Home Depot buys Charlottesville Fashion Square Mall

0
65
Home Depot buys Charlottesville Fashion Square Mall

Best Choice

39" Slick wool wrap coat with exaggerated collar and tie belt

Adjustable button closure
Body welt pockets
Fully lined with logo lining
special size type: standard
weave type: Woven

Officials at Charlottesville Fashion Square Mall confirmed Wednesday that Home Depot, the Georgia-based home renovation big box retailer, has acquired Charlottesville Fashion Square Mall.

The sale does not include the Belk women’s storefront or the old JCPenneys store.

Officials stated that more than 30 tenants in malls will continue to be leased.

“We will keep the community apprised as plans develop,”Athena Emmans is the specialty leasing and marketing manager at the mall.

Home Depot is the largest retailer of home improvement products in the country and sells tools and construction products as well as appliances and services.

Its national competitor, Lowe’s has a retail outlet about a mile away from the mall location.

The mall is now home to a large COVID vaccination clinic, drive-through COVID-19 testing in the lot, and has hosted the annual Toy Lift Christmas Toy Drive in its lot.

People are also reading…

The latest in a series ownership changes at the once-bustling 570,000-square foot indoor shopping center is the sale.

Best Choice

Limited Lifetime Nobis Warranty,Premium Canadian Origin White Duck Down for ultimate warmth

Sympatex membrane laminated
Seam seal construction
Windproof and waterproof (10,000mm) - Breathable (10,000mm) outer shell

Fashion Square is no different to other retailers. This is despite the fact that increasing numbers of customers are using online sales to replace storefronts, and the year-long lockdown epidemic.

Built in the 1980s, the mall was once a major force in Central Virginia’s retail sales. Its popularity faded like other indoor malls throughout the country as more people switched to online shopping and many retailers left or went out of business between 2015 and 2021.

Simon Property Group bought the mall in 1997. It was assigned to Simon’s spin-off company, Washington Prime Group, in 2014. The spin-off company held Simon’s strip center business and smaller enclosed malls.

The company was merged into Glimcher Realty Trust in January 2015. It became WP Glimcher.

Fashion Square secured a mortgage loan in late 2019. The borrower informed the lender that future cash flows would not be sufficient to meet the mortgage loan’s requirements.

Following a request from Midland Loan Services, Fashion Square’s special servicer, a judge approved the appointment.

The lender bought the mall at an auction in 2021 after the business had defaulted on the loan.

It was last owned by Charlottesville JP2014-C21, LLC, an Virginia corporation with its agent in Overland, Kansas.

Hot Topics

Coach Outlet Sale, 80s fashion trends are back, 90s fashion hip-hop style
Source link

HALSTON Women's Drop Waist

Badgley Mischka Women's Cowl Back Sequin Classic Gown

Tony Bowls A-Line Gown 11307

4.5/5
4.5/5
5/5

NO COMMENTS

LEAVE A REPLY

Please enter your comment!
Please enter your name here