Cross County Plaza
Key Features
Located in West Palm Beach, FL
365,000 sqft.
Cost: $40 Million
Our role: Developer, Leasing, Property Management
Successfully negotiated several new national tenant undervalued leases
Preserved ability for anchor stores to operate during construction
Project Details
Cross County Mall was an existing partially enclosed mall located in West Palm Beach, Florida.
The Swerdlow Group identified the opportunity to purchase the Cross County Mall through its long-standing relationship with K Mart. In addition, relationships with Ross, Just For Feet, Builders Square and AMC were crucial to recapturing space and reconfiguring the center. Cross County Mall was an outdated partially enclosed mall that was largely vacant. It was encumbered by existing below market leases with K Mart, AMC and Ross that provided those tenants with absolute rights over the site plan and any expansion or demolition of the center. These leases were terminated. New leases were negotiated with K Mart and Ross providing for their relocation into new premises at current market rental rates.
Previous developers had failed to obtain the cooperation of K Mart and AMC, which was critical to the reconfiguration of the center. The enclosed mall had to be demolished, preserving the ability for K Mart and Ross to operate in their existing stores while new premises were constructed.