CAFARO
CAFARO is a privately held company based in Niles, Ohio, specializing in the leasing and management of non-grocery retail spaces. With a history spanning 75 years, the company operates 12 malls across the United States and focuses on expanding its portfolio through quality mall acquisitions and community engagement.
Company History
The company was founded in 1949 by William M. Cafaro and his brother John. It has a history of retail development spanning 75 years, with a focus on building regional malls since the 1960s. The company has evolved over the decades, adapting to changing market needs and retail trends. It has developed over 30 million square feet of space and has been involved in significant renovations and upgrades at its properties. The company continues to seek quality mall acquisitions and has expanded its portfolio to include residential developments.
Leasing and Management Services
The company operates in the Leasing Non-residential Real Estate industry, specializing in the leasing and management of non-grocery retail spaces. It provides opportunities for entrepreneurs through specialty leasing with flexible terms. The company has a marketing team that supports its malls with publicity and promotional events. It operates 12 malls across the country, focusing on local leasing and community engagement.
Mall Portfolio and Locations
The company operates a diverse portfolio that includes more than 50 properties across 14 states. Its malls are strategically located in various regions, including Niles, Ohio; Clarksville, Tennessee; and Puyallup, Washington. Notable properties include the Mall of Monroe, which attracts 1.3 million visitors annually, and Millcreek Mall, known for its entertainment offerings. The company is actively seeking mall acquisitions with specific criteria, including a minimum gross leasable area of 600,000 square feet.
Community Engagement and Development
The company emphasizes community engagement by collaborating with local communities and government officials on mall redevelopment projects. It focuses on creating community gathering spaces within its malls, hosting events such as bridal shows and career seminars. Recent initiatives include the introduction of sports entertainment facilities and the development of residential communities at some mall locations, such as the Attain at Spotsylvania Towne Centre.
Recent Renovations and Innovations
The company has been involved in significant renovations and upgrades at its properties. Recent projects include the dramatic renovation of Sandusky Mall, which introduced new retailers, and the multi-million dollar renovation of Kentucky Oaks Mall. The company has also adapted to retail trends by incorporating experiential businesses like indoor archery ranges and escape rooms, as well as introducing a 'Mall to Go' program for convenient shopping at Governor's Square Mall.