Coronado Center opened in March 1965 as an open air mall, and was developed by Homart Development Company, the mall-building subsidiary of Sears. It was remodeled in 1975-1976 (when it became an enclosed mall), 1984, 1992, and 1995. The mall is the largest in the state of New Mexico with 150 stores and is anchored by Macy's, JCPenney, Sears, and Kohl's.
When Coronado Center first opened in 1965, the mall's original anchor tenants included Sears and Rhodes Brothers. In 1974, Rhodes Brothers was rebranded as Liberty House. In the mall's 1975-1976 expansion, two new anchor stores (Goldwater's and The Broadway) were added, and in 1984 a fifth anchor store (Sanger-Harris) was added. Goldwater's closed in 1986, but later reopened as May D&F in 1989. Sanger-Harris was rebranded as Foley's in 1987, but in 1988, Foley's closed this location. In the late 1980s, Liberty House closed and was replaced by Mervyn's shortly afterward. In 1990, JCPenney opened at the former Sanger-Harris/Foley's store area. May D&F was rebranded as Foley's in 1993, signifying Foley's return to the mall. The Broadway was rebranded as Macy's in 1996. In 2006, Foley's was rebranded as Macy's, and Macy's vacated the former The Broadway store area, which has now been taken over by Gordmans upstairs and Dick's Sporting Goods downstairs. Mervyn's closed all stores due to bankruptcy in 2008, and the store area was remodeled for Kohl's, which opened in 2010.