Metrocenter Mall Completes Lease with Rainbow Shops

Leasing activity at Phoenix’s Metrocenter Mall is holding its own in 2013, with more than 55,000 square feet of new leases completed since the start of the New Year and including the most recent major announcement—a 13,327-square-foot lease by Rainbow Shops, one of the fastest growing junior clothing retailers in the U.S. 

Based in New York, Rainbow Shops offers clothing for juniors, plus sizes and children, as well as an extensive shoe collection. It will open its Metrocenter Mall location on August 18. The retailer operates nine other locations in Arizona, and with sister brands 579 and Marianne operates more than 1,000 total locations in 37 states, Puerto Rico and the U.S. Virgin Islands.

“Rainbow is a growing, nationally known tenant that will add a fun new dimension to our mix of existing clothing stores, including Dillard’s, Macy’s, Sears, Aéropostale and Charlotte Russe,” said Metrocenter Mall Senior Vice President of Leasing Anita Blackford. “We’re thrilled to welcome them.”

According to Blackford and Specialty Leasing Manager Jessica Theberge, the mall is in negotiations now with several other national fashion retailers, and hopes to welcome those companies to the mall later this year and into 2014.

Other new mall leases completed by Blackford and Theberge during second quarter include:

  • Denali Contemporary Furniture – 7,457 square feet, opened in June.
  • Vision Mattress Depot – 4,320 square feet, opening in second quarter.
  • International Cancer Advocacy Network – 2,385 square feet, opened in June.
  • Pop Shots Photo – 2,130 square feet, opened in July.
  • All American Burger – 1,043 square feet, opened in July.
  • Cinnabon – 774-square-foot renovation as new company prototype, opening by fourth quarter.
  • Jewelry World – 592 square feet via in-line store and kiosk, opened in June.

These tenants join a 15,000-square-foot Ashley Furniture, 7,166-square-foot Scottsdale International Auto Museum and 1,002-square-foot Metrocenter Arcade, which all opened at Metrocenter Mall during first quarter 2013.

New York-based Carlyle Development Group (CDG) purchased Metrocenter in January 2012, following the mall spending three years in various stages of foreclosure and receivership. Since that time, CDG has established a new on-site leasing and management team that is actively marketing the 1.3 million-square-foot Phoenix retail landmark to new vendors and uses. The goal: to re-establish Metrocenter as a safe, fun, dynamic family destination for shopping, dining and entertainment.

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