Burlington Town Center

Burlington, VT

Challenge

  • The asset was a challenged mall located in an excellent pedestrian street.
  • Sales were below average and several tenants were struggling.
  • Aggressive book value.

Strategy

  • Fully expose the asset to both national and regional buyers that have an emotional connection with the market.
  • Highlight the tremendous opportunity to revamp the anchor at Church and Cherry on the nationally recognized walk street.
  • Provide a buyer with the potential vision to revamp the property into a mix use development as well as cater to the tourist, university and the local customer.
  • Incentivize the local manager to help create the winning story.

Results

  • Created a competitive marketing campaign to drive value and certainty of execution.
  • Leveraged a National and Northeast buyer to drive terms.