About Todreas Hanley Associates

Todreas Hanley Associates (THA) is an urban retail real estate consulting and brokerage firm with considerable experience in developing reality-based revitalization strategies for properties in downtowns and neighborhood commercial districts. Revitalization of public places, mixed-use development and the re-use of historic structures are our special expertise. The Associates use their market knowledge to assist developers, architects, and municipalities design optimal business conditions so that properties, streets, or centers will attract the desired tenants and their customers.

THA is in the forefront of creativity and innovation in retail development, while maximizing returns for investors. THA works to transform outdated districts, town centers, and shopping centers into thriving and productive real estate.

The firm evaluates the market conditions of each project and location to determine realistic market support and to identify niches for new uses that fit with the changing social, economic and cultural trends of the times.

In addition to working with many towns and cities, THA's broad experience extends from specialty and life style retail and entertainment centers for private sector developers to student centers and mixed-use real estate projects for universities and financial institutions. The Associates have worked with national, regional, and local tenants and developers on a variety of projects nationwide.

Through continual marketing and leasing of properties for tenants and developers, the firm has first hand knowledge of tenant needs and retail industry standards. This means that recommendations to municipalities, developers, and architects are feasible, with realistic goals, budgets and economic projections.

Some specific retail development  issues that THA can help with to strengthen a town center and commercial district or a declining shopping center are :

  • trade area and market position
  • competitive market niche
  • marketing strategies for business development
  • updated tenant mix
  • improvements for existing tenants
  • leasing strategies and  updated leasing concepts
  • barriers to development, such as zoning or other
    public policies, physical and access barriers
  • empty storefronts
  • landlords, tenant, and civic responsibilities

Professional Associations

  • National Trust for Historic Preservation
  • International Council of Shopping Centers
  • Massachusetts Association of Consulting Planners
  • Massachusetts Licensed Real Estate Brokers
  • SOWMBA Certified
  • Massachusetts Department of Housing and Community Development:
    Certified Executive Order 418 Economic and Market Consultant
  • Massachusetts Department of Housing and Community Development:
    Certified Downtown Initiative Program Consultant.
National Trust for Historic Preservation Logo
International Council of Shopping Centers Logo

Resumes of Key Personnel

Carol Todreas, Principal

Carol Todreas

As founder of Todreas Hanley Associates, Carol Todreas has managed retail planning, marketing, and leasing projects with a focus on downtown streets and neighborhood centers.  With keen insight and hands on knowledge of the retail development industry, she has created a reality-based approach to retail market analysis and tenant recruitment that assists developers and municipalities to understand their changing markets and opportunities for growth in downtowns and mixed-use commercial districts.

Her experience with retail, entertainment, cultural, and recreational tenants has been key to developing viable concepts for marketing and leasing of such diverse projects as The Ray and Maria Stata

Center for Computer, Information, and Intelligent Sciences at MIT in Cambridge, MA; The Strand Historic District in Galveston, Texas; and the Designers Outlet Gallery in Secausus, N.J. Her special expertise is retail tenant types, tenant mix, and markets. 

Carol was formerly a Preservation Planner for the Boston Redevelopment Authority and worked on the initial legislation for the Boston Landmarks Commission.  Following that, she worked for The Rouse Company as Director of Communications for Faneuil Hall Marketplace in Boston, MA.  From this challenging position grew an appreciation of the varied challenges of urban retail development, particularly in older downtowns and historic districts.

Later, moving to Paris, Carol served as Marketing  Consultant for  Societe des Centres Commerciaux, one of Europe's most prestigious retail developers. 

There she introduced  American marketing and merchandising techniques and was involved in planning community and tenant relations programs for American style shopping centers in Paris and Lyon, France, and Brussels, Belgium.

While in Europe, she participated and was active in the development and promotion of the European International Council for Shopping Centers. During this period and since then she travels throughout the continent studying the characteristics of downtown retail districts: their markets, tenant mix, and place making factors.

Jivan Colabawalla, Principal

Jivan Colabawalla

Jivan is a retail real estate and leasing specialist. A skillful strategist and negotiator, Jivan has diverse experience in business and finance that allows him to arrive at equitable and profitable solutions for all parties involved. Among other strengths is his proficiency at assessing retail markets and urban real estate.

Following a career in the airline industry, with major European, Asian and African airlines he immigrated to the United States in 1981. Upon his arrival Jivan managed a three store regional retail chain in Houston, TX. In 1989, he opened and operated his own retail outlet stores in Texas and later, in collaboration with Carol Todreas, expanded the business to Lexington, KY.

His broad retail business experience has helped provide realistic retail plans and tenant recruitment programs for the Town of Pulaski, VA, as well as programs for the Massachusetts municipalities of Norwood, Wellesley, and Lowell. His adroit leasing abilities and knowledge of tenant requirements for downtown locations has led to successful leasing for such challenging projects as TowerSquare in Springfield, MA, where he leased over 85,000 square feet of retail space that initiated the revitalization of the downtown.

One of his notable accomplishments was the strategic marketing of a long-defunct 300,000 square-foot mill building in Windsor Locks, CT that had been on the market for eight years without a solid bid. Working with the Economic and Industrial Development Commission, the absentee owner, and a well-known Boston developer, he accomplished the goal to place the property under a Purchase and Sale Agreement within a scheduled commitment of eight months.

Another arduous achievement was leasing a historic, vacant, and non-functioning property in downtown Lowell, MA to a new national restaurant chain. This complex transaction required lengthy negotiations with a downtown property owner, the Lowell Economic Development Agency, and the tenant.  Jivan provides real estate consultanting services to developers interested in private investment in New England downtowns.  Under his aegis, one developer has recently purchased three older buildings in Dorchester and is in the process of purchasing a downtown building in Manchester, NH.

Susan Mills

Susan Mills, Marketing

Susan Mills, a licensed real estate professional, has over twenty years of advertising, marketing, and public relations experience. Providing expertise to diverse markets, she has worked with retail property developers, educational institutions, and non-profit organizations to develop and implement strategies to create identity, enhance name recognition, and update corporate image.

Before joining THA, Susan worked for Terranomics Retail Real Estate in San Francisco, where she coordinated marketing and advertising campaigns for a number of shopping centers and urban redevelopment projects, including The Grove at Shrewsbury, NJ; Winrock in Albuquerque, NM; and Jack London Square in Oakland, CA. Working with Merritt Sher, one of the country’s leading real estate innovators, Susan learned the best practices for the revitalization of shopping centers and downtown districts.
Susan began her career at The Sierra Club National Headquarters in San Francisco as the assistant to the Director of Public Affairs where she had the opportunity to work with national media outlets to provide the Sierra Club’s position on environmental issues. Moving from the nonprofit sector, Susan was the Creative Director for Working Images, a California-based public relations and advertising firm that worked with corporate, educational, and nonprofit clients. Their key projects included providing public relations strategies for recycling companies and they worked with the City of Manhattan Beach, CA to develop their initial recycling campaign.

With her combined experience and a lifelong interest in urban planning and the creative use of space, Susan brings THA an in-depth understanding of the synergy between location and tenant mix, strong public relations and problem-solving skills, research capability, and a persuasive writing talent that support the development of effective marketing campaigns.

Marc Older

Throughout his professional career Marc Older has worked in the areas of planning and development in both the public and private sectors. His degrees in Economic Geography from Antioch College and Regional Planning from Harvard University, provided him with the ability to approach economic development issues from a wide variety of technical and planning approaches.  
His public work included design and structuring of new town for The Rouse Co. and the Commonwealth of Puerto Rico.  His experience with existing communities comes from 15 years with the Boston Redevelopment Authority (BRA). 
At the BRA he developed neighborhood plans and advised on all zoning decisions for four of Boston's neighborhoods and managed the process that produced Boston's "Local Growth Policy".  He served as Development Coordinator for Boston's downtown andrapidly growing Fort Point Channel area.
Marc was a principal author of Boston's Harborpark Plan which set the tone for waterfront planning and development and, as the first Director of the BRA's Harborpark Office, he coordinated planning and development throughout Boston's waterfront. He finished his public career as Deputy Director of Planning and Neighborhood Development.
In 1987 he left the public sector to become vice president of Akira Yamashita and Associates, Inc. (AYA), a Boston based design and development consulting firm.  At AYA he has managed a series of mixed use planning efforts in the United States and Japan covering over three thousand acres of land and with ultimate development costs of several billion dollars. 
With the decline of the Japanese economy he again focused his efforts on Massachusetts where he prepared the economic development and other sections of master plans for four towns.