The Right Solution
Faced with a dynamic market and a dynamic center, Westfield had to expand its Westfield Shoppingtown Franklin Park in Toledo.

What do you do when you have an under-retailed market and a dynamic center? Do you rest on your laurels? If you're Westfield, you get creative and figure out a way to add on to the center before someone else enters the market and gives the community the stores that they want. Such was the case at the company's Westfield Shoppingtown Franklin Park in Toledo, Ohio.

A rendering of the revitalized Westfield Shoppingtown Franklin Park.

“We saw good opportunity in Franklin Park,” says John Schroder, Westfield's co-chief operating officer. “It was a very solid center and, realistically, the focal point of retailing for the greater Toledo market.”

Franklin Park was strong indeed — sales per square foot at the 1 million-square-foot center were $471 — but it could have been better, says Schroder. Franklin Park had a vacant Jacobson's department store. Existing anchors Dillard's, Marshall Field's and JC Penney were all doing well. Dillard's was doing so well, in fact, that it wanted to expand. Westfield bought the old Jacobson's department store for future expansion. In the meantime, it agreed to expand Dillard's store to 192,000 square feet.

For the expansion, Westfield employed its Hy-Style concept and approach, adding an open-air lifestyle and entertainment component to Franklin Park.

“It was exactly what the Toledo market was crying out for,” says Schroder.

Westfield opened the $117 million renovation and expansion early last month. That figure doesn't account to the investment that retailers at the center are making in their stores.   Upon opening, Westfield Franklin Park grew to 1.3 million square feet. The expansion component added an 83,000-square-foot 16-screen theater operated by National Amusements, a net increase of 80,000 square feet to Dillard's, 35 specialty shops in 84,000 square feet, 29,000 square feet of exterior lifestyle stores and 35,000 square feet of dining.   Also added is a food court with more than 700 seats, several full-service restaurants, two multi-level parking garages including rooftop parking and a new mini-anchor: a 75,000-square-foot two-level Dick's Sporting Goods store.    Among the new amenities in the new wing: a new Westfield Family Lounge, soft seating, a fireplace and wireless Internet.

“The way that master plans are evolving for malls is to integrate elements of off-mall retailing and off-mall restaurants, as well as lifestyle components into the mall,” says Schroder. “It's the way the market is heading.

A 22,000-square-foot Borders Books & Music will be the first store for that retailer in Toledo. Other retailers new to the market at the expansion include Build-A-Bear Workshop, Coach, Charlotte Russe, Aldo, Pottery Barn, Williams-Sonoma, Steve Madden, Hollister, Swarovski, Mimi Maternity, Journeys, Champps Americana, Claddagh Irish Pub, Brookstone, Forever 21 and Bravo Cucina Italiano.

“The Pottery Barn and Williams-Sonoma stores are together more than 20,000 square feet,” says Schroder. “It is quite a vote of confidence for the Toledo market to have these retailers open large-format stores at the center.”

What's driving all these retailers to Toledo?

“The opportunity hasn't been there,” says Schroder. “Franklin Park was as good as it gets in terms of performance. Market demand had exceeded market supply and there wasn't a facility in the market that could cope with the demand. Secondly, Toledo is a bigger and stronger market than people think.”

To create its master plan for the renovation and expansion, Westfield looked at all the ingredients that every retailer it thought wanted to come to Toledo would want. That called for integrating mall with a lifestyle and entertainment precinct. Westfield already knew that Franklin Park had the right location.

The renovation and expansion will opens in phases, with the first stage opening last month. That phase included Borders, Dick's Sporting Goods, Cinema Deluxe, the new interior retail that goes through the old Jacobson's department store and some new eateries.   The remaining balance is to open progressively throughout the summer and fall, including the open-air portion of the center, the renovation of the food court and mall interior areas. By the end of the year, the center will be fully opened and 100 percent leased.

In the weeks prior to the initial opening in May, Westfield was getting incredible excitement from the Toledo market.

“With the new elements that we're adding, the center is going to go gangbusters,” says Schroder.

Now that Westfield has a better offering for the market, you think it would be satisfied.

“We're not stopping there,” says Schroder. “We're already looking at what we can do next.”

— Randall Shearin


©2005 France Publications, Inc. Duplication or reproduction of this article not permitted without authorization from France Publications, Inc. For information on reprints of this article contact Barbara Sherer at (630) 554-6054.