What retail brands should expect from third-party operators
Retail is evolving fast, and that’s exactly where opportunity lives.
At Centennial, we see today’s changing retail landscape as a chance to do what we do best — partner with owners to reimagine what their properties can become. Every center has a story and a community it serves. Our job is to unlock the potential in both.
That mindset has delivered measurable results at Liberty Center near Cincinnati and The Summit in Birmingham. At Liberty Center, more than 140,000 square feet of new leases have been signed since Centennial took on management. Visits are up double digits and specialty leasing revenue has grown more than 40%.
At The Summit, a five-year remerchandising strategy has driven a 35% increase in sales per square foot and welcomed nearly 50 first-to-state brands.
Both properties earned national recognition in Chain Store Age’s 2025 “Top Retail Center Experiences,” a reflection of how thoughtful strategy and hands-on execution create lasting value. But for us, the recognition isn’t the story. It’s proof of what’s possible when you approach every property like you own it.
That’s the Centennial difference: we bring an ownership mindset to every asset we touch, whether we hold the deed or manage it for a third party.
We believe great retail isn’t about who owns it — it’s about how it’s operated. From enclosed malls to open-air centers, our team approaches each property with curiosity, accountability, and care. We start with a clear vision, map out the strategy, and then bring it to life in ways that enhance both experience and value.
We don’t just fill vacancies; we curate energy. When a property offers experiences people genuinely want, they’ll drive past others to get there. That’s what creates longer visits, stronger sales, and more resilient assets.
Centennial’s third-party management portfolio now makes up almost 55% of our total business and is growing!
Operating across 18 states and managing more than 25 million square feet, our goal is simple: To be the partner that owners trust to maximize both potential and performance.
Centennial’s strength comes from how we work:
- Hands-on leadership: Our leadership team is actively engaged with every client. Owners have direct access to decision-makers who care deeply about outcomes.
- Long-term partnerships: We build relationships that last. Many of our clients return because we earn their trust — and deliver results that matter.
- Leasing and merchandising expertise: We know how to fill space with the right mix of brands, balancing national names with distinctive local retailers.
- Integrated platform: Our fully integrated services — from leasing to marketing to operations — streamline the process and amplify results.
- Authentic culture: With a team of just over 300 employees, we remain nimble, transparent, and approachable.
Centennial’s partnership with Lincoln Property Company expands our reach across 36 markets, powering our ability to support owners unlock new value creation opportunities through densification and diversification of existing retail to other asset classes such as residential, hospitality, medical and entertainment.
Going into 2026, Centennial will continue to invest in expanding its third-party business platform.
If you are an owner looking for a fresh perspective, finding new revenue and value creation opportunities or simply wish you had a partner who’s commitment to the asset aligns more closely with their own, Centennial could very well be your next partner to unlock potential and performance!
