Cathie Rowand | The Journal Gazette Parkwest Center is receiving a facelift and a new name – Jefferson Pointe Commons.
Cathie Rowand | The Journal Gazette Parkwest Center is recieving a new facade and name, Jefferson Pointe Commons
Tuesday, December 01, 2015 8:44 pm
Strip mall receiving makeover, new name
Paul Wyche The Journal Gazette
Jefferson Pointe may be the gem of the southwest retail corridor, but Parkwest Center is adding some luster.
Crews are working on an up to $3 million renovation at the strip mall, which sits at Illinois Road and West Jefferson Boulevard, across from Jefferson Pointe. Facade work and other improvements are underway. The mall will be known as Jefferson Commons when construction wraps up in the spring.
New York-based Feil Group is the owner of the 40-year-old retail center. Real estate broker David Stemen of BND Commercial is representing the company.
"Everything is dated," he said of the more than 192,000-square-foot, 17-store shopping outlet. "It was just time for a facelift."
Stemen said it’s important for Jefferson Commons to blend with some of the newer retail destinations in the area.
"With the millennial generation, in particular, you have to be very sensitive to the look and feel of a facility," he said. "They don’t go to places if they don’t think it’s current and relevant."
That strategy is likely behind a $1 million-plus renovation underway at nearby Time Corners. William "King" Offutt is president and chief operating officer of BC Wood, owner of the plaza.
He said Time Corners, founded in 1960, was showing its age. Facade, parking lot and related improvements are continuing. Offutt said he also wanted a more modern appearance to match his retail neighbors.
BC Wood Properties of Lexington, Kentucky, bought the nearly 80,000-square-foot mall last November from Equity Investment Group of Fort Wayne for an undisclosed sum. Allen County assessor records list the property’s value at $3.6 million.
Jefferson Commons and Time Corners each are creating storefronts with earthtone colors. While Parkwest got a new name, Time Corners received a pair of new tenants. Five Guys restaurant and Sola Salon Studio joined the more than 20 retailers at the mall.
Anchors at Time Corners, 5976 W. Jefferson Blvd., are O’Reilly’s Auto Parts, Jamison Meats and Cebolla’s Mexican Grill. Key tenants at Jefferson Commons, 3811 Illinois Road, are Big Lots, Tuesday Morning and Dollar General.
Jefferson Commons adopting the name of the area’s main retail draw isn’t uncommon. Glenbrook Commons plays off of Glenbrook Square, the only enclosed shopping center in northeast Indiana.
Of course, it takes more than a fresh facade to draw customers, which is why Offutt expects Five Guys to generate traffic at Time Corners. Glenbrook Commons created some buzz last year after adding Dunham’s Sports and Burlington Coat Factory to its staple of stores.
Dunham’s opened in the former Linens ’n Things that went out of business in 2008. And Burlington replaced a Steve & Barry’s college apparel store that closed about the same time as Linens ’n Things.