Foothills Mall of Tucson, AZ has certainly been on one helluva rollercoaster ride since it was first opened in 1982. After several years of struggling to pull out of a seemingly desolate descent, the once upscale indoor regional shopping center seemed destined to close their doors forever, that is until Bourn Companies stepped back into the picture.
When Bourn Companies initially invested in developing the mall in the 90s, indoor malls and outdoor shopping plazas all across the nation were also enjoying a rather promising economy. However, in the recent decade, those same once prosperous malls that were the centerstones of their communities, bustling full of shopping families and people looking for fun places to hang out, have also had to endure similar, heartbreaking declines. One of the most obvious reason for the decline of the indoor mall shopping concept, as reported by Gabriela Rico of the Arizona Daily Star, was the demand by retailers for a cheaper lease option.
Outdoor shopping plazas, or strip malls, seemed to answer that demand. For a short while it seemed as though strip mall developers could not build fast enough to meet the demand of retailers. Strip malls began to pop up all across the nation, quickly attracting some of the largest retails out of the indoor malls, leaving behind the skeletal remains of our glorious shopping malls turned into desolate, empty ghost malls. Customers appreciate the convenience and cost benefits of shopping in outdoor plazas, yet many also revel for the nostalgia of the traditional indoor malls they grew up in.
Over the next few years, Bourn Companies plans to provide a revolutionary modern and holistic approach to providing both customers and retailers, with the benefits of both. The Foothills Mall revitalization project is certainly not the Tucson-based commercial real estate investor’s first rodeo. The company has had a long history of acquiring and successfully developing several other major retail stores, shopping centers, and corporate office buildings throughout the Southwestern U.S. Bourn Companies.
Don Bourne, CEO of Bourn Companies believes that they will again prove successful in developing the mall into a once-again thriving community for retailers, shoppers, and even a hint at corporate offices. Here’s to the hopes of a promising new future for one of the most beloved shopping locations in the entire surrounding Casas Adobes community.
