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Paddock Shops

From Wikipedia - Reading time: 6 min
Paddock Shops
The Terrace at the Paddock Shops
Map
LocationLouisville, Kentucky
Opening dateNovember 1, 2001
ManagementFairbourne Properties
OwnerCPT Capital Management
No. of anchor tenants6
Total retail floor area367,500
No. of floors1
Public transit accessBus interchange TARC
Websitepaddockshops.com

The Paddock Shops is a shopping complex in the east end of Louisville, Kentucky USA, billed as a lifestyle center. Originally known as The Summit of Louisville, it is currently owned by Boston-based CPT Capital Management and managed by Chicago-based Fairbourne Properties.[1] From its opening in 2001 until May 2013, it had been owned by a subsidiary of Prudential and managed by Birmingham, Alabama-based Bayer Properties.[1][2]

It has 367,500 square feet (34,140 m2) of retail space spread over 40 acres (160,000 m2) of land, with central parking surrounded by Mediterranean-themed storefronts.[2] The primary entrance is on Kentucky Route 22.[3]

The shopping complex formally opened on November 1, 2001.[3] On May 21, 2013, a Louisville business journal reported that CPT Capital Management had purchased the center for $111.5 million, and that Wilkow would take over from Bayer as property manager.[4] Shortly after the sale, the new managers announced that the complex would be renamed via an online vote. Three choices were provided—Paddock Shops, Oaks Town Center, and Shops of Louisville—along with a write-in option.[1] On August 15, 2013, Wilkow announced that the winning name was Paddock Shops, with nearly 30% of the vote, and new signage was immediately installed.[5]

Anchors

[edit]

The Paddock Shops has several anchor stores with Bed Bath & Beyond being the largest by square foot totaling just over 30,000. Barnes & Noble, Earth Fare, and Office Depot are smaller with square footage ranging in the mid twenties range. On May 16, 2015, Office Depot officially closed its doors, and Earth Fare departed as well. The lifestyle center also has junior anchors in Ulta Cosmetics and DSW.[2]

[edit]
  1. ^ a b c Robinson, Andrew (June 20, 2013). "What's in a name? The Summit looks for a new one". Business First Louisville. Retrieved August 19, 2013.
  2. ^ a b c Bayer Properties - Summit of Louisville Profile Archived 2008-02-26 at the Wayback Machine
  3. ^ a b Goetz, David (2001-10-19). "'Lifestyle center' almost ready". The Courier-Journal.
  4. ^ Robinson, Andrew (May 21, 2013). "Summit shopping center sold for $111.5 million". Business First Louisville. Retrieved August 19, 2013.
  5. ^ "East Louisville shopping center gets new name". Louisville, KY: WDRB. August 15, 2013. Retrieved August 19, 2013.

38°18′28″N 85°34′37″W / 38.30778°N 85.57694°W / 38.30778; -85.57694


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Licensed under CC BY-SA 3.0 | Source: https://en.wikipedia.org/wiki/Paddock_Shops
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