Blue Ocean has signed Pricebusters Furniture to a 30,000-square-foot lease at Security Square Mall.
The company said in a statement that the lease marks the first major step in renovating the 180,000-square-foot shopping center it purchased more than a year ago. The building was a former free-standing JC Penney store but was turned into a Korean-themed shopping center in 2002.
Blue Ocean said it has a five-year plan to rehab the shopping center, which will include overhauling the exterior and redoing the common areas. It did not disclose how much it plans to invest in the property.
“Security Square South has enormous potential,” Blue Ocean President Jonathan Ehrenfeld said in a statement. “Bringing out that potential is long overdue and we are eager to see it through.”
The space Pricebusters Furniture will take over was occupied by Grand Village Mart.