacements have been found for some of the stores planning to close.[8]

Anchor stores[edit]

References[edit]

  1. ^ "Store Directory". FlatIron Crossing Mall. Retrieved 2011-02-15. 
  2. ^ "Leasing Information". Macerich. Retrieved 2011-02-15. 
  3. ^ a b Alicia Wallace (2010-08-08). "Broomfield's boon: FlatIron Crossing mall turns 10". Daily Camera. 
  4. ^ "Shifting Soil At FlatIron Crossing Has Shops Unsettled". The Denver Channel. December 12, 2006. 
  5. ^ "MACERICH AND GI PARTNERS CREATE A NEW JOINT VENTURE" (Press release). Macerich. Sep 3, 2009. 
  6. ^ Paula Moore (September 4, 2009). "Majority stake in FlatIron Crossing mall sold". Denver Business Journal. 
  7. ^ Michael Davidson (October 17, 2008). "Broomfield council OKs $26 million for FlatIron Crossing". Daily Camera. 
  8. ^ Joe Rubino (January 3, 2011). "Broomfield's FlatIron Crossing mall enters 2011 with leasing shakeup". Daily Camera. 

External links[edit]