Brazos Mall to Receive a $25 Million Facelift

Lake Jackson, TX (February 10, 2017) – Centennial Real Estate Company (“Centennial”) and Atlantic Creek Real Estate Partners, LLC (“Atlantic Creek”) are pleased to announce a $25 million redevelopment project for Brazos Mall in Lake Jackson, TX. Centennial and Atlantic Creek, which acquired Brazos Mall in October 2015 along with their partner, The North Shore Properties Group, have begun the redevelopment and renovation of the mall. The first phase is slated for completion in the fall of 2017.

The former Sears store that closed in July 2016 is being redeveloped to accommodate an exciting new retail lineup. T.J. Maxx and HomeGoods will join the existing tenants at Brazos Mall. Scheduled to open in October 2017, both brands are tailored to the contemporary-conscious consumer that has long been associated with Brazos Mall.

Improved interior flooring, new soft seating, energy-efficient lighting, a modernized food court, new color schemes and a new logo are all part of the cosmetic and functionality upgrades coming to the new Brazos Mall. The company is also proud to acknowledge how this comprehensive

renovation will bring the 41-year-old mall firmly into the 21st century and align with the company’s SEE Centennial sustainability program.

“When we acquired this property just over a year ago, we knew its incredible real estate potential and began to carefully craft these exciting revitalization plans,” says Oliver Robinson, Centennial’s Executive Vice President of Asset Management. “Our plans received an overwhelmingly positive response from retailers in the mall, as well as from the local community and the City of Lake Jackson, which has been a great partner. We are looking forward to getting our new retail partners open this fall and to unlocking the potential of Brazos Mall.”

This news coincides with a significant rise of private and public local investments, which makes the Brazos project a very complementary development for the region. Among the new investments reported by various sources are a 900,000 square-foot Dow Chemical office in Lake Jackson that will employ 3,500 people; a $14 billion Freeport LNG facility in Quintana that will bring along 3,500 jobs; and a $600 million BASF plant in Freeport. In addition, the local Lake Jackson government is committed to expanding the infrastructure and capabilities of the town to sustain forecasted population growth.

With this revitalization and rebranding, Brazos Mall will join other shopping malls in the owners’ “Centennial Collection” to capture the excitement of the new retail experience that has evolved over the last several years. With a portfolio of eight regional malls, Centennial Collection is committed to serving their local communities both as family and friend destinations for shopping and dining, and as beacons of community outreach and sustainability initiatives.

About Brazos Mall

Brazos Mall, located 52 miles south of Houston, TX in the town of Lake Jackson, is the only major enclosed regional mall in Brazoria County. With 681,000 square feet of retail, Brazos Mall is home to over 70 specialty retailers, as well as several anchors including Dillard’s, J.C. Penney and AMC Cinema.

About Centennial Real Estate Company

Centennial Real Estate Company is a real estate company specializing in the investment, development, management and operation of retail properties including community shopping centers, enclosed malls and urban mixed-use areas. Founded in 1997, Centennial is deeply rooted in retail and focuses on revitalizing assets to create dynamic community-focused shopping, dining and entertainment experiences. For more information, visit centennialrec.com.

About Atlantic Creek

Atlantic Creek, with offices in New York, NY, Palm Beach, FL, and Los Angeles, CA, targets direct and joint venture investments in opportunistic and value add office, retail, and multi- family commercial real estate primarily located on the East and West Coasts of the U.S., Texas

and other select U.S. markets. For further information on Atlantic Creek, please visit www.atlanticcreek.com.

 

Media Contacts:

Kate Sirignano, Image Marketing Consultants 860-863-5861, Kate@imagemarketingconsultants.com

Colleen Heydon, Centennial Real Estate Company 714-559-6521, Cheydon@centennialREC.com