Today, the Co-President of The Mall Of Monroe’s parent company shared his vision for the future of that property with local business people. Anthony Cafaro, Jr. addressed participants at the Investors Luncheon, sponsored by the Monroe County Business Development Corporation. Cafaro described the ongoing process of redeveloping the mall and the land that surrounds it. He noted that “The entire shopping center industry has been in the midst of enormous disruption and transformation. The standard shopping mall of 30 years ago is no longer relevant in communities like Monroe.” Many national retail chains have faced downsizing and bankruptcy, in part, because of crushing debt from leveraged acquisitions and competition from conglomerates such as Walmart and Amazon. “Our vision for The Mall Of Monroe is to attract locally based businesses that specifically cater to the needs of people in the local community. This includes a greater emphasis on entertainment, restaurants, offices, health care & wellness, and other services” Cafaro said.
The Mall Of Monroe currently serves some of those needs, with an eye toward serving even more. Phoenix Theatres is arguably the most technologically advanced cinema facility in the region, drawing movie-lovers from more than 30 miles away. Planet Fitness and River Raisin CrossFit are two of the most popular workout spots in the county. Other new additions coming soon include Monroe City Church, Monroe Community Players, Leviathan Offices, Leviathan Tactics, and Amu & Ani. The Mall Of Monroe’s redevelopment specialists are actively seeking local and regional businesses interested in establishing a presence in the mall by offering economic incentives and flexible lease terms.
The Mall Of Monroe has been serving the people of southeast Michigan since 1988. It is located at 2121 North Monroe Street in Frenchtown Township, Michigan. For more information, visit online at www.themallofmonroe.com. The Mall Of Monroe is owned and managed in association with the Cafaro family of companies, based in Niles, Ohio. One of the nation’s largest privately held shopping center developers, the Cafaro organization has, over the years, developed more than 30 million square feet of commercial real estate in 14 states. For more information, contact Tim Matune at 734-242-9151 or visit www.cafarocompany.com.