California Dolphin: statewide California news

Hilltop Mall aims for ‘Asian-centric’ shopping, signs 99 Ranch Market

RICHMOND — The owners of the former Hilltop Mall — now the Shops at Hilltop — are making moves to redevelop the struggling mall, starting with a new anchor tenant: Taiwanese American grocery chain 99 Ranch Market.
The leasing of the 35,000 square-foot Asian grocery store is the first step in what the mall owners say is a move toward becoming “a robust and all-inclusive Asian-centric shopping and entertainment destination.”
Owner LBG Real Estate Companies said it expects the mall will also include new outlet stores, restaurants with a focus on Asian cuisine, and “family-friendly” entertainment venues.
Signing tenants who appeal to a growing Asian population, said Leslie Lundin of LBG Real Estate Companies, “will result in an impressive end product where the Shops at Hilltop will be defined as an all-inclusive destination that offers a well-rounded consumer experience, one that instantly differentiates the center from its regional competition.”
Other malls and shopping centers in the Bay Area have made efforts to focus on Asian shoppers. The Grand Century Mall in San Jose is often considered a Vietnamese mall, drawing large numbers of Vietnamese shoppers with a focus on Vietnamese shop-owners and a large selection of Vietnamese eateries. The Pacific Pearl shopping center in Pleasanton, which is still under construction, is anchored by a 99 Ranch Market and includes a variety of Asian restaurants. Developers had planned a $100-million Asian-themed mall and hotel to replace a portion of McCarthy Ranch Marketplace in Milpitas, but that project apparently stalled and has not been revived .
The buying power of Asian-American consumers reached $986 billion in 2017,  according to a Nielsen report published earlier this month, signalling the fastest frowth among of all ethnic groups since 2000. It is projected to be $1.3 trillion by 2022.
Stephanie Cegielski of the International Council of Shopping Centers said she’s seeing properties throughout the country make changes to accommodate their local communities, something that can benefit them in today’s competitive retail environment.
“Property owners and landlords are bringing in tenants that the local community will support, whether that be experiential and restaurant to appeal to Millennials or Asian markets and retailers that appeal to the ethnic composition of a community,” Cegielski said. “Any mall that fills its space with tenants that appeal to the community will have a greater chance of success.”
LBG Real Estate Companies and Aviva Investors closed last July on the purchase of the 1.1 million-square-foot Hilltop Mall , which went into foreclosure about four years ago and then to the auction block.
Residents and city officials had long expressed hope that a developer could breathe new life into the mall, which has floundered in recent years with high vacancy rates and a lack of foot traffic.
The owners announced last fall  plans to make interior and exterior improvements to the mall, including new floors, paint and new store facades and said they would begin revamping the parking lot and adding new lighting soon.
Related Articles

Theater, grocery store and up to 40 restaurants planned for Richmond’s Hilltop mall

East Bay mall rebrands on way to hoped-for revival

Richmond: Hilltop mall’s struggles a sign of the times

The changes are expected to be finished in mid-2019, but there could be further renovations at the site. The city had already re-zoned parts of the 77-acre property to include a mix of office, hotel and retail space as well as 9,670 units of housing, which could be built in several phases of construction.

Top News

Ain't No God; don't even think about theism

UnFox News: not a propaganda arm of the Republican party