3R Development Partners
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3R
Real Estate Repositioning · Retail Specialists

We turn underutilized retail
into the most valuable
real estate in the market.

3R Development Partners reimagines, revitalizes, and redevelops real estate with untapped potential — with deep specialization in retail and the mixed-use redevelopment that brings it to life. We work as principal developers and as advisors to the owners, lenders, and municipalities who own the opportunity.

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$2B+
Total Project Value
20+
States
$500M+
In Value Created
3M+ SF
Repositioned
What We Do

Underperforming real estate isn't dead. It's undervalued.

We specialize in the hardest repositioning in the market — retail — and the mixed-use redevelopment that unlocks it. The same discipline applies wherever real estate is falling short of its potential.

01 / Reimagine

Reimagine

We see the center the market has written off and identify the use, the anchors, and the structure that unlock its real value.

02 / Revitalize

Revitalize

We assemble the capital, the partners, and the public support to make the plan financeable — and real.

03 / Redevelop

Redevelop

We execute — entitlements, anchor leases, JV structure, and construction — through to a stabilized, higher-value asset.

Retail-Led. Mixed-Use at the Core.

Every redevelopment is more than retail.

The repositioning that resets an underperforming asset's value is rarely retail alone — it's mixed-use. Knowing what to build alongside the retail, and how to make the combined program pencil, is the difference between a center that limps along and one that's transformed. We bring deep, hands-on experience across every product type a modern redevelopment demands, layering them into a single asset to multiply its value.

RetailThe core discipline — anchors, junior anchors, merchandising, and repositioning.
Mixed-UseThe engine of value creation — integrating complementary uses into a single, denser, higher-performing campus.
MultifamilyResidential density that brings rooftops, demand, and round-the-clock activity to a site.
Self-StorageAdaptive-reuse conversions that monetize space the retail market won't absorb.
HospitalityHotel components that anchor a destination and lift the surrounding program.
Office & MedicalClass A and medical office that diversify income and daytime traffic.
Who We Work With

Three parties. One underused asset.

The owner, the lender, and the city are all standing around the same underperforming center. We work with each of them.

Owners & Landlords

Turn the liability into an asset

Sitting on an underperforming center or a dark anchor? We turn the drag on your balance sheet into a repositioned, income-producing asset — as your development partner or your advisor.

Lenders & Special Servicers

Protect and recover value

When retail collateral goes sideways, we provide developer-grade workout strategy, repositioning plans, and execution to protect and recover value.

Cities & Public Partners

Bring it back to life

A dead mall drains your tax base and your community. We bring the development experience and public-private partnership track record to bring it back.

Our Work

Proof, not promises.

Our principals have led the repositioning of some of the most challenging retail assets in the country — failing malls, dark anchors, and obsolete centers transformed into thriving, higher-value real estate.

Sherwood Mall mid-transformation into a grocery-anchored power center, Stockton, CA
Stockton, CA

Sherwood Mall

The Challenge
A failing enclosed shopping mall with declining occupancy and no clear path forward.
What We Did
Converted into a grocery-anchored power center, with a portion of the structure adaptively reused as climate-controlled self-storage — unlocking value from space the market had written off. Directed the project end to end, from initial lease negotiations through construction and delivery.
The Result
~350,000 SF transformed; re-anchored by Sprouts, Burlington, Best Buy, HomeGoods, Dick's Sporting Goods, and ULTA — plus a new self-storage income stream.
Flatiron Crossing mixed-use redevelopment at dusk, Broomfield, CO
Broomfield, CO

Flatiron Crossing

The Challenge
An outdated outdoor entertainment village adjacent to a major regional mall, underperforming its location.
What We Did
Reimagined as a mixed-use campus — multifamily, Class A office, dynamic public space, and a food-and-beverage hub. Full scope from market analysis through JV structuring, public-incentive negotiation, and constructability.
The Result
A redevelopment of roughly $500MM in projected value, supported by a public incentive package approaching $100MM.
Life Time at Biltmore Fashion Park, Phoenix, AZ
Phoenix, AZ

Biltmore Fashion Park

The Challenge
An iconic but pure-retail center with room to evolve into something more valuable.
What We Did
Led the addition of Lifetime as the eastern anchor — the catalyst beginning the asset's evolution into an integrated mixed-use campus. Scope included lease negotiation, entitlements, design coordination, and project management.
The Result
Anchor secured and a reimagined master plan set in motion that continues to shape the property today.
Dave & Buster's anchoring the former Sears box at Vintage Faire, Modesto, CA
Modesto, CA

Vintage Faire — Sears Redevelopment

The Challenge
A vacant 120,000 SF Sears box dragging on a dominant regional center.
What We Did
Converted the dark anchor into a full-size Dick's Sporting Goods and a Dave & Buster's — a clean anchor-replacement play. Scope from master planning and due diligence through underwriting and design management.
The Result
120,000 SF of dead anchor space returned to productive, traffic-driving use.
Everett Mall - repositioned retail and entertainment hub, Everett, WA
Everett, WA

Everett Mall

The Challenge
A functionally obsolete enclosed mall north of Seattle, losing relevance in its market.
What We Did
Reconceived as a retail and entertainment hub. Our principals held project-executive responsibility — negotiating agreements with every stakeholder, anchor leases, design management, feasibility, and underwriting.
The Result
~300,000 SF repositioned and re-anchored by Trader Joe's, TopGolf, Regal Cinemas, At Home, and Burlington.
Beyond the Featured Five

A deeper track record.

Our principals' broader portfolio spans some of the most ambitious mixed-use densification and mall transformation in the country.

Provo, UT · In Progress

Provo Towne Centre

Enclosed mall being transformed into a mixed-use center — integrating retail, multifamily, office, medical, and hospitality into a reimagined campus.

Scottsdale, AZ

Scottsdale Fashion Square

Mixed-use densification of an iconic retail campus, anchored by the Caesars Republic — a luxury hotel integrated into one of the country's premier shopping destinations.

Phoenix, AZ

Paradise Valley Mall

Complete transformation into a mixed-use campus — Whole Foods, Harkins, Lifetime, multifamily, office, medical, and hospitality. $500MM+ project

Glendale, AZ

Arrowhead Towne Center

Evolving a dominant regional center beyond retail — introducing new uses to densify the campus and extend its life as a destination.

And more.

Two decades of redevelopment across 20-plus states.

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Anchors & destinations we've worked with
Target
Whole Foods
Trader Joe's
Lifetime
TopGolf
Sprouts
Dick's Sporting Goods
Caesars Republic
Harkins
Burlington
TJX
Ulta Beauty

Just some of the retailers and destinations we've partnered with — our full track record runs much deeper.

Services

Two ways to work with us.

As Your Developer

Development Partner

We take principal or co-development roles in repositioning underperforming retail — underwriting the deal, structuring the JV, securing anchors and entitlements, and executing through construction to a stabilized asset.

As Your Advisor

Advisory & Consulting

For owners, lenders, special servicers, and municipalities: developer-level advisory — repositioning strategy, feasibility, workout and recovery planning, anchor and merchandising strategy, and public-private partnership structuring. Execution-ready guidance from people who have done the work.

—Underperforming & Distressed Assets

Our core. Tired malls, dark anchors, greyfield sites, and special-servicer situations — the complex assets others walk away from are the ones we know best.

—Anchor Backfill & Replacement

From dark box to traffic driver. We source, negotiate, and deliver the anchors that reset a center's trajectory.

—Mall Transformation & Mixed-Use

Enclosed mall to integrated campus — retail, residential, office, hospitality, and medical in one value-creating plan.

—Adaptive Reuse

Converting obsolete space — self-storage, distribution, alternative uses — to unlock value the original design never captured.

—Public-Private Partnerships

Structuring the incentives, entitlements, and community support that make complex urban redevelopment financeable.

—Development & Project Management

End-to-end execution — lease negotiation through construction management — with institutional discipline on budget, schedule, and risk.

About 3R

Institutional-grade experience. Boutique focus.

3R Development Partners is built around a single conviction: underperforming real estate isn't dead — it's undervalued.

Our principals have led more than $2 billion in retail and mixed-use redevelopment across 20-plus states — inside publicly traded REITs, private equity, and as principal developers.

We bring that experience to a focused, senior-level practice: when you work with 3R, you work directly with the people who have actually executed transformations like yours.

We work nationally from our base in the mountain west, and scale each engagement through a trusted network of capital partners, design and construction professionals, and specialty consultants — assembled to fit the project rather than carried as overhead. It keeps us senior, nimble, and aligned with our clients.

Retail is our specialty — the most complex repositioning in the market — and mixed-use is how we unlock it. Our principals' redevelopments span the full range of product types a modern project demands, from multifamily and Class A office to hospitality, medical office, and alternative uses. That depth across uses — and across the full spectrum of complex, underperforming real estate — is what lets us unlock value others can't.

Founding Partner

Justin Long

Justin Long founded 3R Development Partners to do one thing exceptionally well: take on underperforming and overlooked real estate — with a specialty in the hardest of it, retail — and reposition it into something far more valuable. His career spans more than $2 billion in project value across 20-plus states and the full institutional spectrum of commercial real estate.

He led the development and construction group at Brixton Capital, a private equity real estate firm, driving mall-to-power-center and mixed-use repositioning across the portfolio. Earlier, he held development leadership roles at two publicly traded REITs — Macerich (NYSE: MAC), where he led mixed-use densification at marquee assets including Flatiron Crossing, Scottsdale Fashion Square, and Paradise Valley Mall, and CBL Properties (NYSE: CBL).

Over his career he has personally negotiated anchor and junior-anchor leases with Target, TopGolf, Trader Joe's, Sprouts, Burlington, At Home, Dick's Sporting Goods, and Old Navy — the deals that determine whether a repositioning succeeds.

MBA, Finance B.S. Real Estate, cum laude PMP Certified GlobeSt Retail Influencer, 2023 ULI Technical Assistance Panels

Tell us about your asset.

Whether you're an owner, a lender, or a city, the conversation starts the same way — with the property and its potential. Send us the basics and we'll come back with a point of view.

Location
Phoenix, Arizona · Working nationally
Email
jlong@3rdevpartners.com
Connect
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