Centennial Awarded Management Contract for Mission Valley Shopping Center

DALLAS – July 27, 2023 – Centennial, a retail real estate owner and operator with a national portfolio of shopping, dining, entertainment and mixed-use destinations as well as a full-service property management platform serving third-party owners (www.centennialrec.com), announced today that Lowe, a Los Angeles-based national real estate investment, development and management firm, together with entrepreneurial real estate investment company Real Capital Solutions, has awarded Centennial the management contract for Mission Valley, which is comprised of the eastern half of what was previously known as Westfield Mission Valley, an approximately 1.1-million-square-foot open air retail center in San Diego, California. Under the agreement, which took effect today, Centennial will provide a full spectrum of management services, including property management, marketing, accounting, and together with Retail Insite, leasing for the property.

“At Centennial, we have an incredibly talented team with a vision for the future of retail real estate that is second to none,” says Whitney Livingston, president of Centennial. “Our success maximizing value for our partners and clients has propelled our growth in recent years. Today, Centennial owns or operates more than 22 million square feet of retail and mixed-use destinations in 15 states. This growth, coupled with our unique ability to reimagine real estate, gives owners like Lowe the confidence to select Centennial for projects like the Mission Valley center.”

As a redevelopment partner at MainPlace, a project now well underway in Santa Ana, California, Lowe was already familiar with Centennial’s extensive management capabilities. “Centennial has managed and repositioned numerous properties throughout the United States, and by working side-by-side with them as their residential partner in the redevelopment of  MainPlace in Santa Ana, we have had a valuable opportunity to become acutely familiar with their vision for retail real estate and their value-driven approach to property management,” says Mike McNerney, Executive Vice President at Lowe. “The exceptional way in which Centennial operates each property in its portfolio, coupled with its expertise in dominant outdoor lifestyle destinations has made Centennial the ideal partner to manage Mission Valley.”

Originally built in 1960, the Mission Valley retail center, set on more than 41 acres in the popular Mission Valley area of San Diego, provides an easily accessible and high-visibility location with direct access to major area thoroughfares, including the I-8, I-805 and Highway 163, and opposite the San Diego Trolley’s Mission Valley Center Station. The center currently offers a mix of approximately 73 shops and restaurants, including popular retailers like Target, Nordstrom Rack, Macy’s Home, Michael’s, Bloomingdale’s Outlet, a 24-Hour Fitness, and a range of dining and entertainment options such as Yard House, Outback, Buffalo Wild Wings and the AMC Mission Valley 20 theatres.

The property’s addition to Centennial’s growing portfolio of owned and managed properties further expands Centennial’s footprint in the Southern California region, which already includes MainPlace in Santa Ana, Pacific City in Huntington Beach, The Shops at Montebello in Montebello, Antelope Valley Mall in Palmdale, and Northridge in Salinas. It also positions Mission Valley to take advantage of the market expertise of Centennial’s regional office in Santa Ana as well as its experienced regional property team.

From strategic merchandising to innovative experiential marketing, customized placemaking solutions, community connections and digital solutions that seamlessly merge the physical and digital shopping experience, Centennial has successfully reimagined retail properties in key markets from coast to coast. The robust services platform Centennial has built – including an in-house property management, marketing, leasing, accounting and development team – perfectly positions the firm to help retail real estate owners like Lowe navigate today’s complex retail market while also planning for future value creation.

The Mission Valley announcement comes on the heels of Centennial being awarded the management and leasing contract for The Shops at North Bridge, a sprawling six-city-block mixed-use destination in the heart of Chicago’s famed Michigan Avenue district, in June of this year. The announcement also expands Centennial’s quickly growing national footprint; to see Centennial’s complete portfolio of owned and managed properties, visit https://centennialrec.com/retail-places/centennial-collection/.

About Mission Valley
Originally built in 1960, the Mission Valley retail center, set on more than 41 acres in the popular Mission Valley area of San Diego, provides an easily accessible and highly visible location at 1640 Camino del Rio North with direct access to major area thoroughfares, I-8, I-805 and Highway 163, and opposite the San Diego Trolley’s Mission Valley Center Station. The center currently offers a mix of approximately 73 shops and restaurants, including popular retailers like Target, Nordstrom Rack, Macy’s Home, Michael’s, Bloomingdale’s Outlet, a 24-Hour Fitness, and a range of dining and entertainment options such as Yard House, Outback, Buffalo Wild Wings, and the AMC Mission Valley 20 theatres.

About Lowe
Los Angeles-based Lowe, formerly known as Lowe Enterprises, is a leading national real estate investment, development and management firm. Over the past 51 years, it has developed, acquired or managed more than $36 billion of real estate assets nationwide as it pursued its mission to build value in real estate by creating innovative, lasting environments and meaningful experiences that connect people and place. Lowe currently has more than $2 billion in commercial real estate projects in the pipeline or under development. In addition to its Los Angeles headquarters, Lowe maintains regional offices in Southern California, Northern California, Charleston, Denver, Seattle, and Washington, DC. For more information, visit www.Lowe-RE.com.

About Real Capital Solutions (RCS)
Real Capital Solutions is a highly entrepreneurial real estate investment company pairing active capital with an emphasis on street level solutions. As an active investment management company, we source value-add, opportunistic, development and longer term hold investment opportunities in a variety of markets. RCS is a solutions-oriented real estate company that focuses on acquisitions, development, management and sales for highly complex and structured real estate opportunities. With 35 years of operational and real estate expertise, we have delivered returns that are in the top 5% of private equity real estate firms in the US. To learn more, visit https://realcapitalsolutions.com/.

About Retail Insite
Retail Insite is a boutique commercial real estate firm with a passion for retail and people. Since 1996, they’ve partnered with the best retailers and property owners in Southern California. For more information, visit https://retailinsite.net/.

About Centennial
Centennial is a retail real estate owner and operator with a national portfolio of shopping, dining, entertainment and mixed-use destinations as well as a full-service property management platform serving third-party owners. With over 300 employees nationwide, the firm now operates more than 22 million square feet of mixed-use destinations in 15 states. Since 1997, Centennial has played a pivotal role in shaping the evolution of American retail by creating a superior multi-faceted shopping experience with properties that serve not only as a place of commerce, but as a place of community. For more information, visit CentennialREC.com.

Media Contacts:
Deborah Blackford
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Karen Franse
Blackford & Associates
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Carmen Herlihy
Blackford & Associates
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