Lewis Retail Centers all in all has a good year. Despite the ongoing pandemic, the retail company has seen momentum in the retail market, particularly with new build projects. This includes opening a new grocery store, building a new anchor tenant, and expanding the center.
“Our company has extensive experience developing shopping centers that perform well at all stages of the business cycle. As one of the largest mall developers in California and Nevada, we have 34 existing centers and more than 10 new projects underway. Put simply, we know what works regardless of the business climate. " Randall W. Lewis, EVP for Marketing at Lewis Retail Centers, says GlobeSt.com.
While there is increased risk and market uncertainty during the pandemic, Lewis has focused on his location-based strategy to stay active in 2020. specific dates and positioning of our tenants and our centers for short and long term performance, ”says Lewis. With this strategy, our grocery store-based centers, casual food concepts and our other needs-based tenants have continued to perform well throughout the pandemic. We also study underserved categories within a given region so we can deliver what is needed in those markets. "
The marketplace in Calimesa, Riverside County is one of the company's recent projects and a great example of the strategy. "This center, which has had no competition for several miles, is anchored by a Stater Bros. market and also contains Starbucks and Del Taco, followed by Cold Stone Creamery, Jack in the Box and several personal care service retailers." says Lewis. “The center has responded to the pent-up demand that has generated high traffic from the moment each of our first tenants opened. This is a very good sign of the continued health of this new center. "
The activity did not slow down. Lewis recently laid the foundation stone for a 62,000 square foot safeway in downtown Damonte Ranch in Reno, Nevada. "This is a growing submarket with close to 20,000 households in close proximity, which means that the demand for a large grocery store in this region will only increase," says Lewis.
As the company pushes new projects forward, it continues to conduct thorough due diligence to hedge against the new market environment. "All of our recent activities are based on an informed interpretation of critical data and an awareness of the needs of consumers in each market so that we are ready to meet those needs in a timely manner," says Lewis.
