Church Street Marketplace

The Church Street Marketplace in 2008

The Church Street Marketplace or Burlington Town Center is a partially enclosed shopping mall located in Burlington, Vermont.There are about 86 storefronts. The Church Street Maretplace Commission manages the pedestrian mall, while the enclosed mall is managed by General Growth Properties. It contains 289,156 square feet (26,863.5 m²) on two stories, making it Vermont's fourth biggest mall. There are 49 shops including the state's only Macy's department store. It has 167,018 square feet (15,516.5 m²) of finished space.^[1]

The much larger pedestrian mall is a four-block section of Church Street in the heart of the city. Major retailers on the pedestrian mall includes five national chain stores; as well as local retailers of clothing, home-wares, and other goods. It is the site of festivals throughout the year. Events such as the South End Art Hop and public galleries such as The Firehouse Gallery and Pine Street Art Works, provide a forum for the visual arts. The American Planning Association was named the Marketplace one of America's "Great Public Spaces" for 2008.^[2]

The enclosed mall has multiple entrances, the main entrance is located on Church St. between Cherry St. and Bank St. Major retailers in the enclosed mall include six national chain stores as well as some other smaller local retailers.

History

In September 2010, it had 91.7% occupancy, 7 ground-floor vacancies. 90% is more typical. The vacancy rate peaked at 11% December 2009.^[1]

Church Street Marketplace

Operations

In 2010, the rental per square foot was from about $20 to $35 per 1 square foot (0.093 m²), plus a triple net of $11 per foot-squared. The "maintenance" part of the triple net was set by the Church St. Marketplace Commission at $2.56 per foot squared. The "tax" portion of the triple net is about $3.55/ftsq.^[1]

Average pro-rata tax payment for a non-anchor store is about $2 per 1 square foot (0.093 m²).^[1]

The main concern influencing expansion is the lack of parking downtown.^[1]

Tenants

The Church Street Marketplace has an array of stores and places to eat. There are a variety of nationally known retail chains, local retailers, and a diverse selection of restaurants. ^[3]

References

1. ^ ^{a b c d e} Johnson, Tim (6 September 2010). "Store Stats". Burlington, Vermont: Burlington Free Press. pp. 1B. 
2. ^ Briggs, John (October 9, 2008). Marketplace: 'Great Public Space'. Burlington Free Press. 
3. ^ Burlington Town Center Mall Directory accessed April 20, 2011.

External links

• Official site
• Burlington Town Center

Coordinates: 44°28′42″N 73°12′46″W / 44.4782°N 73.2127°W / 44.4782; -73.2127