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45-416: The 350,000 square foot Plaza Río Hondo at the time was first owned and developed by the firm Wilder-Manley Associates, and represented an investment of $ 25 million. The mall was also managed by the firm Wilder-Manley of Puerto Rico, Inc., a subsidiary of WMA. On March 31, 1982, the first group of stores at the mall first opened, of which included Pueblo Supermarkets . The second few group of stores opened at

90-486: A group of entrepreneurs on the East Coast , including Bernard Goldston, Norman Barren, and Irving Blitt (Frank Estey and Bernard Ribas joined the entrepreneurs in 1960 by purchasing Bernard Goldston's shares), to collectively start up the "Brand Names For Less" concept. Marshalls did not carry clothing until Irving Blitt (who later handled the sporting goods concession) called his friend Al Marshall letting him know he had

135-677: A larger store format featuring lower prices with stores located in Puerto Rico and the state of Florida. The lower prices were made possible by the elimination of some services, such as baggers. In 1989, Pueblo acquired the franchise rights to develop Blockbuster Video Stores in Puerto Rico and the US Virgin Islands . The first Blockbuster Video store opened in Puerto Rico in June 27, 1990 at Campo Rico Avenue in Carolina , next to

180-679: A new store in Ciudadela, Santurce . In May, 2016, Pueblo relocated their Monte Mall store in Hato Rey from the first level of the Mall to the second one facing Luis Muñoz Rivera Ave. on a bigger space of 34,000 sq. feet incorporating the Village concept. In June 2022, Pueblo Supermarkets announced that it would be buying the 11 Amigo Supermarkets from Walmart, the name would stay and the 1,100 employees would keep their jobs. On August 26, 2022,

225-567: A river theme throughout the whole mall featuring bright, tropical colors, suggesting the tropical landscape and seascape of Puerto Rico. This encouraged the tenants to renovate their own spaces. The center was re-merchandised to meet the needs of all kinds of consumer budgets. Among the new stores were Bostonian , Payless ShoeSource , a bookstore, a GNC Nutrition store, an upscale men's clothing store, and kiosks for cellular telephones, candy and jewelry. Plaza Río Hondo remained open for business during its fast-track construction schedule, which allowed

270-732: Is an American chain of off-price department stores owned by TJX Companies . Marshalls has over 1,000 American stores, including larger stores named Marshalls Mega Store (stores operating with HomeGoods combined), covering 49 states and Puerto Rico , and 61 stores in Canada . Marshalls first expanded into Canada in March 2011. Marshalls is one of the largest U.S. off-price family apparel and home fashion retailers, along with its sister company, TJ Maxx . Its slogans are Your Surprise Is Waiting and Never Boring, Always Surprising . Marshalls traces its history to 1956, when Alfred Marshall gathered

315-652: The Hurricane Maria , making Retail Value Inc. the new owner of the mall at the time. On November 6, 2019, it was announced that the Kmart store at the mall would be closing in February 2020. In August 2021, Developers Diversified ( DDR Corp. ) came back to the PR retail landscape with a $ 550 million deal with RVI of which Plaza Rio Hondo was included in, making DDR the owner of the mall once again. On May 10, 2023, it

360-620: The New York Stock Exchange . In 1963, Pueblo expanded beyond Puerto Rico 's shores to the US Virgin Islands . Pueblo opened stores in St. Thomas and St. Croix . The company also introduced the trademark Pueblo which included items from paper towels to rice. In 1983, Pueblo launched the Xtra Super Food Centers concept, a discount warehouse supermarket which allowed the customer to shop for groceries in

405-731: The San Patricio Plaza , and that past week it had begun liquidating stores in Caguas , Cupey , De Diego Avenue in San Juan , Plaza Carolina and Rexville Plaza in Bayamón . During an informal round of the stores that were holding close out sales, it was confirmed that most, if not all locations would be shuttered by August of that year. The Blockbuster chain had undergone a significant transformation about four years earlier, when local franchisee BB Entertainment of Puerto Rico, LLC, which

450-656: The U.S. Virgin Islands . The brainchild of brothers Harold Toppel and George Toppel , sons of Russian immigrant parents, Pueblo began as a single store operation on Roosevelt Avenue in the Puerto Nuevo section of San Juan, Puerto Rico . The success of the first store led the Toppels to open 43 other Pueblo Supermarkets around the Island and, by 1960, to convert the enterprise into a public company that began trading on

495-476: The "International Design and Development Award" for its layout and style, this was given to the mall after the major renovations it had in 1994 into 1995. In 1997, the Woolworth store at the mall closed after the chain went under that year. In late 1998, management Yebba Realty Ventures at the time purchased the lease from F.W. Woolworth Company of their 36,680 square foot store at the mall for $ 800,000 with

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540-556: The Administration Office and Distribution Center. In 2003, Pueblo faced financial troubles and there were rumors of a potential buyer from Venezuela . In 2007, Pueblo faced serious financial difficulties again, as many locations were sold to other competitors. Some were acquired and taken over by rival supermarkets Econo , Grande , COOP and Supermax . The entire chain was auctioned in September 2007 as part of

585-477: The Aliss department store, located at the mall had begun the process of closing its operations, which would end on that January 31. Regarding Aliss' departure from Plaza Río Hondo, Martha E. Hermilla, the senior marketing director of Curzon Puerto Rico, clarified that it had been a decision by the landlord. However, the company already had a tenant for the space. According to Hermilla, Golden Corral would be occupying

630-686: The American economy in the 1970s, with recession affecting the spending habits of most shoppers, the off-price industry gathered speed. By buying up manufacturers' post-season, overrun, and close-out stock, Marshalls was able to offer fashionable, high-quality "designer" items at prices 20 to 60 percent less than those of the department stores. In 1976, Marshalls was acquired by Melville Corporation . There were 36 stores in New England and California at this time. Marshall also independently owned five stores in St. Thomas , St. Croix , and St. Maarten in

675-474: The Caribbean. The brand surpassed $ 1 billion in sales in 1982. By April 1987, there were 261 stores across the country. However, profits began to slip in the mid-1980s when the company shifted to lower-priced goods, competing with other discount stores rather than department stores. Since Marshalls made up 28% of Melville's sales at this time, there was a lot of focus on turning the store around. Marshalls

720-1015: The Chapter 11 Bankruptcy process, where a bid by Ramón Calderón president of Holsum of Puerto Rico (a baker goods company) for $ 139 million succeeded in taking over the rest of its operations. The Bankruptcy Court in Delaware approved the transaction. The new company expected to restructure Pueblo in an effort to revive the brand. In September, 2009 Pueblo, Inc. sold its flagship store in Campo Rico Avenue, Carolina (next to their Corporate Headquarters and Distribution Center) to Econo Supermarkets . In April 2012, Pueblo acquired two former Supermercados Selectos stores in Southeast Puerto Rico and converted them into Pueblo, in Arroyo and Guayama . In February, 2014, Pueblo opened

765-553: The USVI mirrored what has been taking place stateside, where parent company Dish Network had announced that January that it planned to shutter 300 stores across the U.S. "soon." By June 20, 2013, it was reported that after almost four years of having acquired the Blockbuster store chain in Puerto Rico, Susana Santamaría would be closing the following month the last stores that were still open. Marshalls Marshalls, Inc.

810-700: The acquiring of 5 Barker’s stores on the island by the Kmart Corporation , a new Kmart store would inaugurate at Plaza Río Hondo in the former Barker’s space. On March 26, 1985, a Ponderosa Steakhouse opened at the mall. On July 3, 1986, the Rio Hondo Cinemas a 6-screen cinema opened owned by the Caribbean Cinemas chain. It opened with premieres such as Stallone Cobra , The Karate Kid Part II , Off Beat , Poltergeist II: The Other Side , and Psycho III . In November 1994, it

855-418: The amount of money that was paid for the franchise, he said that Pueblo would also pay, as part of the agreement, a royalty on sales volume to Blockbuster Entertainment. The store, which was built at a cost of $ 250,000, measured more than 6,000 square feet and had more than 10,000 videos in 30 categories. Filiberto Berríos, then general manager of the chain of stores, said that Pueblo had plans to open two more in

900-443: The center of the mall began to experience financial difficulties, management immediately entered into negotiations to purchase the lease, which they were able to do for $ 600,000. A 12-unit food court plus 2 outside facing retail bays were complete at a total cost of approximately $ 3,645,000. The first year net income generated from the food court was approximately $ 1,112,280. The total cost of the lease buy-out and food court construction

945-759: The concept into standalone stores. In 2015, Marshalls opened its 1,000th store. In 2019, the company began operating a website for online shopping . During the COVID-19 pandemic , Marshalls shut down all stores and suspended its online operations, closing all distribution and fulfillment centers and offices in March 2020. TJX began reopening stores in May and completed the process by the end of June. TJX paid US $ 100 million settlement in California to settle an employee class-action suit in 2002, which alleged that Marshalls abused exempt/nonexempt classifications to avoid

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990-1050: The end of July of that year. This included Barker's , Woolworth , La Giralda, and many more. In July 1982, Barker's one of the stores anchoring the mall inaugurated being the chains 16th store on the island. In November 1982, the mall had inauguration events including things such as fashion shows, exhibitions, and music. These events took place starting on the 5th of that month and ending in December of that year. The mall opened with 70 stores of which included Barker's , Woolworth , Pueblo Supermarket , Walgreens , Kinney Shoes , Gordon's , Marianne , La Favorita, Centro Disco, Thom McAn , Hallmark , Almacenes Rodríguez, Flagg Shoes, Madison, Preciosa, Butler Shoes, Lerner's, Almacenes Karlo, RadioShack , Baker Shoes , Zales , Rahola, Tiffany Bakery, Land of Oz, Lee Borinquen, Taco Paco, Burger King , Golden Skillet , Almacenes González, La Giralda, and many more. It also featured on opening free parking for over 2,000 cars. On October 20, 1983, after

1035-515: The former 13,156-square-foot location of a Grand Stores department store, expanding it to 15,406 square feet. Therefore, Grand Stores would be relocating to the former 7,875 square foot location that Aliss occupied, expanding it to 10,125 square feet. Pueblo Supermarkets Pueblo is a Puerto Rican supermarkets chain. It has been one of Puerto Rico 's major supermarket chains since 1955. Pueblo operates supermarkets in Puerto Rico and

1080-466: The highest grossing opening day in the history of the chain on a sales per square foot basis at the time. In 2001, Yebba Realty Ventures sold the mall to Caribbean Property Group (CPG) for a purchase price of $ 16,683,080 million dollars. On June 17, 2004, it was reported that Plaza Río Hondo would soon become home to a Marshalls MegaStore (featuring HomeGoods inside Marshalls store) and CompUSA's flagship store in Puerto Rico , said Martha Hermilla,

1125-411: The intention of expanding the premises to accommodate the addition of two new junior anchor stores Marshalls and Tiendas Capri. In April 1998, management at the time Yebba Realty Ventures believed that Plaza Río Hondo required additional food services within the mall. Shortly after the acquisition a long-time tenant, with considerable lease term remaining and a store occupying some 20,000 square feet at

1170-545: The mall was acquired by DDR Corp. from a $ 1.15 billion portfolio deal with Caribbean Property Group (CPG) which included the mall. On August 4, 2011, TJ Maxx would open a 30,000 square foot store at the mall, replacing the space formerly occupied by a Tiendas Capri. On January 24, 2012, that the Anna's Linens chain, had plans to open a store in Plaza Río Hondo, the store would occupy a space of 5,600 square feet and

1215-484: The mall's marketing manager. "This year, we are adding a 55,000 square foot space for a Marshalls Mega Store. The space currently occupied by a regular Marshalls will be occupied by CompUSA, which intends this to be its flagship store on the island,” said Hermilla. Apparel & domestics retailer Marshalls' megastore would be a freestanding building on an outparcel beside the Pueblo supermarket . Occupying 33,000 square feet,

1260-773: The metropolitan area, have nine in operation by the end of 1991 and 22 in Puerto Rico and the Virgin Islands by 1992. Morrow explained that the second store would open on Piñeiro Avenue in Río Piedras and the location of the third was reserved because it was still under negotiation. When asked, the president of Pueblo ruled out that the chain was going to compete directly with the video clubs that Pueblo already had developed in some of its stores and Pueblo Xtras. "We have 11 video stores operating in our stores and we expect to open another four this year, so we will continue to expand in that area and we do not anticipate closing any of

1305-406: The opening was anticipated to be that year. In 2014, DDR Corp. announced a full remodel of the mall, the changes included new facades and architectural elements that would allow in natural lighting, and the inclusion of expanding the variety of retailers inside of the mall. In 2017, DDR Corp. spun off its Puerto Rican shopping centers to RVI ( Retail Value Inc. ) due to struggles they had after

1350-547: The opportunity to purchase factory second Arrow shirts while on a trip to New York. Contemplating the dual postwar phenomena of a boom in the economy and growth in the suburbs, Marshall and associates came upon a way to meet it profitably. Together, they opened a self-service department store in Beverly, Massachusetts , offering apparel and homewares at low prices. Additional floor space was "sublet" to offer customers shoes, hardware, and sporting goods from separate sellers, but

1395-630: The payment of overtime or compensation time to employees in certain roles performing non-exempt job duties, as required by the federal Fair Labor Standards Act . The enterprise has developed national and local partnerships with U.S. charitable organizations. All donations and fund-raising efforts from Marshalls are connected to helping children, families, and their communities with these programs: Marshalls opened its first locations in Canada in March 2011. As of November 2016, Marshalls Canada had 50 stores with plans to operate approximately 100 stores across

Plaza Rio Hondo - Misplaced Pages Continue

1440-522: The regular Marshalls at Plaza Rio Hondo would close. Computer retailer CompUSA's store at Plaza Rio Hondo would be the company's second on the island. The first, occupying 22,000 square feet, was in Guaynabo's Plaza Caparra. Also planned to kick off at Plaza Rio Hondo that year was an expansion of the mall by some 20,000 square feet and the refurbishment of its interiors. "It is going to be a major renovation," said Hermilla. Although she said all construction

1485-505: The renovation to be substantially complete for the 1994 Christmas season. These renovations would be fully complete by February 1995. By then the 425,000 square foot mall, would be anchored by a 92,000 square foot Kmart , a 36,000 square foot Woolworth , a 19,700 square foot La Giralda, and a 9,000 square foot Walgreens as a junior anchor. In 1996, the International Council of Shopping Centers awarded Plaza Río Hondo with

1530-402: The separate ownership of those departments was invisible to the shopper. The original store also had a soda fountain/grill, which was another sublet of floor space, the "A & M Luncheonette" (for Alice & Mickey Masters, the proprietors). The concept proved extremely successful. Ten years later, Marshalls had become the leading off-price retail chain in the nation. Given the volatility of

1575-519: The time. Marshalls and T.J. Maxx operate as sister stores, and share a similar footprint throughout the country. While the two offer near-identical prices and have similar store layouts, Marshalls differentiates itself by its emphasis on family footwear and larger men's and juniors departments. Starting in 2005, Marshalls began introducing Shoe MegaShop departments in its stores. The company added MegaShops to 240 Marshalls stores in 2008, with another 200 planned for fiscal 2009. Marshalls soon expanded

1620-528: The transition from Amigo to Pueblo supermarkets began. On June 27, 1990, it was reported that Pueblo International had inaugurated its first video store "Blockbuster Video" on Campo Rico Avenue in Carolina . The store was a subsidiary of Pueblo International, which had purchased the franchise for Puerto Rico and the U.S. Virgin Islands , for an undisclosed amount, from the BLOCKBUSTER Entertainment Corporation (BEC), which

1665-554: The video stores that are already in operation”, Morrow said. Elvin Santiago was named manager of the first store, which would have a total of 28 employees. On June 3, 2013, it was reported that Blockbuster had spent some past three months quietly closing its stores in Puerto Rico, a market it would possibly be exiting that summer. Since January of that year, the chain had closed several stores, such as in Plaza Río Hondo and

1710-402: Was approximately $ 4,245,000 thereby equating to a yield on investment of 26.2%. Again applying a 10% cap rate to the net operating income stream, Management created additional net value of $ 6,877,800. Beyond that, the food court increased the business at the mall. In 1999, after the redevelopment of the former Woolworth store, both Marshalls and Capri would inaugurate that year. Marshalls, having

1755-668: Was headed by entrepreneur Susana Santamaría, invested about $ 1 million to purchase 13 locations from the Colorado-based corporation. That transaction, which secured the Blockbuster operation in Puerto Rico and the U.S. Virgin Islands, markedly whittled down the chain’s presence from the 40 stores it had at the height of its success. By this point the chain had already closed stores in Hato Rey , Isla Verde , Plaza del Norte in San Juan, Fajardo , Mayagüez , and Aguadilla . The closings of local Blockbuster locations in Puerto Rico and

1800-441: Was outperformed by rival TJ Maxx in the early 1990s. By 1993, Marshalls had expanded throughout 42 states including Hawaii , and had opened several downtown locations. Its first location in Puerto Rico opened in 1994. The company's pretax operating earnings fell by 20% between 1993 and 1994. In 1995, Marshalls was purchased by TJX , the parent company of its main rival, TJ Maxx , for $ 550 million. There were 496 stores at

1845-691: Was reported that The Children’s Place had plans to open a store at the mall by December of that year. In December 2004, the mall had more than 90 establishments at the time such as a Big Kmart , Marshalls , Tiendas Capri, Walgreens , Pueblo Xtra , Rave, Rave Girls, 5-7-9 , Tiendas Kress , Click, Marianne , Clubman, Champs Sports , Foot Locker , KB Toys , Payless ShoeSource , GameStop , RadioShack , Blockbuster Video , Time Out , GNC , Pearle Vision Center , Zales , Claire’s , Rainbow , and others. It would also feature food options such as Burger King , Kentucky Fried Chicken , Ponderosa , Soft & Creamy, Subway , Taco Bell , and others. In 2005,

Plaza Rio Hondo - Misplaced Pages Continue

1890-414: Was reported that Curzon Puerto Rico, an affiliate of Curzon Advisers, was now the owner of one of the largest shopping center portfolios in Puerto Rico, formerly owned by Developers Diversified ( DDR Corp. ) which had acquired it again in 2021. In this portfolio of 9 shopping centers, Plaza Río Hondo was included, making Curzon Puerto Rico the new owners of the mall. On January 29, 2024, it was reported that

1935-416: Was reported that the then 394,400 square foot mall would remodel and expand under the ownership of Manley Berenson. Originally, Plaza Río Hondo had a "large box" look. The owner characterized the mall as looking like a factory. The goal of this renovation was, to quote the owner, "to break out of the box." The new look which brought forth the remodeling of both the exterior and interior of the mall, consisted of

1980-459: Was the largest video-movie rental chain in the world at the time. At the opening ceremony, then Pueblo International president David Morrow said that with the first store the company began a successful chain of video stores in Puerto Rico and the Virgin Islands. Pueblo had entered this business because they understood that the Blockbuster concept was the future in the video rental industry, the executive also indicated. Marrow would not publicly indicate

2025-522: Was to begin in those following few months, she couldn't say when the projects would be completed. Plaza Rio Hondo, at the time occupied 461,989 square feet and had more than 90 stores. The mall's sales per square foot averaged $ 450; the food court generated per square foot sales averaging of $ 770. Including Plaza Rio Hondo, PMI Inc. managed 17 properties in Puerto Rico with more than 28,000 parking spaces, more than 5.3 million square feet of gross leasable space, and more than 800 merchants. On August 19, 2004, it

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