…into Successful Redevelopment Practices in the Shopping Center Industry at ICSC Upcoming Meeting
Nationally respected commercial real estate investor, developer and leader Terry Tallen, founder and CEO of Tallen Capital Partners (TCP) joins a veteran commercial real estate panel at ICSC@Monterey, March 25-27, to offer insights and action plans in today’s quickly changing shopping center and regional mall economy.
SAN FRANCISCO, March 21, 2024 /PRNewswire-PRWeb/ — Nationally respected commercial real estate investor, developer and leader Terry Tallen, founder and CEO of Tallen Capital Partners (TCP) joins a veteran commercial real estate panel at ICSC@Monterey, March 25-27, to offer insights and action plans in today’s quickly changing shopping center and regional mall economy. Evolving Retails Environments & Experiences: Redevelopment and Transformation of Shopping Centers and Malls takes place Tuesday, March 26, at 2pm, in the DeAnza Ballroom, Monterey Conference Center, Monterey, CA.
The program is organized by Nadine Cunningham of the ICSC who is visiting from NYC and Michael Thomas from the City of Milpitas, CA. Terry joins panel moderator and former Indiana University classmate, Barry Edwards, partner Greenberg Glusker Fields Claman & Machringer LLP; Connie Verceles, Deputy City Manager, Sunnyvale, and Rich Williams, architect, Meter Willis Pollack for a lively discussion about the current shopping center trends and the changes to come. As traditional shopping centers and malls are reimagined to new concepts such as regional open-air lifestyle centers with blended uses, this panel discussion covers the revisioning and repurposing of shopping centers and malls. The panel will consider today’s economic reality, the challenges of re-development such as competing interests including developer and operator vision versus community vision and how to address them.
Terry is uniquely qualified to sit on this panel. Through his company Tallen Capital Partners, LLC, he has reimagined and renovated hundreds of antiquated and underutilized shopping centers, including the nearby Marina Landing Shopping Center anchored by Walmart. In Marina, Terry has invested nearly $15M on the historic Monterey Peninsula since 2006, when he brought the first and only Walmart to the Peninsula, significantly adding to Marina’s tax revenues. The next phase of the Marina Landing Shopping Center includes plans for an attractive 82-unit Tallen Marina Coastal Town Home project along with a national coffee purveyor. “Our 5.11-acre Marina Landing site is considered one of the finest Coastal Development sites on the West Coast and we look forward to bringing much needed upper scale as well middle market housing to the Monterey Peninsula. Our Walmart and Quick Quack Car Wash are far outperforming their projections and we look forward to completing the rezoning and redevelopment of this irreplaceable land,” said Terry.
More recently, TCP acquired, entitled and significantly renovated the iconic 60-year-old Rossmoor Shopping Center in Walnut Creek, CA. These transformative efforts include beautiful public gathering spaces, new drive thru’s at Starbucks and CVS Pharmacy, and multiple long-term leases with new national, regional, and local restaurants, health and wellness and other much sought after retailers.
The Rossmoor Shopping Center won the Walnut Creek Magazine’s Best Shopping Mall in Walnut Creek in 2019. TCP’s redevelopment efforts lead to Sausalito’s Gateway Marin Shopping Center being named the San Francisco Business Journal’s Best New Retail Deal of 2003. TCP is redeveloping and rezoning the blighted Irvington Plaza in Indianapolis. The 156,000-square-foot Irvington Plaza was built in 1952 and for years served as a primary retail hub for the neighborhood. However, it has been on the decline since the 1980s. In May 2017, it lost a 32,000-square-foot Marsh Supermarkets anchor store, which led to even more vacancies. Today, it is nearly deserted.”Reinvigorating dying shopping centers is a challenge we love,” says Terry. “We’re envisioning many options – public green spaces, community arts center, housing, restaurants and other commercial uses.”
Terry is the founder and CEO of Tallen Capital Partners LLC, a privately held real estate investment, development, and asset services company. He leads the company’s multidisciplinary approach of the acquisition, financing, entitlement, and redevelopment of retail and mixed-use projects located throughout the Western United States.
Prior to Tallen Capital Partners, Terry served as a principal or senior executive with several large public and private real estate organizations, directing the redevelopment, entitlements, and leasing of more than 320 retail properties comprising 40M sq. ft. GLA. He is a past or current member of the Urban Land Institute, NAREIT and ICSC. He is a policy advisory board member at the Burnham-Moores Center for Real Estate and at Indiana University’s (IU) Kelley School of Real Estate Studies. Terry graduated from IU’s Kelley School of Business. He was co-captain of IU’s 1979 Holiday Bowl Championship football team and provides major gifts to the IU athletics program. The university named its new state of the art football complex the “Terry Tallen Indiana Football Complex.” Terry is a member of Indiana University’s Kelley School of Business Private Equity Investment Committee, the largest student-run Private Equity Fund in the US. His Tallen Time podcast series focuses on sports, business, philanthropy and mentoring with his partner, award-winning sports Illustrated writer Tom Brew.
Tallen Capital Partners is a privately held, vertically integrated retail and mixed-use real estate investment and development organization with offices in San Diego, San Francisco Bay Area, and Indianapolis.