NEW ORLEANS, Sept. 15, 2014 /PRNewswire/ -- PMAT Companies, a locally based commercial real estate development company that has completed twenty comprehensive renovation projects on over 2,500,000 square feet of shopping centers across the United States, has recently completed the second phase of a transformational re-development at Algiers Plaza in their hometown of New Orleans.
With the bustling August 21st opening of TJ Maxx, Algiers Plaza, a redevelopment of the former Village Aurora shopping center at the intersection on General DeGaulle Drive and Holiday Drive, has evolved into a 250,000 square foot shopping center anchored by an array of national tenants.
In addition to the beautiful, new TJ Maxx, Phase II includes a first to market Famous Footwear, Payless Shoe Source, and YouFit—a 15,000 square foot national Health Club opening its first location in Louisiana. This complementary mix of fashion retailers and a contemporary full service health club facility combined with the numerous national retail tenants from phase I ensures that the local residents will have numerous shopping and dining options.
In Phase I, the PMAT Companies, brought Ross Dress for Less, Petco, and Burkes Outlet to the undeveloped land adjacent to the existing Winn Dixie; this land had previously been vacant since Winn Dixie's construction in the late 1990's. In conjunction with the addition of these new national tenants, PMAT completed a stunning interior and exterior transformational remodel of the Winn Dixie grocer, and demolished defunct and mostly vacant small tenant space from the 1970's. This demolition allowed PMAT to reconfigure the site to create a beautifully landscape and palm tree lined Grand Entrance with direct access and visibility to the center from General DeGaulle Drive. PMAT also comprehensively renovated the remaining small tenant spaces which now include a first to market Buffalo Wild Wings and a Mattress Firm as counterparts to long-time tenants Jeff's Haberdashery and PJ's Coffee.
PMAT purchased the center with the goal of creating a critical mass of shopping and dining alternatives that would make this main and main intersection the dominant retail center of gravity to serve the local community. With Algiers Plaza, a large Class-A shopping center, now anchoring the trade area and only a few vacant spaces and a Phase III out parcel remaining for development at Algiers Plaza, there is renewed energy in this Algiers community providing momentum from 2014 into the future.
Contact: Benedikt Bolz, 1-504-402-1645, [email protected]
SOURCE PMAT
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