Client’s Challenge

 

Although located on one of Maine's most traveled highways, Route 1, adjacent to a successful Hannaford Brothers Supermarket, Wells Plaza in Wells, Maine had been struggling since the bankruptcy and closing of Ames Department Store.

 

KeyPoint Partners’ Response

 

KeyPoint Partners realized that, due to high year-round and seasonal traffic by the center and the lack of a nearby shopping venue, an excellent strategic opportunity existed for a strong department store tenant. KeyPoint Partners's leasing team courted well-regarded Maine department store chain Reny's, who were looking to expand in the southern part of the state, to anchor Wells Plaza. Close to a thousand shoppers lined up for the gala grand opening of the new 32,000 square foot Reny's department store.

 

The presence of Reny’s attracted other strong retailers to the property, including Dollar Tree, which opened a 16,000 square foot store. KeyPoint Partners provided exclusive leasing and property management services for Wells Plaza.