Note: An earlier published version of this story stated that Poag Shopping Centers was the owner of the Promenade Shops at Saucon Valley. Poag formerly managed the Promenade Shops, according to a representative for the company.
The Promenade Shops at Saucon Valley in Upper Saucon Township has been a popular shopping, dining and entertainment destination for over 15 years. As of earlier this month, it is also under new management.
Texas-based real estate investment firm Centennial recently announced that its property management division, Centennial Advisory Services, has been awarded the Promenade Shops’ management contract. According to a news release, Centennial “will provide a full spectrum of management, marketing and accounting services for the shopping center,” which is located on Center Valley Parkway between Rt. 378 and Rt. 309/Interstate 78.
“Centennial will also provide leasing services for the shopping center and has selected MSC, a retail real estate consultancy and lifestyle expert with offices in Philadelphia, as its regional leasing partner,” the release said.
As of Friday, vacancies at the Promenade Shops did not yet appear to be listed on the MSC website, which lists dozens of properties in the Philadelphia and Allentown areas.
Formerly managed by Poag Shopping Centers of Memphis, Tenn., Poag said in a news release that in conjunction with the management transition, former Promenade Shops general manager Melissa Napolitano has been promoted within the company.
“Melissa has proven to be an incredibly valuable team member serving in various roles at The Promenade Shops at Saucon Valley for over 15 years,” said president and CEO of Poag Shopping Centers Josh Poag in the release.
After graduating from Penn State with a bachelor’s degree in communications, Napolitano worked for nonprofit organizations before beginning her commercial real estate career at the Promenade Shops when it first opened in 2006, the company said.
“Poag had a wonderful opportunity to serve the Saucon Valley community for several years through tenant curation and elevated programming,” said Poag Shopping Centers senior vice president of management and marketing Dean Shauger in a statement about the transition. “The center’s ownership recently elected to engage a new management partner. As the management of the center changes hands, Melissa is moving on to an elevated position within the Poag leadership team as Director of Corporate Marketing.”
Saucon Source requested information about why Centennial was hired to manage the Promenade Shops, however the only information provided was Shauger’s statement.
In recent years, the center’s retail occupancy rate has fallen, as many companies have shuttered brick-and-mortar locations or gone out of business entirely. Over the past two years, the COVID-19 pandemic has also helped to make online shopping more popular.
The Promenade Shops is home to approximately 80 retail units. Businesses that are located there include L.L. Bean, Fresh Market, Starbucks, American Eagle, Yankee Candle, Barnes & Noble, Bar Louie, Melt, Banana Republic, Chico’s and Old Navy.