Shoppingtown Mall
| Location | DeWitt, New York, USA |
|---|---|
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| Opening date | 1954 (as a strip mall, then enclosed in 1975) |
| Developer | Eagan Real Estate Inc. |
| Management | James Tull[1] |
| Owner | Moonbeam Capital Investments LLC |
| No. of stores and services | ~100 |
| No. of anchor tenants | 5 (2 open, 3 vacant) |
| Total retail floor area | 988,054 square feet |
| No. of floors | 1, plus partial upper level and partial basements |
| Website | http://www.shoppingtownmall.com/ |
Shoppingtown Mall is a regional shopping mall in Dewitt, New York, United States with approximately 100 stores, with Sears serving as the only anchor store. It has a food court and a fourteen-screen Regal Cinemas movie theater. Shoppingtown Mall is owned and managed by Moonbeam Capital Investments LLC.[2]
History
Shoppingtown opened as an open-air mall in 1954,[3][4] Shoppingtown Mall was one of Syracuse's first suburban shopping centers.[5] After expanding several times in the 1960s it was enclosed in 1975[6] and substantially remodeled in 1991.[5]
The mall was owned by Macerich, who acquired the mall from Wilmorite Properties in 2005, but was sold in 2011 to Macerich. Macerich managed the mall until 2012, when the new owners hired Jones Lang LaSalle to manage the mall.[7] In 2014, MoonBeam Capital Investments bought the mall for 13.6 million.
In January 2015, it was announced the Macy's store in Shoppingtown was closing as part of a plan to close 14 stores nationwide.[8]
In February 2015, Moonbeam Capital Investments said that they will demolish the Sears wing and turn it in to a strip mall. This has been halted because of tax issues. There is a high change that this demolition may never happen, there has been no word from the company in months.
JCPenney announced on January 7, 2016 that it will close the Shoppingtown Mall location on April 8, 2016.[9]
Decline
Shoppingtown is in trouble. Due to Destiny USA being close to Shoppingtown, the amount of consumer traffic in Shoppingtown is in decline. With Macys closed, Dick's Sporting Goods closed, and now J. C. Penney going to be closed, this is not good news for Sears. The smaller stores in Shoppingtown are mostly locally owned and operated. Shoppingtown's food court only has Doc's Pizzeria/Fish fry and Ming Wok.
Current anchors
- Sears
- J. C. Penney (Closing in April 2016)
- Regal Entertainment Group
Former anchors
- The Bon-Ton
- Media Play
- Dick's Sporting Goods (closed October 2015 and moved into the old Kmart Plaza next door)
- Macy's (closed in March 2015)
References
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- Official website
- Moonbeam Capital Investments LLC website
- Dowty, Douglas. (2014, July 15). "Why county taxpayers are forced to refund $2.4 million to ShoppingTown Mall's owner," The Post Standard
- Tampone, Kevin. (2013, September 24). "ShoppingTown Mall's new owner: 'This is a long-term play'," The Post Standard
- ↑ "Management Team," Moonbeam Capital Investments, LLC. Accessed: July 23, 2014
- ↑ ShoppingtownMall.com. Accessed: July 23, 2014
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- ↑ http://www.syracuse.com/business-news/index.ssf/2016/01/jc_penney_store_in_shoppingtown_mall_is_closing.html
