BH Properties Signs Ross Dress for Less to a 26,000-Square-Foot Lease at Plaza Centro Shopping Mall in Caguas, Puerto Rico
Ross joins Burlington, JC Penney, Office Max, and Sam’s Club as anchor tenants, bringing the popular mall to 96% Leased
Caguas, Puerto Rico – July 30, 2024 – BH Properties, a vertically integrated, value-add real estate investment company based in Los Angeles, CA, USA, has signed Ross Dress for Less (Ross) to a 26,000-square-foot lease to open a new retail outlet at the Plaza Centro shopping mall in Caguas, Puerto Rico. Located on the southern outskirts of the Puerto Rican capital of San Juan, Plaza Centro features more than 283,000 square feet of retail and is now more than 96% leased. The addition of Ross further complements the mall’s diverse shopping experience which is already anchored by Burlington, and neighboring tenants including JC Penney, and Sam’ Club. JLL Puerto Rico represented the BH Properties in the transaction.
With plans to open its doors to patrons in 2025, Ross will offer shoppers its well known selection of high-quality department and specialty store brands at bargain prices. The addition of Ross is part of BH Properties' continued revitalization of Plaza Centro by bringing in a diverse mix of top-quality retailers that match the needs and wants of the Caguas community.
"Ross is a fantastic addition to Plaza Centro, continuing our successful strategy of delivering a mix of international brands and local retailers that resonates with the greater San Juan community," said Jim Brooks, President of Los Angeles based BH Properties. "Ross’ commitment to providing quality brands at outstanding values aligns with our vision of making Plaza Centro a vibrant and essential hub for shoppers across the economic spectrum."
Ross Dress for Less joins other new tenants at the shopping center, including Beya Accessories, Cosmo Prof, Qdoba Mexican Eats, a new expanded salon and spa, a chiropractor’s office, La Nueva Era and CSL Plasma. These additions further diversify the shopping, service, and dining options in the neighborhood, which include Fuddruckers, IHOP, Chilis, Metropol Restaurant, Chuck E. Cheeze, Ponderosa Steakhouse, and Wetzel’s Pretzels, among others.
In addition to the more than 10 million square feet it owns and operates in the continental US, BH Properties owns and operates more than 650,000 square feet of real estate in Puerto Rico, including the ongoing redevelopment of two former Sears locations: one at Las Catalinas Mall, currently known as the Shoppes at Caguas, in Caguas, PR; and the other at Plaza Carolina in Carolina, PR.
"Since our founding more than thirty years ago, BH Properties has remained dedicated to investing in the communities we serve," added Brooks. "Through the revitalization of key retail spaces and attracting the high-quality tenants that our patrons want and need most, we aim to create dynamic and thriving environments for residents, visitors, and businesses alike."
For more information about the upcoming changes and leasing opportunities at Plaza Centro, Las Catalinas Mall, and Plaza Carolina, please contact:
Armando Bustillo, Regional Asset Manager at BH Properties – armando.bustillo@bhproperties.com
Andy Carlson, Managing Director Caribbean/ County Manager PR at JLL - andy.carlson@jll.com
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 110,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About BH Properties:
Founded 31 years ago, privately held BH Properties (http://www.bhproperties.com) is a vertically integrated real estate investment company focusing on the acquisition and management of a geographically and product diverse portfolio of assets. The Los Angeles-based company, with six regional offices in San Francisco, Phoenix, Dallas, Houston, Seattle and Riverside, CA, continues to focus on value-add transactions, distressed debt, gap financing, and ground leases.
About Ross Dress for Less:
Ross Dress for Less is the largest off-price apparel and home fashion chain in the United States, offering in-season, name-brand and designer apparel, accessories, footwear, and home decor at discounted prices. With a commitment to great values and an ever-changing selection, Ross provides an exciting treasure-hunt experience for all shoppers.