The owners of the Shops at Hilltop announced today that the financially struggling mall is slated to become “a robust and all-inclusive Asian-centric shopping and entertainment destination.”
The 77-acre mall, currently home to Macy’s, Sears, Walmart and 24 Hour Fitness, will soon welcome a 35,000-square foot 99 Ranch Market, the largest Asian supermarket chain in the U.S., according to LBG Real Estate Companies, LLC.
In its statement Monday, the owners said the mall would soon experience “culturally-focused remerchandising” to include a new outlet shopping component, food and beverage choices with a particular focus on Asian cuisine, family-friendly entertainment venues, updated community gathering spots, extensive special events programming, major interior and exterior renovations and wayfinding improvements.
The first phase of mall changes is slated to be complete by mid-2019.
Longer-term plans for the property include several limited-use business hotels, a creative, co-working office and medical space, conventional and/or medical office space and a variety of residential uses, according to LGB Real Estate Company.
The shift toward an Asian-centric shopping center aims to reflect changing demographics in the area.
“The Asian community population, currently estimated at 22 percent of The Shops at Hilltop’s primary trade area, is projected to dramatically increase over 10 percent by 2023,” according to the company’s statement.
Said Richard Tunstall, principal at Market Analysis and Research, Inc., “Given the steady growth of the Asian-American population, favorable spending patterns held by the community itself and growing universal appreciation for Asian foods and authentic restaurant experiences, The Shops at Hilltop is poised for East Bay marketplace success with the successful implementation of the strategy.”
David Goldman, managing partner for leasing at LGB Real Estate Companies, said prospective tenants “are confident in our cultural repositioning approach for the new destination.”
“On the leasing front we look forward to continuing to curate and remerchandise The Shops at Hilltop to infuse new and fresh retail, restaurant and unique entertainment concepts into our overall merchandise mix,” Goldman said.