Flatiron Crossing Mall
Encyclopedia
FlatIron Crossing Mall is a shopping mall
, owned by Macerich Property Group, in Broomfield, Colorado
. The mall is designed to reflect the active, outdoor lifestyle of Colorado. FlatIron Crossing features almost 1500000 square feet (139,354.6 m²) of retail space set in a two-level enclosed shopping mall, and an adjoining 50000 sq ft (4,645.2 m²). outdoor pedestrian shopping plaza called The Village. It contains a sandbox and play area for children, as well as hang-out spots for teens and young adults. In addition to its retail shops, the property maintains 30 acres (121,405.8 m²) of parks landscaped with native plants, streams, waterfalls and trails to enhance the shopping experience. It also features several exterior water attractions: a 30 feet (9.1 m) natural waterfall, and a pond outside the food court.
The mall houses approximately 200 shops and restaurants. Some of the retailers include: Apple Store, Ann Taylor, Banana Republic, Chico’s, Coach, Coldwater Creek
, The Disney Store, Eddie Bauer
, Hanna Andersson, Hollister Co.
, J.Crew
, J. Jill, and Talbots
; beauty retailers like Aveda
, The Body Shop
, and Sephora
; and home furnishings stores such as Crate & Barrel, Pottery Barn
, Pottery Barn Kids, and Williams-Sonoma
.
The Village includes an AMC 14 Theatres
, and a collection of world-class restaurants complimented by an assortment of specialty retailers and cafes.
The specialty coffee Kopi Luwak
is served at some of the more popular restaurants.
in 2000. At the time, it was considered an early adopter for being a new "hybrid"-style mall: enclosed shopping centers attached with large outdoor, open-air pedestrian areas. It also lead in the development for sustainability, making use of the natural environment, using recyclable materials for parts of construction, and being energy-efficient.
The super-regional shopping center also played a key part in the growth of Broomfield
. Numerous other retail and business developments sprung up around the mall; in addition, it brought in millions in sales taxes to boost the city's revenue. In 2001, due to the city's rapid growth and other administrative concerns, Broomfield
was successful in filing for, and becoming the newest and smallest county in the state.
In 2006, management became aware of a problem regarding the land that The Village at the mall was built on; shifting soils underneath the area was causing structural damage to the buildings. Several tenants closed their stores and moved out of the mall over the issue.
A majority stake - 75 percent - of FlatIron Crossing Mall was sold to equity firm GI Partners
in 2009; Macerich received approximately $116 million cash in the deal. As part the joint venture, Macerich continues to manage the mall.
would commit almost $26 million to reimburse Macerich if the project moved ahead. However, the recession delayed this project, and as of 2009, it was put on hold indefinitely.
Many tenant changes are expected in 2011; the mall opened in the year 2000 and 10-year leases are set to expire. Major brands such as McDonald's
and Cinnabon
, as well as other retailer and restaurants, have decided not to renew their agreements. Mall spokesmen have stated that tenant changes are a natural process for shopping centers. However, others believe the mall is on a downtrend; adding to their view is the fact that no replacements have been found for some of the stores planning to close.
Shopping mall
A shopping mall, shopping centre, shopping arcade, shopping precinct or simply mall is one or more buildings forming a complex of shops representing merchandisers, with interconnecting walkways enabling visitors to easily walk from unit to unit, along with a parking area — a modern, indoor version...
, owned by Macerich Property Group, in Broomfield, Colorado
Broomfield, Colorado
The City and County of Broomfield is a prominent suburb and tier of the Denver metropolitan area in the State of Colorado of the United States. Broomfield has a consolidated city and county government which operates under Article XX, Sections 10-13 of the Constitution of the State of Colorado. The...
. The mall is designed to reflect the active, outdoor lifestyle of Colorado. FlatIron Crossing features almost 1500000 square feet (139,354.6 m²) of retail space set in a two-level enclosed shopping mall, and an adjoining 50000 sq ft (4,645.2 m²). outdoor pedestrian shopping plaza called The Village. It contains a sandbox and play area for children, as well as hang-out spots for teens and young adults. In addition to its retail shops, the property maintains 30 acres (121,405.8 m²) of parks landscaped with native plants, streams, waterfalls and trails to enhance the shopping experience. It also features several exterior water attractions: a 30 feet (9.1 m) natural waterfall, and a pond outside the food court.
The mall houses approximately 200 shops and restaurants. Some of the retailers include: Apple Store, Ann Taylor, Banana Republic, Chico’s, Coach, Coldwater Creek
Coldwater Creek
Coldwater Creek is a women's apparel and accessories retailer based in Sandpoint, Idaho, United States. The company was founded in 1984 by Dennis and Ann Pence. Coldwater Creek sells its products in stores, through catalogs and online. The online outlet carries apparel that was featured during...
, The Disney Store, Eddie Bauer
Eddie Bauer
Eddie Bauer Holdings Inc. is a holding company that operates the Eddie Bauer clothing store chain, headquartered in Bellevue, Washington, United States. EBH was formed after Eddie Bauer's former parent company, Spiegel, Inc., went bankrupt in 2003...
, Hanna Andersson, Hollister Co.
Hollister Co.
Hollister Co., sometimes advertised as Hollister or HCo., is an American lifestyle brand by Abercrombie & Fitch Co. The concept was originally designed to attract consumers aged 14–18 through its SoCal-inspired image and casual wear. Goods are available in-store and through the company's online store...
, J.Crew
J.Crew
J.Crew Group, Inc. is a multi-brand, multi-channel, specialty retailer. The company offers an assortment of women's, men's and children's apparel and accessories, including swimwear, outerwear, loungewear, wedding, bags, hair accessories, belts, jewelry, and shoes. As of January 30, 2010, it...
, J. Jill, and Talbots
Talbots
Talbots is a specialty retailer and direct marketer of women’s classic clothing, shoes and accessories. Established in 1947, the company sells items such as the blazer, trench, white shirt, ballet flats and pearls....
; beauty retailers like Aveda
Aveda
Aveda Corporation is a company headquartered in Blaine, Minnesota, that manufactures skin care, cosmetics, perfume, hair care products, and trains students in cosmetology and esthiology at the Aveda Institutes in Minneapolis, New York City, Washington, DC, Vancouver, Calgary, Toronto and many other...
, The Body Shop
The Body Shop
The Body Shop International plc, known as The Body Shop, has 2,400 stores in 61 countries, and is the second largest cosmetic franchise in the world, following O Boticario, a Brazilian company...
, and Sephora
Sephora
Sephora is a chain of cosmetics stores founded in France in 1970 and acquired by Paris-based conglomerate LVMH in 1997. The Sephora chain includes more than 750 stores in 17 countries...
; and home furnishings stores such as Crate & Barrel, Pottery Barn
Pottery Barn
Pottery Barn is an American-based home furnishing store chain with retail stores in the United States, Canada and Puerto Rico. Since September 1986, when it was purchased from GAP, Inc, Pottery Barn is a wholly owned subsidiary of Williams-Sonoma, Inc....
, Pottery Barn Kids, and Williams-Sonoma
Williams-Sonoma
Williams-Sonoma, Inc. is a high-end American consumer retail company that sells kitchenwares, furniture and linens, as well as other housewares and home furnishings, along with a variety of specialty foods, soaps and lotions...
.
The Village includes an AMC 14 Theatres
AMC Theatres
AMC Theatres , officially known as AMC Entertainment, Inc., is the second largest movie theater chain in North America with 5,325 screens, second only to Regal Entertainment Group, and one of the United States's four national cinema chains AMC Theatres (American Multi-Cinema), officially known as...
, and a collection of world-class restaurants complimented by an assortment of specialty retailers and cafes.
The specialty coffee Kopi Luwak
Kopi Luwak
Kopi luwak , or civet coffee, is one of the world's most expensive and low-production varieties of coffee. It is made from the beans of coffee berries which have been eaten by the Asian Palm Civet and other related civets, then passed through its digestive tract. A civet eats the berries for their...
is served at some of the more popular restaurants.
History
FlatIron Crossing Mall was developed by WestcorWestcor
Westcor is a subsidiary of The Macerich Company and owns 18 shopping malls and plazas in the Southwestern region of the United States. It was founded in 1964 by entrepreneur Bob Teske. Headquartered in Phoenix, Arizona, Westcor is Arizona's leading mall developer...
in 2000. At the time, it was considered an early adopter for being a new "hybrid"-style mall: enclosed shopping centers attached with large outdoor, open-air pedestrian areas. It also lead in the development for sustainability, making use of the natural environment, using recyclable materials for parts of construction, and being energy-efficient.
The super-regional shopping center also played a key part in the growth of Broomfield
Broomfield, Colorado
The City and County of Broomfield is a prominent suburb and tier of the Denver metropolitan area in the State of Colorado of the United States. Broomfield has a consolidated city and county government which operates under Article XX, Sections 10-13 of the Constitution of the State of Colorado. The...
. Numerous other retail and business developments sprung up around the mall; in addition, it brought in millions in sales taxes to boost the city's revenue. In 2001, due to the city's rapid growth and other administrative concerns, Broomfield
Broomfield, Colorado
The City and County of Broomfield is a prominent suburb and tier of the Denver metropolitan area in the State of Colorado of the United States. Broomfield has a consolidated city and county government which operates under Article XX, Sections 10-13 of the Constitution of the State of Colorado. The...
was successful in filing for, and becoming the newest and smallest county in the state.
In 2006, management became aware of a problem regarding the land that The Village at the mall was built on; shifting soils underneath the area was causing structural damage to the buildings. Several tenants closed their stores and moved out of the mall over the issue.
A majority stake - 75 percent - of FlatIron Crossing Mall was sold to equity firm GI Partners
GI Partners
GI Partners L.P. is a private equity firm based in Menlo Park, California and London, England.- Description :...
in 2009; Macerich received approximately $116 million cash in the deal. As part the joint venture, Macerich continues to manage the mall.
Future Developments
Mall official announced in 2008 that the mall planned to undergo an extensive renovation, projected to cost $53 million. As part of a deal with the city, BroomfieldBroomfield, Colorado
The City and County of Broomfield is a prominent suburb and tier of the Denver metropolitan area in the State of Colorado of the United States. Broomfield has a consolidated city and county government which operates under Article XX, Sections 10-13 of the Constitution of the State of Colorado. The...
would commit almost $26 million to reimburse Macerich if the project moved ahead. However, the recession delayed this project, and as of 2009, it was put on hold indefinitely.
Many tenant changes are expected in 2011; the mall opened in the year 2000 and 10-year leases are set to expire. Major brands such as McDonald's
McDonald's
McDonald's Corporation is the world's largest chain of hamburger fast food restaurants, serving around 64 million customers daily in 119 countries. Headquartered in the United States, the company began in 1940 as a barbecue restaurant operated by the eponymous Richard and Maurice McDonald; in 1948...
and Cinnabon
Cinnabon
Cinnabon is a chain of American baked goods stores and kiosks, normally found in high-traffic areas such as malls. The company's signature item is a grande cinnamon roll. As of July 2009, over 750 Cinnabon bakeries are in operation in over 30 countries around the world...
, as well as other retailer and restaurants, have decided not to renew their agreements. Mall spokesmen have stated that tenant changes are a natural process for shopping centers. However, others believe the mall is on a downtrend; adding to their view is the fact that no replacements have been found for some of the stores planning to close.
Anchor stores
- Macy'sMacy'sMacy's is a U.S. chain of mid-to-high range department stores. In addition to its flagship Herald Square location in New York City, the company operates over 800 stores in the United States...
- NordstromNordstromNordstrom, Inc. is an upscale department store chain in the United States, founded by John W. Nordstrom and Carl F. Wallin. Initially a shoe retailer, the company today also sells clothing, accessories, handbags, jewelry, cosmetics, fragrances, and in some locations, home furnishings...
- Dillard'sDillard'sDillard's, Inc. is a department store chain in the United States, with 330 stores in 29 states. Headquartered in Little Rock, Arkansas, Dillard's locations are concentrated in Texas and Florida; with a major presence in other states including Arizona, Iowa, Colorado, Wyoming, Kansas, Missouri,...
- Dick's Sporting GoodsDick's Sporting GoodsDick's Sporting Goods, Inc. , or Dick's, is a Fortune 500 American corporation in the sporting goods and retail industries.The company's headquarters are on the grounds of Pittsburgh International Airport in Findlay Township near Pittsburgh, Pennsylvania. Dick's has 451 stores in 42 states as of...
- Ultimate ElectronicsUltimate ElectronicsUltimate Electronics was a chain of consumer electronics stores in Arizona, Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Nevada, New Mexico, Oklahoma, Oregon, Massachusetts, New Hampshire, New York, Texas, Pennsylvania, Utah, and Wisconsin. It is incorporated in the state of Delaware and...
- Forever 21Forever 21Forever 21 is an American chain of clothing retailers with branches in major cities in The United States, Puerto Rico, Canada, Europe, Asia, and the Middle East that offers fashion and accessories for young women and men....
- Lord & TaylorLord & TaylorLord & Taylor, colloquially known as L&T, or LT, based in New York City, is the oldest upscale, specialty-retail department store chain in the United States. Concentrated in the eastern U.S., the retailer operated independently for nearly a century prior to joining American Dry Goods...
(former anchor, closed in 2005)