1982

In 1982, Schlesinger Companies was created under the guiding hand of its founder, James A. Schlesinger. Mr. Schlesinger, a licensed attorney and general contractor, served as a principal in one of the largest southeast Michigan commercial management companies, completing numerous major commercial construction and development projects dating back to 1977. The formation of the company coincided with the re-designing, retro fitting and remarketing of two vacant E.J. Korvette properties into arguably the first power centers in the U.S. These two centers included early prototypes of Burlington Coat Factory, Marshall's, Service Merchandise and Linens and Things.

1985

In 1985, Schlesinger Companies relocated to Coral Gables, Florida. In 1986, in conjunction with American Express as its partner, the company purchased the poorly received Midway Mall for $26 million. Although well located at the intersection of Flagler Street and the Palmetto Expressway (Rte 826), the mall suffered from poor management and development, resulting in a mere 10% occupancy and an overwhelming severe need for refurbishment and re-tenanting. Most importantly, it required a new face to the public since it was perceived as dangerous and out of step with other malls in South Florida. Schlesinger Companies as owner, general contractor and developer, refurbished the interior and exterior of the mall, redesigned critical structural elements, introduced water fountains, flags, and expanded the center, bringing an exciting new art deco look. The company proceeded to lease the vacant spaces to new tenants such as Marshall's, AMC Theatres, TJ Maxx and Linens and Things creating one of the first value malls in the U.S. The most difficult aspect remained; remarketing the mall to the growing young Hispanic market in West Dade County. Schlesinger Companies accomplished this through bilingual marketing with special events geared to the Latin shopper. In November, 1988, the mall grand opened, reintroducing itself as the Mall of the Americas. Mall of the Americas became an immediate success achieving 100% occupancy, $400 per square foot sales, and a national reputation as a successful turnaround. In 1994, Schlesinger Companies sold the mall to RREEF Funds for $77 million, the first time a national pension fund had purchased a Hispanic value center.

1987

In 1987, Schlesinger Companies repeated its success with Westview Mall, a deteriorating 800,000 square foot regional mall on the west side of Baltimore, Maryland. The mall was converted again into a value mall, with such tenants as Marshall's, TJ Maxx, Loews, and United Artist (Regal) Theatres adding to the existing mix. Schlesinger Companies sold the mall in 1991 to its partner, American Express.

1993

In 1993, Mr. Schlesinger formed Talisman Companies, LLC. Talisman's objective was to continue the business plan of the Schlesinger Companies, the purchasing of troubled, significant retail centers, in need of re-tenanting, refurbishment, redevelopment and re-marketing.

1994

In 1994, Talisman purchased the Roswell Town Center, a well-located but unused and nonfunctional 300,000 square foot "mini-mall" dating from the mid 1970's. Talisman de-malled the center expanding it to 500,000 square feet. Today, the center is a vibrant power center with a significant collection of national and regional discount power center boxes, including Burlington Coat, Hobby Lobby and Target. Windsor Square, Knoxville, Tennessee, was purchased in 1995, refurbished and expanded enjoying similar success.

1995

In 1995, Talisman purchased an empty mini-mall in Towson, Maryland, named Towson Marketplace, for $12 million. Over 400,000 square feet of space was added, including 17 major big box tenants. The center, now 680,000 square feet in size, is leased to such national discounters as Wal-Mart, Target, DSW, Bed, Bath & Beyond, Marshall's, TJ Maxx, Super Fresh, and Sport's Authority among others. It is recognized as the dominant power center in the mid-Atlantic region and sold in February, 2004 for $87 million to Kimco.

2000

In 2000, Talisman initiated its first foray into the outlet world with the purchase of Fashion Outlets of Las Vegas, a 370,000 square foot enclosed outlet mall.

2004

In 2004, Talisman Companies took over ownership of Cutler Ridge Mall, now Southland Mall, for $45 million, a 1,000,000 square foot regional mall located in Miami, Florida, and again embarked on an ambitious redevelopment and remarketing program. It was fully re-tenanted, the NOI increased from $4.4 million to $10.8 million, and sold in 2006 for $145 million. In 2004, Talisman Companies purchased the decaying Miracle Center, an early version of a life- style mall. Built in 1987, the Miracle Center was at one time a thriving center, but by the time of purchase, it had but one remaining tenant, Bally's. Talisman Companies embarked on a unique development plan which included removing the five floors within the mall and replacing them with three floors to gain the vertical height necessary for big box tenants. The mall is now leased to such tenants as Bed, Bath & Beyond, Marshall's, DSW, Michaels, Nordstrom Rack, PetSmart, Ulta, an expansion of Bally's Total Fitness, and numerous specialty uses and restaurants. The center is a prototype of urban retail in high income, densely populated areas.

2005

In 2005, Mr. Schlesinger purchased the Prime Outlet Center in Niagara Falls, New York for $62 million, from GMAC, which had foreclosed on the center in 2004. Although once a high volume, profitable outlet center, it had fallen on hard times with sales below $300 per square foot and an income at only $4 million. Within 30 months Talisman and Fashion Outlets refurbished the interior and exterior, put into place its dynamic marketing program, raised sales to $800 per square foot and net operating income to $12 million. Fashion Outlets of Niagara is currently the third highest volume outlet center in the U.S. It is projected that it will achieve $16 million in net operating income within the next three years. Please view Fashion Outlets of Niagara for further details.

2007

In late 2007, Fashion Outlets of Santa Fe was purchased for $9.3 million. The center, 152,000 square feet, was 50% vacant. Polo opened in April, 2008 and leases with such tenants as Nike, Brooks Brothers and an expansion of Coach have already been accomplished. Leasing is expected to be complete by 2009.