Cafaro

What Cafaro does

Cafaro is a privately held commercial real estate developer and property manager founded in 1949 in Youngstown, Ohio, by brothers William M. and John Cafaro. Today it operates as one of the largest privately held shopping center developers in the United States, with a portfolio of more than 50 retail properties spanning 14 states and over 30 million square feet of developed space. Its holdings are anchored by super-regional enclosed malls including Eastwood Mall Complex in Niles, OH (3.4 million sq ft, 16.2M annual visitors), Millcreek Mall (2.2 million sq ft), Huntington Mall, Grand Central Mall, Kennedy Mall, Kentucky Oaks Mall, Ohio Valley Mall, Meadowbrook Mall, Governor's Square Mall, South Hill Mall, and the Mall of Monroe, supplemented by power centers, strip plazas, and lifestyle centers. The company is led by third-generation family Co-Presidents William A. Cafaro and Anthony Cafaro, Jr., and is legally organized as Warner Management Company LTD, headquartered in Niles, Ohio.

The company generates revenue primarily through long-term lease agreements with anchor tenants (Macy's, JCPenney, Target, Boscov's, Dick's Sporting Goods, Dillard's, Best Buy, Burlington) and specialty retailers, priced per square foot on multi-year contracts. Supporting revenue streams include property management fees, short-term specialty leasing of kiosks and Retail Merchandising Units to entrepreneurial tenants, and sponsorship / marketing partnerships with local businesses. Go-to-market is sales-led through an in-house leasing team of senior VPs and leasing directors covering both the Midwest and the West Coast (Washington state office opened 1987), supplemented by an on-site marketing professional at each property. The company actively seeks acquisitions meeting specific criteria (600,000+ sq ft GLA, $300+/sq ft sales, 200,000–450,000 trade area population) and in October 2025 acquired Grand Central Mall in Vienna, WV.

Cafaro has begun diversifying beyond traditional retail real estate. In 2022 it broke ground on Attain at Towne Centre (271 luxury apartments in Fredericksburg, VA) and Villas at Sandy Creek in Sandusky, OH — its first residential developments — and in February 2026 appointed a Chief Marketing Officer (Esther Buschau) to professionalize its tenant-traffic marketing function. The portfolio is being actively repositioned with experiential and entertainment tenants, including Dave & Buster's (opened 2024–2025 at three locations), Phoenix Theatres luxury cinemas, Golden Ticket Cinemas, and a forthcoming Bass Pro Shops at Kentucky Oaks Mall in 2027. Adjacent assets include the 6,400-seat 7 17 Credit Union Field at Eastwood (home of the Mahoning Valley Scrappers) and the 30,000 sq ft Eastwood Event Centre.

Name

Cafaro

Legal name

Warner Management Company LTD

Website

https://cafarocompany.com

Company type

Private

Founded year

1949

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Cafaro is a privately held commercial real estate developer founded in 1949 that owns and manages more than 50 shopping center properties spanning 14 states and over 30 million square feet, leasing space primarily to national anchor retailers (Macy's, Target, JCPenney) and specialty tenants. Third-generation family leadership has begun diversifying into residential and mixed-use development.

Ownership category

akta.pro rank

Product category

Commercial Real Estate (Shopping Center Development & Management)

akta.pro primary industry

Retail Brokerage (BPAJABAB)

Keywords

• Shopping center development
• Commercial real estate leasing
• Retail property management
• Mall acquisitions investment
• Mixed-use property development

Headquarters

HQ city

Niles

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Marketing or Sales, Supply Chain

Revenue model

1. Commercial Real Estate Leasing: Revenue is generated through leasing retail space to anchor tenants (department stores, big-box retailers) and specialty retailers at company-owned shopping center properties. Rent is typically charged on a per-square-foot basis with varying lease terms.
2. Property Management Fees: Management fees from operating the shopping center properties, including common area maintenance, tenant services, and facility operations.
3. Specialty Leasing: Short-term and seasonal leasing of kiosks, RMUs (Retail Merchandising Units), and inline storerooms to entrepreneurs and small retailers testing the market.
4. Sponsorship and Marketing Partnerships: Revenue from local businesses and corporate partners sponsoring mall programs and amenities such as children's play areas and soft-seating areas.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Cafaro develops, owns, leases, and manages a portfolio of more than 50 retail shopping center properties (enclosed super-regional malls, power centers, strip plazas, and lifestyle centers) totaling over 30 million square feet across 14 U.S. states. Its core commercial offering is the leasing of anchor and inline retail space to department stores, big-box retailers, specialty retailers, dining operators, and entertainment venues, supplemented by specialty/kiosk leasing for entrepreneurs and mall sponsorship/partnership programs.

Product overview

Cafaro is a privately held shopping center developer and property management company founded in 1949, operating as one of the nation's largest middle-market mall developers. The company's portfolio encompasses more than 50 retail properties and has developed over 30 million square feet of space across 14 states. Its core offering is the Cafaro Properties mall portfolio — a mix of enclosed super-regional malls (including Eastwood Mall Complex, Millcreek Mall Complex, Huntington Mall, Grand Central Mall, Kennedy Mall, Kentucky Oaks Mall, Ohio Valley Mall, Meadowbrook Mall, Governor's Square Mall, South Hill Mall, Sandusky Mall, and The Mall of Monroe), power centers, strip plazas, and lifestyle centers. Supporting services include Specialty Leasing (kiosk and temporary retail space), mall marketing services, and sponsorship programs. Cafaro has also diversified into residential real estate with mixed-use developments such as Attain at Towne Centre (271 luxury apartments in Fredericksburg, VA) and Villas at Sandy Creek (luxury residential at Sandusky Mall Complex), as well as entertainment venues including 7 17 Credit Union Field at Eastwood (a 6,400+ seat baseball stadium home to the Mahoning Valley Scrappers) and the Eastwood Event Centre. The company is led by third-generation Co-Presidents William A. Cafaro and Anthony Cafaro, Jr.

Differentiator

Problem solved

Functional benefit

Products and services

• Cafaro Properties (Shopping Center Portfolio) A portfolio of more than 50 retail shopping center properties across 14 U.S. states — including enclosed super-regional malls (Eastwood Mall Complex, Millcreek Mall, Huntington Mall, Governor's Square Mall, Kennedy Mall, Meadowbrook Mall, Grand Central Mall, Kentucky Oaks Mall, Ohio Valley Mall, The Mall of Monroe, Spotsylvania Towne Centre), power centers, strip plazas, and lifestyle centers — developed, leased, and managed by Cafaro. Customers include anchor tenants (Macy's, Target, JCPenney, Boscov's, Dick's Sporting Goods, Best Buy, Dillard's, Burlington), specialty retailers, dining operators, and entertainment venues.
• Specialty Leasing Program Short-term, flexible mall-based leasing of kiosks, Retail Merchandising Units (RMUs), and inline storerooms inside Cafaro shopping centers, designed for entrepreneurs, local retailers, and small businesses seeking low-risk entry to mall retail. Tenant requirements include operating during mall hours, providing a certificate of liability insurance and security deposit, and using professionally printed signage; Cafaro provides the RMU based on availability.
• Eastwood Event Centre A 30,000 square foot event facility incorporated into the Eastwood Mall Complex in Niles, Ohio, offering flexible meeting space with seating for approximately 1,000, designed to host major social and business events. The facility is operated by Cafaro and serves event organizers seeking a venue within a major super-regional mall destination.
• Attain at Towne Centre (Luxury Apartments) A 271-unit luxury apartment community developed across two four-story buildings adjacent to Spotsylvania Towne Centre in Fredericksburg, Virginia — Cafaro's first mixed-use residential development in the region, targeting renters who want to live adjacent to a major shopping, dining, and entertainment destination.
• Villas at Sandy Creek A luxury residential community developed as an integral element of the Sandusky Mall Complex in Sandusky, Ohio, representing Cafaro's diversification into residential property development adjacent to its retail centers.
• 7 17 Credit Union Field at Eastwood (Eastwood Field) A 6,400+ seat baseball stadium within the Eastwood Mall Complex in Niles, Ohio, home to the Mahoning Valley Scrappers of the MLB Draft League. The venue also accommodates approximately 10,000 spectators for concerts and special events, operated by Cafaro as part of its mixed-use entertainment offering.

Quantifiable outcome

• Eastwood Mall Complex attracts over 16.2 million visitors annually
• +3 more outcomes

Named customers17 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Ten partnerships are on record, tiered core and minor.

• Target CorporationcoreStrategic or Co-development Partner · 1 January 1987Target Corporation asked Cafaro to develop shopping centers in the Pacific Northwest in 1987. This partnership led to the opening of Cafaro's west coast office in Washington state and development of properties like South Hill Mall in Puyallup, WA.
• LG Electronics / LG ChemminorOthersLG Electronics employs over 1,000 people in the Clarksville area (Governor's Square Mall trade area). LG Chem signed a $19 million deal to supply GM with EV battery components creating 800+ jobs. Korea Zinc is investing $6.6 billion in new production facilities making this the largest single private investment in Tennessee history.
• Amazon, Hankook Tire, Microvast, TraneminorOthersMajor industrial developments in the Clarksville/Fort Campbell trade area include Amazon, Hankook Tire (doubling production, becoming largest private employer), Microvast, and Trane. Fort Campbell military complex is home to 38,000+ personnel and is the largest employer in both Tennessee and Kentucky.
• Kimberly-ClarkminorOthersKimberly-Clark is constructing a 1 million square foot manufacturing plant nearby the Eastwood Mall Complex. Part of a $2 billion U.S. expansion with $800 million earmarked for the facility that will employ nearly 500 people.
• Form Factory 1 - Form EnergyminorOthersAdvanced battery manufacturer Form Factory 1 - Form Energy is investing $760 million in a new production facility near Ohio Valley Mall, creating at least 750 new jobs in the region.
• 7 17 Credit UnionminorStrategic or Co-development Partner7 17 Credit Union signed a naming deal for Eastwood Field (home of Mahoning Valley Scrappers). The ballpark will now be called 7 17 Credit Union Field at Eastwood.
• Phoenix TheatresminorStrategic or Co-development PartnerPhoenix Theatres operates luxury cinema locations at multiple Cafaro properties including Governor's Square Mall (opened May 2025), Kennedy Mall, and Mall of Monroe. Features massive screens, heated recliners, reserved seating and Dolby Atmos sound.
• Dave & Buster'sminorStrategic or Co-development PartnerDave & Buster's entertainment venues opened at Eastwood Mall (January 2025 - 23,000 sq ft), Huntington Mall (2024), and Governor's Square Mall (2024). Combines arcade, restaurant, bar, and party rooms.
• Golden Ticket CinemasminorStrategic or Co-development PartnerGolden Ticket Cinemas operates the newly remodeled movie theater at Ohio Valley Mall (opened November 2025). Provides luxury theater experience with state-of-the-art projection, sound technology, and reclined seating.
• Mall Tenants - National RetailerscoreOthersMajor anchor tenants include Macy's, Dick's Sporting Goods, JCPenney, Target, Dillard's, Burlington, Ross Dress for Less, Belk, Best Buy, Boscov's, and others. These tenants serve as primary traffic drivers for shopping centers.

Scale indicators11 records

Recent moves9 records

Expansion highlights5 records

Broad incumbents

• Simon Property Group: Largest US publicly traded REIT focused on retail real estate, including super-regional malls and premium outlets. Comparable to Cafaro in shopping center operations but operates at far greater scale with institutional capital access.
• Brookfield Property Partners: Major global real estate operator with significant US mall portfolio. Comparable to Cafaro in retail real estate ownership and management but operates across property types (office, multifamily, retail) at institutional scale.

Direct peers

• Macerich: Publicly traded REIT focused on regional and super-regional malls. Most directly comparable peer to Cafaro given similar property size, anchor tenant strategies, and middle-market positioning.
• CBL & Associates: Mall REIT operating enclosed regional and super-regional malls across secondary and tertiary US markets—highly comparable geography and tenant mix to Cafaro's middle-market focus.
• Taubman Centers: Publicly traded REIT focused on super-regional malls. Comparable in property format, anchor tenant mix, and developer/operator model to Cafaro, though Taubman targets higher-tier markets.
• Brixmor Property Group: Publicly traded REIT focused on open-air shopping centers rather than enclosed malls. Comparable retail real estate operator with similar middle-market tenant strategy and grocery-anchored properties.
• SITE Centers (formerly DDR): Publicly traded REIT focused on open-air shopping centers. Comparable to Cafaro in retail leasing operations and middle-market positioning but focused on power centers rather than enclosed malls.
• Phillips Edison & Company: Publicly traded REIT focused on grocery-anchored neighborhood shopping centers. Comparable retail real estate operating model with similar middle-market tenant and anchor strategies.
• Washington Prime Group: Mall REIT focused on super-regional enclosed malls in middle-tier markets. Closely comparable to Cafaro in property type, market positioning, and tenant strategy before its 2021 restructuring.
• RPT Realty: Publicly traded shopping center REIT focused on open-air and grocery-anchored centers in select US markets. Comparable in retail real estate operating model and middle-market positioning to Cafaro.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/415899058603911
• LinkedInlinkedin.com/company/cafaro-company

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cafaro