Friday May 25 2012
New stores opening doors at Palladio in Folsom
By: Art Garcia, Telegraph Correspondent
FOLSOM CA - After a sluggish start, due largely to a sinking economy, the Palladio at Broadstone shopping mall in Folsom is in a catch-up mode, with the roughly 700,000-square-foot retail center now about 60 percent leased. With a slow economic turnaround underway, the open-air Palladio mall is ?certainly making progress to get another batch of stores opened by the holiday season,? said general manager Gloria Wright. ?I feel by the end of this year we?ll be 75 percent leased, absolutely,? Wright said. ?Our merchants are doing well, which means there?s hope yet for the economy.? She credits the recent surge in occupancy partly to the opening of the Whole Foods Market last October. ?It?s made a difference from the standpoint of getting some of the tenants moving that we already had executed leases with. Once you have that national anchor, it?s an impetus for them to start moving,? she said. ?Tenants are finally at a point now where they can start expanding again and they?re looking at secondary markets such as the Sacramento region. ?Since they?re able to expand again, they?re taking a very hard look at the Folsom area, which is just fantastic for us,? Wright said. At the end of this month, Chops Steak Seafood & Bar, an upscale Sacramento restaurant, opens its second location, this near the Palladio cinema. Also opening at the end of May is Nail Palazzo, a nail salon. Toby Keith?s Bar & Grill and a new location for Sports Authority, both approximately 50,000-square-foot spaces, open in early July. They?ll serve as anchor outlets. Also scheduled to open in July is Claire?s retail boutique. In August, Ambiance, a locally owned boutique carrying name-brand gift, clothing and house ware items, opens its third store and San Francisco Sourdough deli is to open the same month. Signed as tenants are H&M, a national men?s, women?s and young adults clothing store; Button Up, featuring denim to dresses in women?s fashion; and Apricot Lane, primarily a women?s styles and trends boutique, that opened this month. Also open are Kirkland?s, with a selection of house wares and garden accessories, and Panera Bread, open since the end of last year. ?It looks like H&M will be open for the holidays,? said Wright. There are other leases in the works but not yet signed. ?I can?t talk about them yet but we?ll have another group to announce soon,? she said. The Palladio movie theater has been a magnet, pulling a mix of young and older men and women to the center. ?It?s open 365 days a year so it?s a draw literally every day of the year and its sales are increasing year over year,? she said. Palladio will kick off a summer concert series running from June through August in the mall?s middle piazza, where its large waterfall is located. The performances will be free. Asked whether a large anchor department store, such as a Macy?s or Nordstrom, might be drawn to Palladio, Wright said such large tenants are not in the center?s plans ?at this time.? For leasing information, phone Wright at (916) 293-8934. The Palladio web address is www.gopalladio.com.