Management of the estimated 400,000-square-foot plaza changed this summer, and the owner wants to get closer to market rates for the space in the plaza, which has become home for many locally owned businesses over the past decade.

Kyle McFarland, director of property management for South Bend-based Holladay Properties, says there will be turnover at the plaza if new terms can’t be worked out with tenants as leases expire over the next year or so.

McFarland says higher rates at Town & Country will allow the owner, an individual who lives in Europe, to ultimately maintain and invest money in the plaza, which also includes a variety of national and regional retailers and restaurants such as Kroger, Dunham Sports, Dollar Tree, Harbor Freight Tools and others.

Without investment, the plaza is likely to eventually slip into oblivion, even though there is considerable traffic passing by the shopping center each day. What’s sad about the change is that local stores and restaurants are likely to be most impacted by rent increases.