From rbj.net
The new owner of Perinton Square Mall wants to modernize the location with upgrades and renovations.
The DiMarco Group this month said it had closed on the roughly 17-acre plaza, located at Routes 31 and 250. The company purchased it from Angelo Crecco for $16.8 million, a filing with the Monroe County Real Property Tax Services shows.
President John DiMarco said all but 8,300 square feet of the nearly 194,000-square-foot plaza is filled. The ma11 offers a mix of grocery, dining and retail. Tenants include a Tops Friendly Markets store, Rite Aid Pharmacy, Scott’s Hallmark and Bill Gray’s restaurant.
The company plans to work with tenants and community officials to determine what changes will be done to the plaza. While nothing immediate is needed, DiMarco said, the plaza has become outdated.
“The property has been part of the community for a long -time and over the years has been well-maintained,” DiMarco said. “It would be nice to reposition it so it is more relevant to the community.”
The firm will develop, manage and maintain the plaza. He expects the center will be full in the fall and any improvements to be completed within 24 months.
“Our goal is to create an environment that is comfortable and convenient for people,” DiMarco said. His company owns nearly 3 million square feet of retail and commercial space throughout the North- east, Mid-Atlantic and Midwest regions. It operates four business entities under the DiMarco Group: DiMarco Construction (general contractor), Baldwin Real Estate Corp. (asset management), J. DiMarco Builders (facility maintenance) and ADMAR Supply Co. (construction equipment sales and leasing).
William Durdel, president of Baldwin Real Estate, said the Perinton Square Mall’s location and longevity are some of its assets. Growth south and east of the mall, as well as the area’s shifting demographic, make it a good time to evaluate the plaza and see what retailers could be added and upgrades could be considered.
“It’s a fixture in the Fairport-Perinton market,” he said.
The DiMarco Group will play host to the Jim Boeheim Golf Ball on Parade at the plaza. The event raises money for local charities throughout the summer leading up to the 95th PGA Championship at Oak Hill Country Club next month.
In the meantime, the business is renovating the 140,000-square-foot Tops Brighton Plaza on South Clinton Avenue. Changes there include the expansion of the Tops store.
The DiMarco Group also is upgrading at its 280,000-squarefoot BayTowne Plaza in Penfield. Changes include landscaping improvements, benches and new stores, including a proposed WalMart Stores Inc. supercenter.
DiMarco also has proposed some projects in Victor. It is expanding its Fishers Landing retail plaza on Route 96 by adding 38,000 square feet of retail space, along with 33,000 square feet of second-floor office space in three buildings.
The existing 20,000-square-foot retail building also is slated for architectural and landscape improvements. The plaza is 100 percent occupied, with tenants such as Enterprise Rent-A-Car, Allstate Insurance Co. and Monro Muffler Brake Inc.
Also in Victor, DiMarco has proposed Fishers Ridge, a lifestyle-town center project on Route 96 at Route 251. Development plans for the 78-acre parcel include retail, restaurants, banks, hotels, offices and multi-unit housing. A similar project by DiMarco is underway at Hampton Ridge Center, a 60-acre parcel on West Ridge Road in Greece.
DiMarco said there is room for growth in the Rochester area retail market.
“There are retailers who are looking to do business here, and we want to provide them with modernized venues to do so,” he said, adding that people moving to the area may seek out retailers they are familiar with from outside the area. “There is a desire for new and different services.”
adeckert@rbj.net I 585-546-8303
