Centennial Awarded Management Contract for Northridge Mall

DALLAS – December 14, 2022 – Centennial, a real estate investment firm 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 it has been awarded the management contract for Northridge Mall, an enclosed shopping center in Salinas, California, that serves a three-county region in the agriculturally rich Monterey Bay area (https://www.shop-northridge-mall.com). Under the contract, awarded to Centennial last week by commercial real estate investment and advisory firm Steerpoint Capital, Centennial will provide a full spectrum of management, leasing, tenant coordination, marketing and accounting services for the shopping center.

“Big things are happening at Centennial this year, including the expansion of our already strong working relationship with Steerpoint Capital, a firm which advises numerous shopping center owners throughout the nation,” says Stephen White, Executive Vice President, Property Management, Centennial. “In 2022 alone, Steerpoint has awarded Centennial three management contracts, each in California, which has expanded our presence in the Golden State to include properties in both Southern and Northern California.”

Last month, Steerpoint awarded Centennial the management contract for Antelope Valley Mall in Palmdale, California, and earlier this year, Steerpoint also awarded Centennial the management contract for The Shops at Montebello, a modern super-regional enclosed shopping center in Montebello, California. These were not Centennial’s first forays into the California market, however; Centennial also owns and operates Southern California’s MainPlace Mall in Santa Ana and manages Pacific City in Huntington Beach.

“Steerpoint Capital has every confidence in Centennial’s capabilities and looks forward to growing our relationship with this stellar shopping center owner, operator and developer,” says Jon Callegari, Steerpoint Managing Director. “Centennial has proven its expertise in shopping center management, and with its existing foothold in the Southern California market, now is the perfect time to expand both of our portfolios into the Northern California region.”

“Centennial has grown tremendously in the past year, adding both owned and managed properties to its nationwide portfolio,” says Bo Okoroji, Steerpoint Managing Partner. “It has also greatly expanded its talented management and operational teams, adding new in-depth skillsets and capabilities that we want to capitalize on with Northridge and the other shopping center management contracts we have awarded to Centennial this year.”

From strategic merchandising plans to innovative experiential marketing, customized placemaking solutions, community connections and loyalty programs, Centennial has a unique vision for the future of retail real estate that has led to the successful repositioning of retail properties in key markets from coast to coast. The robust full-service platform Centennial has built perfectly positions the firm to help retail real estate owners navigate today’s complex retail market while also planning for future value creation.

In addition to adding the Steerpoint management contracts for Northridge Mall, Antelope Valley Mall, and The Shops at Montebello, Centennial was also awarded management contracts by other third-party entities for MarketFair in Princeton, New Jersey, and The Promenade Shops at Saucon Valley in Center Valley, Pennsylvania, this year.

During the 2022 calendar year, Centennial acquired Fairlane Town Center in Dearborn, Michigan; The Shops at Willow Bend in Plano, Texas; and Westland Mall in Hialeah, Florida. It also grew its owned and managed properties as well as its industry-leading retail real estate skillset through the acquisition of the Bayer Properties operating platform in August, which expanded Centennial’s portfolio from 15 million square feet of owned or managed assets to 23 million square feet of managed properties in 18 states.

About Northridge Mall
Northridge Mall is an enclosed shopping center in Salinas, California, serving a three-county region in the agriculturally rich Monterey Bay area. The center features 130 tenants, including popular retailers such as Macy’s, JCPenney, Best Buy, H&M, Old Navy, Aeropostale, Bath & Body Works and Ulta Beauty; entertainment giants like Cinemark Century Theaters and Round 1 Bowling & Amusement; and a wide array of top-name eateries including Blaze Pizza, Cinnabon, Cold Stone Creamery, Panda Express, and Panera. Located close to some of the area’s top employers in healthcare, logistics, defense, transportation, education and finance, Northridge Mall is conveniently accessed off Highway 101 between Santa Barbara and San Jose. To learn more, visit https://www.shop-northridge-mall.com/ or follow Northridge Mall on Facebook or Instagram.

About Centennial
Centennial is a real estate investment firm 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. Today, the firm operates nearly 25 million square feet of managed properties in 18 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.

About Steerpoint Capital
Steerpoint Capital is a commercial real estate investment management and advisory firm focused on executing value-add and opportunistic real estate strategies. Equipped with capital commitments from a diverse pool of partners, ranging from family offices and domestic and international investment funds, SPC’s current strategy focuses on executing adaptive reuse conversions and retail repositioning opportunities in high demand markets within Southern California and Sunbelt States. Steerpoint was founded in 2022 by Bo Okoroji, former Head of US Investments at Unibail-Rodamco-Westfield (URW), to capitalize on pandemic induced conversion arbitrage opportunities in the Hotel, Office and Retail sectors. For more information, visit Steerpointcapital.com.

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