While Park Lane Mall spiraled into a clutter of marginal shops surviving on month-to-month leases before it was sold this year, neighboring Shoppers Square continues to upgrade and expand.
Its owner expects to open another 65,000 square feet of retail in early 2008.
Three years ago, the center added 22,000 square feet to house half a dozen new merchants. The first major renovation came in 1977 when a second floor was added and the center was enclosed. Ten years ago, the center underwent an $11 million facelift.
"We're looked upon as a strong retail contender in our neighborhood," says Ralph Casazza, president and chief executive officer of Shoppers Square owner Tore Ltd.
And, although M&H Realty Partners, the developer that plans to raze Park Lane Mall, speaks so far only in general terms of its redevelopment plans, Casazza says, "I don't believe the changes will hurt us. We hope it will help us."
The Shoppers Square expansion project will raze 22 old houses on Casazza Drive along with the annex, a line of shops marking the east end of the center.
Situated just a mile south of downtown, the commercial area at Plumb Lane and Virginia Street is part of a Reno redevelopment district.
Architectural renderings have not been completed, and a contractor has not been determined, says Casazza.
However, the look of the one-story building will tie in with the existing center, he adds. And the center is courting brand-name major retailers.
The expansion will break ground next May, says Rick Casazza, treasurer of the family-owned company, and tenant move-in is planned for early 2008.
"It's one of the finest pieces of property in Reno. Strategically, it serves a very big area," says Rick Casazza.
With 50 stores and seven restaurants, "We're 96 to 97 percent leased," says the elder Casazza. "Retailers do well here."
Rick Casazza, who also works as a senior vice president of retail properties at Colliers International, will handle leasing of the new space, along with Roxanne Stevenson, a senior vice president in the Colliers International retail group.
