Peninsula Shopping Center Completes Multi-Million Dollar Redevelopment Welcomed New Stores in 2017
Following an eighteen-month multi-million dollar remodel and expansion, Peninsula Shopping Center announced that it has completed the renovation and welcomed new retailers including Orchard Supply Hardware (OSH), Petco, Ulta Beauty, The Bar Method, AT&T, Verizon, The Habit Burger Grill and Chipotle. In summer 2017, Mod Pizza will open its first location in the South Bay, and will be located next to Habit & Chipotle. The redevelopment increased the Peninsula Shopping Center’s size by 16,579 sq. ft., which included the addition of three new retail/restaurant pads. The changes also featured demolishing the existing pedestrian colonnade and constructing a drive aisle in its place, reconfiguring parking and circulation facilities, creating new junior anchor spaces, improving sidewalks, and installing new soft seating and new monument and wayfinding signage as well as new landscaping.
“Vestar is very pleased with how the community has embraced what we have done to the Peninsula Shopping Center, and are now able to enjoy it and spend more time here,” said Jeff Axtell, Executive Vice President and Regional Manager, Vestar. “By making this investment, Vestar has confirmed its long-term commitment to the community. Vestar is dedicated to maintaining the high quality of what’s really a brand-new center and will continue to seek out retailers that meet the needs of the community including new restaurants and shops.”
The redevelopment gave Vestar the opportunity to re-merchandise the center, which incorporated the opening of several new stores this year including a 37,000-sq.-ft. OSH located near Norris Theater that opened in March. In addition, the renovation provided Inka Wasi the opportunity to move to a new larger location at the center and it will re-open near Wells Fargo this May with a newly designed interior and larger patio. In January, Veritas Academy also opened in a new location across from OSH.
With all the new changes, the center now provides the local community with everything needed to fulfill their daily shopping needs. Peninsula Shopping Center has transformed into a destination for locals to meet their friends and family without having to leave the hill.
We have always real estate looked at Peninsula Shopping Center, the importance of its position within the community, and the entire site in terms of continuing to make it a compelling destination for the local community,” said Axtell. “With Peninsula Shopping Center, Vestar has created a distinctive sense of place that will continue to evolve with the community for generations to come.”
Now that the physical changes, repositioning and rebranding have been completed, the center’s owner and manager Vestar is focused on leasing the remaining spaces.
“We are looking to add complimentary eateries, a sit-down restaurant and more fashion related retail uses,” said Axtell.
As it looks to fill a few remaining spaces, Vestar is being very thoughtful about the tenants it chooses to work with and is selecting brands that match the shopping and dining requirements of its patrons. Patience and careful execution have been key to the success of Peninsula Shopping Center.