Wittmann and Lauren O'Neil, senior real estate analyst, secured the $5.45 million refinancing for Town Green, a 34,730-square-foot specialty shopping center
. Tenants at the fully occupied property include the U.S.
Freed turned stores outward to face the expressway, and remerchandised the property as an open-air specialty shopping center
, according to a company fact sheet.
Originally developed as a traditional grocery-anchored center, the property has transitioned into a specialty shopping center
with emphasis on leisure activities and dining.
As '90s consumers are increasingly confronted with retailers as "wholesalers," wholesalers as "retailers," television channels as a point of purchase, and the catalogs in the evening mail as extensions of the specialty shopping center
, success in the 1990s will be much harder to achieve than in the preceding decade.
The company has also developed more than one million square feet of neighborhood, downtown and specialty shopping centers
Specialty shopping centers
are typically an adaptive use of older and often historical buildings.