Coldwater Creek, Ann Taylor Loft to open stores at The Avenue of the Peninsula
20 May '06
3 min read
Cousins Properties Incorporated announced two new leases at The Avenue of the Peninsula, a 374,000-square-foot, pedestrian-friendly, open-air specialty retail center on the Palos Verdes Peninsula in Rolling Hills Estates, California.
Women's retailers Ann Taylor Loft and Coldwater Creek have signed leases of 5,701 square feet and 6,000 square feet respectively at the project. The new retailers are taking a portion of the space recently vacated by Saks Fifth Avenue.
Cousins agreed earlier this month to release Saks from its lease obligation at The Avenue in order to make room for the new retailers. Both of the new stores are planning to open this fall.
"Saks Fifth Avenue's decision to close many of its resort-size stores in the United States was a great opportunity for The Avenue of the Peninsula to continue its strategic remerchandising efforts," said Joel Murphy, President of Cousins' Retail Division. "By aggressively pursuing a mutual termination of the Saks lease, we freed up space for two exciting retailers that our customers have been asking for.
"With Ann Taylor Loft and Coldwater Creek, we have added two well-known retailers to the mix and provided our customers with two more reasons to visit The Avenue. In addition, our team is now working on deals with other retailers to fill the remainder of the Saks space," Murphy said.
Over the past six months, The Avenue of the Peninsula has opened approx. 40,000 square feet of new retailers including Equinox Fitness and Spa, The Grand Cafe, Kishmir Boutique and Cafe Ceramic.
marketing@alchempro.com
