Falmouth Mall Development Update

By LAURA M. RECKFORD
The Falmouth Enterprise
Dec. 22, 2007

The Wilder Companies, which took over ownership of Falmouth Mall in May, is not planning any major changes at this time.

Thomas Wilder, a principal at Wilder, said, "We're always looking for opportunities to maximize sales for our existing tenants. We have no immediate plans at this point and time for Falmouth."

Wilder Companies, which is based in Boston, operates 45 shopping centers, including mixed-use complexes in New England, as well as Florida and Illinois. Besides the Falmouth Mall, they own a Hyannis shopping center with Home Depot, Super Stop & Shop and Old Navy as the anchor stores.

Mr. Wilder said most of the large stores at the mall have long-term leases, including Wal-Mart, Shaw's, TJ Maxx, and Home Goods.

Among the smaller businesses still at the mall are Hannoush Jewelers, Ladies Workout Express, and Harry's Barber Shop.

Several businesses have closed in recent months, including the Mexican restaurant Ay Caramba!, a coffee shop, the hair salon Lords & Ladies, and a bridal shop, but Mr. Wilder said those closings have nothing to do with the Wilder Companies taking over the mall.

The pizza restaurant Papa Gino's is set to close at the end of the month. There is another Papa Gino's in Falmouth on Davis Straits.

"In business in general, there is always turnover. For us, we see it as an opportunity to bring in retailers who will complement existing retailers and enhance other businesses."

Any business not at the mall is not there of their own choice, Mr. Wilder said.

"An opportunity has not been put to us to renew a tenant that we have not renewed. Whatever has happened is at their own election," he said.

As to whether Wal-Mart has asked to expand its store, Mr. Wilder said there have not been any requests from Wal-Mart. "We talk to all our tenants about how to maximize sales, including the anchor stores and small stores," he said.

He said no big changes are planned at this time.

Mr. Wilder said his company is still analyzing the mall. "We know it's a space that has had some turnover. We want to look at the function of the design and at the merchandising. There are some success stories. We hope to build on that," he said.

Overall, the Wilder Companies sees the Falmouth Mall "as a great center," Mr. Wilder said. "It performs very well. We think areas could be improved. We look for retailers with a fresh outlook on business."

Mustapha Akkawi, franchise owner of Hannoush Jewelers at Falmouth Mall, said he has a lease at the mall until December 31, 2009. Hannoush has been at the mall under the previous owner, Thomas Flatley, since 1989.

"We're here to stay," Mr. Akkawi said. "I'm not leaving this town no matter what. This town has been good to us for years."

Mr. Akkawi said business this Christmas season is about neck and neck with last year.