Las Catalinas Mall
Las Catalinas Mall logo
LocationCaguas, Puerto Rico
Coordinates18°14′13″N 66°02′24″W / 18.23694°N 66.03997°W / 18.23694; -66.03997
Address400 Betances Ave
Opening date4 December 1997
DeveloperManley Berenson, Yebba Realty Ventures
OwnerUrban Edge Properties[1]
No. of stores and services97
No. of anchor tenants2 (1 open, 1 vacant)
Total retail floor area500,000 sq ft (46,000 m2)[2]
No. of floors1 (2 in the former Sears store)
Parking+3,000
Websitewww.lascatalinasmall.com

Shops at Caguas, formerly known as Las Catalinas Mall, is an enclosed shopping mall located in Caguas, Puerto Rico, United States. The mall opened in 1997, and is currently anchored by a Sector Sixty6 entertainment center which took up space of a vacant Kmart, one of the original anchor tenants of the mall. A former original anchor tenant, Sears, closed their store in February 2021,[3] the anchor space has sat vacant since the closure of the store. The mall is home to the first "Large Premium Format" movie theater in Puerto Rico and second in the Caribbean region at the time of its opening, which is owned and managed by Caribbean Cinemas.[4]

History

Origins

During the 19th century, Las Catalinas Mall’s grounds used to be a sugar producer farm called Hacienda Santa Catalina. Besides from sugar, the Hacienda Santa Catalina also produced rum and cultivated fruits.[5]

1990s-2000s

In April 1997, Vornado Realty Trust announced that it would acquire Kmart's 50% interest in the then called “Caguas Centrum”, which was under construction. The name of the mall would later be changed to Las Catalinas.[6]

On December 4, 1997, being developed by Manley Berenson and Yebba Realty Ventures, Las Catalinas Mall opened with 80 stores and 3,000 spaces of parking. It was anchored at the time by a Kmart Super Center and Sears. It also featured a food court which was named “El Trapiche.” The mall was built with the purpose to serve the surrounding communities, but it grew to become a regional mall.[7][8] On November 4, 1998 Vornado Realty Trust bought Kmart's 50% interest in the mall forming a joined ownership between Vornado and Yebba Realty Ventures. In addition, Vornado acquired 75% and Yebba Realty Ventures acquired 25% of Kmart's anchor store. Vornado's purchase price in total was $38 million dollars.[9]

By the year 2000, the mall had over 100[10] stores of which included Afterthoughts, KB Toys, Zale’s Jewelers, Radio Shack, Payless Shoe Source, Mady’s Hallmark, 5-7-9, Electronics Boutique, Footaction, and many others. At “El Trapiche” it had food places such as a Howard Johnson’s, Kentucky Fried Chicken, Taco Bell, Wetzel’s Pretzels, El Mesón, Hot Potato, and others. It also had a Quiznos Subs at one of the entrances of the mall.[11][12] In the early 2000s, additional land near the mall was developed that would include a Home Depot and Caribbean Cinemas to compliment the mall. The addition of these would help to enhance the position of Las Catalinas as part of a dominant shopping destination.[13]

In December 2001, Amigo Supermarkets announced that they would be opening a location at the mall by summer 2002.[14]

On September 23, 2002 Vornado Realty Trust increased its interest in Las Catalinas to 100% by acquiring the other 50% of the mall from Yebba Realty Ventures and the 25% from the Kmart anchor store. The purchase price was approximately $48 million dollars.[15]

2010s, and on

In April 2012, it was announced that Best Buy, which was located on the premises of the mall, would be closing by May 12 of that year.[16]

In January 2015, Vornado Realty Trust announced it would spin off multiple of its properties, including Las Catalinas, into a new company Urban Edge Properties.[17]

In July 2015, Sears Holdings spun off 235 of its properties, including the Sears at Las Catalinas Mall, into Seritage Growth Properties.[18]

In July 2015, a 13,773 square-foot Forever 21 opened at the mall, being the chains 5th store on the island at the time.[19]

On November 8, 2018, Sears Holdings announced that Kmart would be closing as part of a plan to close 40 stores nationwide. The store closed on January 31, 2019.[20]

On December 28, 2020, it was announced that Sears would also be closing in February 2021 as part of a plan to close 23 stores nationwide which left the mall with no anchors stores.[21]

In February 2021, it was announced that a 22,000 square foot Coast Guard Exchange (CGX) would be opening in the former Office Depot at the mall, it was scheduled to open by summer of that year.[22]

In August 2021, it was announced that a Sector Sixty6 Entertainment Center and a Golden Corral would replace the former Kmart store. They were expected to open by 2022, but got delayed to open on Summer 2023 instead.[23]

In August 2022, a 1,916 square foot Tous store opened at the mall.[24]

In June 2023, it was announced that both a 2,109 square foot Hot Topic store, and a 5,520 square foot Puma store would be coming to the mall. Hot Topic would open that month, being the chains 7th store on the island.[25]

On August 21, 2023, the Golden Corral restaurant would inaugurate to much fanfare.[26]

On October 25, 2023, Sector Sixty6, an entertainment center taking up space in the former Kmart at the mall would officially inaugurate at an investment of $22 million.[27][28]

On November 9, 2023, it was announced by Urban Edge Properties, owners of Las Catalinas Mall, that after 26 years since it’s opening in 1997, it would be changing its name to the Shops@Caguas (Shops at Caguas.)[29]

El Trapiche Food Court

Current Anchors

Outparcels

Former Anchors

Former Outparcels

References

  1. ↑ "Urban Edge Properties Investor Presentation". sec.gov. Retrieved May 25, 2018.
  2. ↑ "Las Catalinas Mall – Caguas, PR - Yebba Realty Ventures" (in Spanish).
  3. ↑ "Sears and Kmart closing more stores. Is your location closing in 2021? See the updated closure list". USA Today.
  4. ↑ "Inauguran hoy primera sala de cine de gran formato". 11 December 2014. Archived from the original on 24 September 2015. Retrieved 22 March 2015.
  5. ↑ "Antigua Hacienda Santa Catalina" (PDF). caguas.gov.pr. 2019.
  6. ↑ "Montehiedra Town Center & Las Catalinas Mall (Caguas Centrum)". The Record. 1997-04-19. p. 11. Retrieved 2023-08-07.
  7. ↑ "Las Catalinas Mall - Información General". 2011-05-10. Archived from the original on 2011-05-10. Retrieved 2023-08-07.
  8. ↑ "Las Catalinas Mall". 2001-03-09. Archived from the original on 2001-03-09. Retrieved 2023-08-07.
  9. ↑ "Press Releases | Vornado Realty Trust". Archived from the original on 2006-03-25.
  10. ↑ "informacion". 1999-08-28. Archived from the original on 1999-08-28. Retrieved 2023-08-07.
  11. ↑ "Listado de Tiendas". 2000-02-08. Archived from the original on 2000-02-08. Retrieved 2023-08-07.
  12. ↑ "trapiche". 1999-08-28. Archived from the original on 1999-08-28. Retrieved 2023-08-07.
  13. ↑ "Las Catalinas Mall". 2001-03-09. Archived from the original on 2001-03-09. Retrieved 2023-08-07.
  14. ↑ "PUERTO RICO HERALD: Amigo To Invest $20 Million In Expansions". 2001-12-11. Archived from the original on 2001-12-11. Retrieved 2023-08-07.
  15. ↑ "Press Releases | Vornado Realty Trust". Archived from the original on 2006-03-25.
  16. ↑ "Best Buy closing Las Catalinas store in Caguas". News is My Business. 2012-04-14. Retrieved 2023-08-08.
  17. ↑ "Vornado Announces Completion of Spin-Off of Urban Edge Properties". www.businesswire.com. 2015-01-15. Retrieved 2023-08-07.
  18. ↑ Corporation, Sears Holdings. "Sears Holdings Completes Seritage Growth Properties Transaction". www.prnewswire.com. Retrieved 2023-08-07.
  19. ↑ Staff, Caribbean Journal (2015-07-26). "Forever 21 Expands in Puerto Rico". Caribbean Journal. Retrieved 2023-08-07.
  20. ↑ "Another 40 Sears, Kmart stores closing: See a list and map". USA Today.
  21. ↑ "Sears and Kmart closing more stores. Is your location closing in 2021? See the updated closure list". USA Today.
  22. ↑ "3rd Coast Guard Exchange store to open in Caguas". News is My Business. 2021-02-19. Retrieved 2023-08-07.
  23. ↑ "Urban Edge properties opening Sector Sixty6, Golden Corral at las Catalinas Mall". 4 August 2021.
  24. ↑ "TOUS abre nueva tienda en Las Catalinas Mall en Caguas". inpuertoricomagazine (in Spanish). 2022-08-18. Retrieved 2023-08-07.
  25. ↑ "Puma, Hot Topic to open stores at Las Catalinas Mall". News is My Business. 2023-06-06. Retrieved 2023-08-07.
  26. ↑ "🤩🎉 ¡Caguas! 🎉🤩 ¿Aún no nos... - Golden Corral Puerto Rico". www.facebook.com. Retrieved 2023-08-23.
  27. ↑ "Así será el centro de entretenimiento Sector Sixty6 en Caguas que ya tiene fecha de apertura". El Nuevo Día (in Spanish). 2023-10-02. Retrieved 2023-10-27.
  28. ↑ "¡HOY es el día! Sector Sixty6 ya está ABIERTO". m.facebook.com. 25 October 2023. Retrieved 2023-10-27.
  29. ↑ "Las Catalinas Mall cambia de nombre". Primera Hora (in Spanish). 2023-11-09. Retrieved 2023-11-09.
  30. ↑ "3rd Coast Guard Exchange store to open in Caguas". News is my Business. 2021-02-21. Retrieved 2021-04-10.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.