YOUNKERS EXTENDS ITS LEASE AT WESTDALE

For Immediate Release                                    For More Information Contact:

Wednesday, March 30, 2016                          Lisa Rowe | lrowe@westdalecr.com | 319.396.0740

 

YOUNKERS EXTENDS ITS LEASE AT WESTDALE

 

            CEDAR RAPIDS, Iowa – Westdale is pleased to announce it has signed a lease extension with Younkers for its 100,000 square foot store.

Younkers has been an anchor tenant at Westdale since the mall opened in 1979. The re-configuration of Westdale site infrastructure is in its final phases, and much of the common area spaces and roadways are scheduled to be completed this summer. As a result, the community will see significant changes to the Westdale redevelopment by the fall of 2016.

“The redevelopment of Westdale will stabilize and revitalize the 36-year-old property, add jobs and serve as an asset to the community,” said Westdale Executive Vice President, Todd Nelson. “We are pleased that Younkers will continue to serve as an important part of our redevelopment, and we thank the Younkers team for their hard work and patience in making this a reality.”

“Younkers has enjoyed serving customers in this community for over three decades and looks forward to continuing as a premier anchor store at Westdale,” commented Steve Byers, Executive Vice President of Stores for The Bon-Ton Stores, Inc., parent company of Younkers. “Customers can look forward to some exciting interior upgrades at Younkers that will take place over the next six months, providing an updated store environment for shoppers.”

“With our existing anchor tenants secured, we will move several junior anchor and specialty retailer deals to completion very soon,” said Lisa Rowe, Vice President, Retail / Westdale General Manager. “These and pending deals will further strengthen our market position and customer draw.”

About Younkers: The Bon-Ton Stores, Inc., with corporate headquarters in York, Pennsylvania and Milwaukee, Wisconsin, operates 267 stores, which includes nine furniture galleries and four clearance centers in 26 states in the Northeast, Midwest and upper Great Plains under the Bon-Ton, Bergner’s, Boston Store, Carson’s, Elder-Beerman, Herberger’s and Younkers nameplates. The stores offer a broad assortment of national and private brand fashion apparel and accessories for women, men and children, as well as cosmetics and home furnishings. The Bon-Ton Stores, Inc. is an active and positive participant in the communities it serves.

About Westdale: Westdale is the former 900,000sf, 72 acre Westdale Mall in Cedar Rapids, Iowa, that is being repositioned as a mixed-use development by Frew Development Group, LLC. Westdale is managed and operated by Westdale CR Ventures #1, LLC, a subsidiary of Frew Development Group. For more information, visit www.westdalecr.com.

About FDG: Frew Development Group, LLC is a private real estate development company based in       Denver, Colorado. For more information, visit www.frewdevelopment.com.

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