Jump to content

Plaza Carolina

Edit links
From Wikipedia, the free encyclopedia

This is an old revision of this page, as edited by 2600:1700:5560:4750:e4f6:5c44:34a8:58da (talk) at 13:52, 24 August 2023 (→Former stores). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

Plaza Carolina
Map
LocationCarolina, Puerto Rico
AddressFragoso Avenue
Opening date1978
DeveloperPlaza Carolina Associates
ManagementAnthony Clementi
OwnerSimon Property Group
ArchitectEduardo Molinari
No. of stores and services161
No. of anchor tenants8 (7 open, 1 vacant)
Total retail floor area1,158,121 sq ft (107,593.0 m2)
No. of floors2 plus 3rd floor offices
Websitesimon.com/mall/plaza-carolina

Plaza Carolina is an enclosed shopping mall located in Carolina, Puerto Rico. Anchored by JCPenney, TJ Maxx, Caribbean Cinemas, Burlington and Forever 21, it features 161 stores, making it the second largest mall in Puerto Rico and the Caribbean.[1][a][b] It also has a food court in its second floor and several offices in its third floor.

History

Starting development as early as 1972 and being scheduled for completion by 1976, it was estimated to generate at least $75 million dollars in retail sales annually during its first 3 years of operation and over $100 million thereafter.[4] The mall was developed and was owned at the time by Plaza Carolina Associates, a coordinated project between General Growth Properties and IBEC. Eduardo Molinari was the architect for the project.[5]

First having a soft opening with its anchors on the 9th, the mall finally opened on October 11th, 1978.[6] It opened with more than 100 stores, including 3 anchor stores, and parking for 5,000 cars.[7] Its 3 main anchor stores at the time were, Sears, JCPenney, and a González Padín. Later on, also having a 36,700 square foot Woolworth and a 26,379 square foot Tiendas Capri.[8]

File:Plaza Carolina Aerial in 1978.jpg
Plaza Carolina Aerial from 1978

On September 28th, 1979,[9] a 2-level, 65,000 square foot Velasco department store opened at the mall.[10] It was supposed to be a success for the chain, but it was unsuccessful. The store was located in an area of families with modest means, and its high prices were not compatible with the economic situation of the time, which caused low sales. The store announced its closure on August 26th, 1981.[11] It was liquidated and closed by August 29th, 1981.[12] The first level of the store was turned into what is now known as the food court in the mall “La Plazoleta”, and the second level of the former store was turned into office space. One of the very first spaces to open at La Plazoleta was a Tex Critter’s Pizza Jamboree restaurant, the first for the chain out of the United States.[13]

In 1982, in sales per square foot it was among the first 10% of mall-type shopping centers in the entire United States. It had never gone through any economic problems since it had opened its doors; it had always increased sales one year above the other by that point.[14]

In December 1989, it was announced that the mall would be undergoing a massive renovation to begin by January 1990. EQK Partners which had acquired the mall a year earlier planned these renovations to be completed by November 1990. Costs for these ambitious renovations were said to go over $7 million dollars, with around 200 construction workers working on the massive project. This renovation included a full facelift for the mall, with new entrances, a new fountain, and a new color scheme, among many other things.[15]

On November 15th, 1990, Plaza Carolina was officially re-inaugurated after the $7,000,000 renovations. Among the changes, Richard Gelber, architect of the Shapiro, Petrauskas and Gelber company, in charge of the remodeling of the center, indicated that new colors were used on facades to reflect the tropical environment of the island. New entrances were created with glazed ceramic tiles, pink stucco, diagonal candle-shaped walls, and neon lights that illuminate the interior and exterior of the center. They also installed skylights in the ceilings over the central areas with a lattice to let in natural light. In addition, a fountain surrounded by tropical plants was built in the central area that could be covered and become a stage for special events, since it had seats for the public placed in the form of an amphitheater. Another aspect of the decoration included the installation of glazed tiles topped with shiny metal and neon bands on the corridor columns. The marketing director of Plaza Carolina, Josefina Cantellops, on the other hand, pointed out that several activities have been coordinated for the general public in order to celebrate this reopening. During this time the mall had a total of 1.1 million square feet of retail space with 170 stores, it was primarily anchored by JCPenney, Sears, González Padín, Woolworth, Tiendas Capri, and a Pueblo Xtra.[16]

File:Plaza Carolina Before Renovations.jpg
Plaza Carolina's center court showcasing 1990 renovations in 2003

In October 1995, González Padín ceased operations after a failed buyout by the retailer Dillard's which was supposed to save the department store but for unknown reasons the deal never happened, causing the permanent closure of Gonzalez Padin.[17] Over the passing years the former space of Gonzalez Padin was subdivided into a mall entrance, and a Forever 21.

In October 1998, under the Lend Lease Corporation an agreement was made with LaSalle Partners Incorporated to acquire from Lend Lease the then current owners of the mall Compass Retail Management and Leasing operations for an estimated $180 million dollars with provisions for an earnout payment of up to $77.5 million dollars over 5 years, of which Plaza Carolina was included.[18]

In 1999, the mall got a $25 million expansion and renovation which added over 60,000 square feet in retail, a 12-screen CineVista Theatres, and a 510,000 square foot parking deck.[19]

In May 2004, Simon Property Group, Inc. completed its %100 interest from LaSalle Partners Incorporated in Plaza Carolina for $309 million dollars. At the time the mall had maintained a 98% average historical occupancy rate over the last 5 years, generating total annual sales of approximately $275 million and sales per square foot of over $450.[20]

In January 2008, the CineVista Theatres shuttered due to bankruptcy.[21] Later in May 2017, it was announced that a new Caribbean Cinemas would be opening in Spring 2018, bringing the mall back to having a cinema.[22] Caribbean Cinemas previously operated a movie theater at the mall from 1997 until 1998, when it closed to move to a new location in Plaza Escorial.

In January 2009, the McDonald's, which was located in La Plazoleta, closed.

In Spring 2011, Simon Property Group, Inc. announced that Plaza Carolina, a major shopping destination for 33 years, would be completely renovated beginning the Spring of 2011. Said mall renovations would include new interior and exterior features and amenities such as additional seating, updated restrooms, redesigned mall entrances, landscaping, flooring, and lighting. Said renovations were completed by 2012.[23]

Plaza Carolina After Renovations

In 2014, Sports Authority and Men's Wearhouse were opened.[24]

In 2015, a new restaurant opened in the food court called La Parrilla Argentina. Also in 2015, Sears Holdings spun off 235 of its properties, including the Sears at Plaza Carolina, into Seritage Growth Properties.

In 2016, Sports Authority closed after only two years in operation due to bankruptcy.[25]

On September 20, 2017, the mall was heavily damaged by Hurricane Maria when it struck Puerto Rico, leaving the mall in critical conditions. The mall was later repaired [26]

In January 2020, it was announced that Best Buy would be closing on February 28, 2020, as they decided to not renew their lease.[27]

On December 23, 2020, it was announced that Sears would also be closing as part of a plan to close 23 stores nationwide. The store closed in February 2021.[28]

In early 2020, DSW Designer Shoe Warehouse was closed at the mall for unknown reasons.

In October 2021, a Burlington opened in the former Best Buy.[29]

Current anchors

Former stores

See also

Notes

  1. ^ Kantrow (2012) "Plaza Carolina, Puerto Rico and the Caribbean’s second-largest mall..."[2]
  2. ^ Ryan (2011) "...Plaza Carolina,the island’s second-largest shopping center..."[3]

References

  1. ^ Reserved., Simon Property Group, L.P. and/or Its Affiliates (NYSE: SPG), © Copyright 1999-2018. All Rights. "Do Business at Plaza Carolina, a Simon Property". Business Simon. Retrieved 19 May 2018.{{cite web}}: CS1 maint: multiple names: authors list (link) CS1 maint: numeric names: authors list (link)
  2. ^ Kantrow, Michelle (November 16, 2012). "Plaza Carolina completes most renovations, welcomes new tenants". News Is My Business. Retrieved 27 August 2013.
  3. ^ Ryan, Frances (January 20, 2011). "Plaza Carolina to undergo multimillion-dollar renovations". Caribbean Business. Retrieved 27 August 2013.
  4. ^ "Plaza Carolina". The Miami News. 30 October 1972. p. 10.
  5. ^ "El Mundo 1978.03.11 — Archivo digital de El Mundo". gpa.eastview.com. Retrieved 2023-07-21.
  6. ^ "El Mundo 1978.10.08 — Archivo digital de El Mundo". gpa.eastview.com. Retrieved 2023-07-21.
  7. ^ "Plaza Carolina". The Miami News. 30 October 1972. p. 10.
  8. ^ a b c Directory of major malls. MJJTM Publications Corp. 1990. p. 553.
  9. ^ "El Mundo 1979.09.27 — Archivo digital de El Mundo". gpa.eastview.com. Retrieved 2023-07-20.
  10. ^ "El Mundo 1979.09.12 — Archivo digital de El Mundo". gpa.eastview.com. Retrieved 2023-07-20.
  11. ^ "El Mundo 1981.08.26 — Archivo digital de El Mundo". gpa.eastview.com. Retrieved 2023-07-20.
  12. ^ "El Mundo 1981.08.27 — Archivo digital de El Mundo". gpa.eastview.com. Retrieved 2023-07-20.
  13. ^ "El Mundo 1982.08.26 — Archivo digital de El Mundo". gpa.eastview.com. Retrieved 2023-07-20.
  14. ^ "El Mundo Digital Archive". gpa.eastview.com. Retrieved 2023-07-20.
  15. ^ "El Mundo 1989.12.16 — Archivo digital de El Mundo". gpa.eastview.com. Retrieved 2023-07-21.
  16. ^ "El Mundo 1990.11.16 — Archivo digital de El Mundo". gpa.eastview.com. Retrieved 2023-08-08.
  17. ^ "Gonzalez Padin Closes". El Nuevo Herald. 31 October 1995. p. 12.
  18. ^ "Lend Lease Announcements". Archived from the original on 30 April 2001.
  19. ^ "Archived copy" (PDF). www.am.joneslanglasalle.com. Archived from the original (PDF) on 13 July 2003. Retrieved 12 January 2022.{{cite web}}: CS1 maint: archived copy as title (link)
  20. ^ "Home". www.corporate-ir.net. Archived from the original on 24 July 2004. Retrieved 12 January 2022.
  21. ^ "Recordando grandes cines de Carolina".
  22. ^ "Caribbean Cinemas to open in Plaza Carolina mall in '18". 17 May 2017.
  23. ^ "Simon Property Group". www.simon.com. Archived from the original on 1 September 2012. Retrieved 12 January 2022.
  24. ^ "Plaza Carolina, Puerto Rico (Carolina) - hours, store directory". Malls and Stores. Retrieved 19 May 2018.
  25. ^ O'Neill, Maggie (3 March 2016). "Here are the Sports Authority stores that are closing". Money CNN. Retrieved 19 May 2018.
  26. ^ "¿Qué pasó con Plaza Carolina?".
  27. ^ "Best Buy cerrará sus puertas en Plaza Carolina". 2 January 2020.
  28. ^ "Sears and Kmart closing more stores. Is your location closing in 2021? See the updated closure list". USA Today.
  29. ^ "Burlington inaugurará el viernes, 15 de octubre, su nuevo local en Plaza Carolina". El Nuevo Día (in Spanish). 2021-09-27. Retrieved 2023-07-21.
Retrieved from "https://en.wikipedia.org/enwiki/w/index.php?title=Plaza_Carolina&oldid=1172027171"