BURLINGTON, MA— KeyPoint Partners, LLC (KPP) the Burlington, MA-based commercial real estate service firm, announced that Target and H&M held grand openings at University Mall (UMall) in South Burlington, Vermont – the first in the state for both prestigious retailers.
The new Target store occupies a prominent 60,000 square foot anchor space formerly occupied by The Bon-Ton. KPP Vice President of Leasing Don Mace negotiated the leases. KPP manages and leases UMall on behalf of the owner.
Over a year ago KeyPoint Partners announced an ambitious plan to revitalize University Mall, and the South Burlington retail market, with major new tenants. The plan was successfully implemented with the opening of Vermont’s first Target and H&M stores.
KPP also recently negotiated a lease with L Brands to relocate and expand the Victoria’s Secret and Bath & Body Works stores, and a lease with Shoe Dept. to open its Encore format. New pylon signage has been installed on the property, and additional enhancements are in the works, including a plan to implement a modern Food Hall concept incorporating local food vendors and products.
“H&M and Target openings were extremely successful events at the mall. Customers throughout the state responded very well to both openings, and traffic to the mall has been incredible,” says Mace. “We’re very pleased with the revitalization efforts to date, and have many more in store.”
UMall, located on Dorset Street in South Burlington, is Vermont’s largest enclosed mall at more than 610,000 square feet. UMall is anchored by Kohl’s, JCPenney,, and Sears, and includes more than 80 retailers and restaurants such as Charlotte Russe, American Eagle, Zumiez, Christopher & Banks, Applebee’s, and many others. Outparcel merchants include Hannaford Supermarket, Party City, Vitamin Shoppe, and People’s United Bank.