Newburgh Mall - Newburgh, NY

Newburgh Mall, an enclosed regional mall of 340,000 square feet located 55 miles north of New York City, is an example of a successful repositioning and redevelopment project that Charter’s employees executed for a third party client while with a different company. Upon taking up leasing responsibilities in 2004, the property was 30% vacant with a large proportion of month-to-month tenants, while the center struggled due to its small size and lack of national retailers. At the onset, the owners were presented with a strategic leasing plan and cost analysis, and junior anchors, national retailers and alternative users were targeted. Office Depot opened their first location in Orange County with an 18,000 SF store in space that was composed of mostly temporary tenants and some permanent stores. Leasing efforts focused on converting the temporary tenants to permanent leases and relocating the permanent tenants with long term leases. In addition, Children’s Place was approached and opened a successful store in 2007, the first national tenant to open at the mall since 1999. Finally, after identifying and pursuing alternate uses, Hudson Health opened a 5,000 SF location in previously un-built space. The project was stabilized and the occupancy rate was brought to 95% .