Vermont Business Magazine KeyPoint Partners, LLC (KPP) has negotiated a lease with H&M at University Mall in South Burlington, according to Robert Lemons, Managing Partner of the firm. H&M will anchor the mall and anticipates that it will open this first Vermont location just in time for the 2018 holiday season. KPP Vice President of Leasing Don Mace completed the transaction. Target will also open its first Vermont store at UMall this fall.
Aerial view of University Mall. Courtesy photo.
The H&M deal is one of several ongoing initiatives to re-merchandise University Mall and improve foot traffic to the state’s largest enclosed mall, Mace said. KPP recently inked University Mall deals with L Brands for an expansion/relocation of the Victoria’s Secret and Bath & Body Works stores, and an anchor lease with Target, its first in Vermont. The L Brands combination store is anticipated to open in August 2018; Target is slated to open in October.
“Securing H&M was our third major re-tenanting initiative. Victoria’s Secret/Bath & Body Works, Target, and H&M will significantly transform shopping patterns in Vermont and adjacent states”, Mace says. “We still have several additional leasing initiatives in the works which, once completed, will transform University Mall into a powerful shopping destination over the next 12 to 24 months.”
University Mall, located on Dorset Street in South Burlington, is Vermont’s largest enclosed mall at more than 610,000 square feet. University Mall is anchored by Kohl’s, JCPenney, and Sears. Shop space includes more than 80 retailers and restaurants such as Kay Jewelers, American Eagle, Zales, LensCrafters, Auntie Anne’s, Maurices, Zumiez, and many others. Outparcel merchants include Hannaford Supermarket, Party City, Vitamin Shoppe, and People’s United Bank. For complete information about UMall visit http://www.umallvt.com/. For leasing information, visit www.keypointpartners.com.
Headquartered in Burlington, MA, KPP is the region's premier commercial real estate service firm, providing services for more than 25 million square feet of retail, office, and industrial properties. The firm provides services to retailers, property owners, and financial institutions including retail brokerage, investment sales, property & asset management, construction, research, and financing/consulting services. For information about KPP’s Retail Leasing & Tenant Representation services, or to view exclusive listings, visit KeyPointPartners.com.
Source: KeyPoint Partners 2.23.2018