H&M signs for Chesterfield Towne Center as Rouse reworks the asset

Rouse Properties Inc. purchased Chesterfield Towne Center about 12 months ago, and have signed a lease agreement with H&M.

Rouse Properties has signed H&M to Chesterfield Towne Center, the Richmond, Virginia centre it acquired in late 2013, in a lease that signals a broader repositioning of the asset rather than a single tenant addition.

The Swedish fast-fashion retailer will take 22,000 sq ft and is scheduled to open in late 2015. Chesterfield is one of three Rouse centres set to add H&M, which indicates the operator is using the brand as a repeatable anchor across its portfolio.

The deal sits alongside new agreements with Nestlé Café, Journeys Kidz and Grimaldi’s Pizzeria, plus renewals and renovations involving Finks Jewelers, Justice and Hollister. Grimaldi’s will be the first tenant in a planned restaurant pavilion built around an outdoor fireplace and exterior hardscape.

Interior renovations, new lighting and soft seating throughout the centre point to an upgrade aimed at defending co-tenancy and footfall. For Rouse, pairing a value fashion anchor with a food and beverage pavilion reflects the standard mid-2010s playbook for keeping regional centres competitive.