July 10, 2011—SAN JUAN, PR Plaza Las Americas reported the completion of a retail leasing cycle that will result in the addition of three new-to-the market retailers and one important store returning to the market. To the recently announced Victoria’s Secret and P.F. Chang’s restaurant, the company today revealed the forth-coming addition of the noted fashion designer Carolina Herrera’s boutique and the return of the Disney Store. PLAZA management estimates 300 new jobs will be created by these operations, with all four stores open by year-end.
The CH Carolina Herrera boutique, specializing in clothing, accessories and perfumes by the renowned Venezuelan designer, will be located on the second level between JCPenney and Macy’s in 1300 square feet, situated among other exclusive stores such as Hugo Boss, Coach, and Swarovski among others. Disney Store will be located on the first level between Grand Court and JCPenney in approximately 4600 square feet.
“Creating appropriately sized stores and locations for these important tenants required a series of moves which enabled several current tenants to implement their newest concepts, building and right-sizing their stores to their newest footprints which better meet the needs of today’s customer demand,” stated Rafael Ruiz-Comas, Corporate Leasing Director. The stores involved include Marianne, the stores of the GAP Group, and the Footlocker stores.
Marianne has completed their new store and is located next to Lladro near Sears. The GAP Group of stores now show case all of their concepts including Gap, Gap Body, Baby Gap, and Gap Kids is in the remodeled Gap store location. Foot Locker has made a temporary home next to McDonald’s in Plaza’s south mall while their exciting new 15,000 square foot concept store is being built across the mall from Gap. The coming combined Foot Locker store will feature the fresh, newly added concept of “House of Hoops,” which is a “store within a store,” offering exclusively, basketball shoes, clothing and accessories by Nike, Jordan and Converse brands. Finally, Banana Republic will consolidate its operations on the second level of their current store near Macy’s.
“With all of the pieces falling in place, we are initiating a new cycle of negotiations. We are already in conversations with other exciting retailers and expect to bring concepts to Puerto Rico as attractive as the ones being announced today, always keeping with the tradition of bringing the best new stores to our customers. It is satisfying to announce today’s news and the high occupancy levels we have achieved despite what has been a challenging economy,” concluded Ruiz-Comas.