San Diego Distressed Property Specialist Named Asset Manager for The Grand Traverse Mall
SAN DIEGO (October 13, 2011) – San Diego based-Trigild has been hired by Grand Traverse Mall LLC, as the asset manager for The Grand Traverse Mall, an enclosed, single-story 590,000-square-foot shopping center with nearly 100 high profile tenants, including anchor stores Macy’s, JCPenny, Target and TJ Maxx. Opened in 1992, the mall is one of the largest shopping hubs in the region – with restaurants, theaters and an array of retail options – and is loacted in Traverse City, a popular resort town in Northern Michigan.
According to Trigild president and CEO Bill Hoffman, Trigild has been charged with readying the troubled mall for a profitable sale, as well as concentrating on leasing efforts to stabilize net operating income. “The mall has been challenged due to local and national economic issues,” he said. “We are focusing on developing a disposition strategy and ultimately facilitating the disposition process. There will be no impact on shoppers, the mall will remain open and operate as usual.”
In the interim, Trigild is overseeing all leasing efforts, and has tapped Dallas-based Trademark Properties as the mall’s property management firm.
Headquartered in San Diego with regional offices throughout the country, Trigild has more than 30 years of expertise in managing a wide array of commercial real estate assets and operating businesses. With special expertise in turning around under-performing assets, the company combines receivership and bankruptcy services, operations and property management, and consulting services under one roof. For further information, visit www.trigild.com.