Centennial grew its shopping center portfolio by 53% in 2022

It’s been a big year for Dallas-based mall and shopping center owner-operator Centennial.

During the course of 2022, Centennial purchased Fairlane Town Center in Dearborn, Mich., The Shops at Willow Bend in Plano,Texas, and Westland Mall in Hialeah, Fla. 

In August, it acquired Bayer Properties, the Birmingham, Ala.-based developer of upmarket lifestyle centers.

It was also awarded third-party management contracts for The Promenade Shops in Center Valley, Pa. and The Shops at Montebello in California this year.

Last week’s announcement of  Centennial taking over the operation of Marketfair, an enclosed lifestyle center in Princeton, N.J., makes 2022 the year that the award-winning company grew its portfolio by 53%. What last year was an owned and/or operated base of 15 million sq. ft. now comprises 23 million sq. ft.

“MarketFair is a well-merchandised, sought-after center that retail tenants are vying to join, which makes it an important addition to the Centennial portfolio as well as a milestone achievement in our rapid growth in the Mid-Atlantic market,” said Centennial’s president Whitney Livingston.

Besides Market Fair and The Promenade Shops, the company also manages Marlton Square in New Jersey. From its Mid-Atlantic office near Princeton, Centennial intends to continue its expansion in the region.

Centennial took over MarketFair’s management, leasing, tenant coordination, marketing, and accounting services at the beginning of December. Tenants at the center include Anthropologie, Athleta, Free People, Lovesac, Pottery Barn, West Elm, AMC Theatres, Seasons 52 and Tommy’s Tavern & Tap.