As an initial part of this strategy, Grimes says that RPAI aims to spend about $350 million to ramp up three assets that are ripe for higher density: One Loudoun Downtown and Carillon (both in Washington, D.C.), and Circle East (Towson, Md.). At the 468,000-square-foot, mixed-use One Loudoun, RPAI and investment partner Kettler, of McLean, Va., are adding on about 70,000 square feet of retail and office space and nearly 400 apartments. At Carillon (formerly the open-air Boulevard at the Capital Centre), RPAI demolished about 300,000 square feet of vacant gross leasable area last summer  to make way for 100,000 square feet of medical offices and about 350 multifamily rental units. And the firm is negotiating with food, health, beauty, fitness and other chains that seek to join the redevelopment of Circle East, where move-ins to nearly 400 AvalonBay Communities–owned apartments are set to begin.

These days mixed-use and lifestyle centers account for about one-third of RPAI’s 104-property portfolio; the rest comprises primarily neighborhood and community centers with a high ratio of in-line tenants to anchor stores, according to Grimes. “Having more small-shop space gives you greater opportunity to diversify your tenant base and provide a different type of an offering,” he said. RPAI has also sought to keep lower-performing retailers off its top 20 list of tenants. Last October at The Shoppes at Union Hill, in Denville, N.J., RPAI replaced Pier 1 Imports with specialty grocer Trader Joe’s. At the mixed-use Main Street Promenade, in Naperville, Ill., the firm backfilled a vacant J.Crew with a Lululemon Athletica, in a deal announced last November.