Las Catalinas Mall

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Las Catalinas Mall
Las Catalinas Mall logo
Las Catalinas Mall.jpg
LocationCaguas, Puerto Rico
Coordinates18°14′13″N 66°02′24″W / 18.23694°N 66.03997°W / 18.23694; -66.03997Coordinates: 18°14′13″N 66°02′24″W / 18.23694°N 66.03997°W / 18.23694; -66.03997
Address400 Betances Ave
Opening dateDecember 4th, 1997
DeveloperYebba Realty Ventures
OwnerUrban Edge Properties[1]
No. of stores and services97
No. of anchor tenants2 (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

Las Catalinas Mall is an enclosed shopping mall located in Caguas, Puerto Rico. The mall opened in 1997, and is currently anchored by Sector Sixty6 Entertainment Center. A former anchor tenant, Sears, closed their store in February 2021. The store itself sits vacant as of December 2021. [3] 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[]

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]

During construction, the mall was originally named the "Caguas Centrum" shopping center.[6] Las Catalinas Mall opened on December 4th, 1997 with 80 stores and 3,000 spaces of parking. The mall was built with the purpose to serve the surrounding communities, but it grew to become a regional mall. The shopping center is currently owned by Urban Edge Properties, which also owns the Montehiedra Town Center in south San Juan, Puerto Rico.

Las Catalinas Mall's food court, "El Trapiche".

On November 4th, 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.[7]

On September 23rd, 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.[8]

In 2015, Vornado Realty Trust announced it would spin off multiple of its properties into a new company Urban Edge Properties which included Las Catalinas, this made Urban Edge the shopping centers new owner.

In 2015, Sears Holdings spun off 235 of its properties, including the Sears at Las Catalinas Mall, into Seritage Growth Properties.[9]

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.[10]

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 will leave the mall with no anchors left.[11]

In August 2021, it was announced that a Sector Sixty6 Entertainment Center and a Golden Corral would replace the former Kmart store. They're expected to open by 2022.[12]

Current Anchors[]

  • Sector Sixty6 (Coming 2022)

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.{{cite web}}: CS1 maint: url-status (link)
  6. ^ "Montehiedra Town Center & las Catalinas Mall (Caguas Centrum)". The Record. 19 April 1997. p. 11.
  7. ^ "Press Releases | Vornado Realty Trust". Archived from the original on 2006-03-25.
  8. ^ "Press Releases | Vornado Realty Trust". Archived from the original on 2006-03-25.
  9. ^ "At Las Catalinas - Seritage". seritage.com.
  10. ^ "Another 40 Sears, Kmart stores closing: See a list and map". USA Today.
  11. ^ "Sears and Kmart closing more stores. Is your location closing in 2021? See the updated closure list". USA Today.
  12. ^ "Urban Edge properties opening Sector Sixty6, Golden Corral at las Catalinas Mall". 4 August 2021.
  13. ^ "3rd Coast Guard Exchange store to open in Caguas". News is my Business. 2021-02-21. Retrieved 2021-04-10.


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