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Muncie Mall

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Coordinates: 40°13′20″N 85°22′31″W / 40.2223°N 85.3753°W / 40.2223; -85.3753
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This is an old revision of this page, as edited by Chelseagoldkey (talk | contribs) at 21:03, 1 July 2021 (changed the opening paragraph to include a list of open stores instead of closed stores.). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

Muncie Mall
Map
Address3501 N. Granville Ave.
Opening date1970
DeveloperMelvin Simon & Associates
No. of stores and services30+
Total retail floor area636,000 square feet[1]
No. of floors1

Muncie Mall is an enclosed shopping mall in Muncie, Indiana. Opened in 1970 with current offerings from Bath & Body, American Eagle, Buckles, Footlocker, Shoe Encore, Books A Million and more.

History

Stores

Muncie Mall opened in 1970 with Britt's, W. T. Grant, and Sears as its anchor stores. Other major tenants upon opening included a National Tea supermarket and Osco Drug.[2] Britt's and Grant's later became L. S. Ayres and J. C. Penney, respectively. Another major tenant was Ball Stores, which later became Elder-Beerman.[3]

In 1997, after L.S. Ayres vacated the central anchor spot for a new store in the mall, the former Ayres building became a new Elder-Beerman store. Elder-Beerman continued to operate a home goods store within the former Ball Stores.[4][5][6] L.S. Ayres' newer store became Macy's in 2006. Books-A-Million opened its fourth Indiana store at the mall in 2006.[7]Old Navy, which replaced the Elder-Beerman home store, closed in 2010.[8]

Elder-Beerman became Carson's in 2012. On April 18, 2018, Carson's announced that its store would be closing in August 2018 as a result of liquidation of their parent company, Bon-Ton.[9] On May 31, 2018, Sears announced that they would also be closing as part of a plan to close 72 stores nationwide. Sears closed in September 2018.[10] On May 31, 2019, it was announced that the owner of the mall will be returning the mall to the bank.[11] On January 7, 2020, Macy's announced that they would be closing as part of a plan to close 125 stores nationwide. The store closed in March 2020.[12]

On June 4, 2020, JCPenney announced that it would be closing in October 2020 as part of a plan to close 154 stores nationwide, which will leave the mall anchorless.[13] The mall had seventeen permanently closed stores and restaurants as of July 2020.[14]

Ownership

Muncie Mall was owned and operated by Simon Property Group[1] prior to being spun off, along with some other Simon-owned properties, into newly formed Washington Prime Group (WPG) in 2014. In 2020, WPG CEO Louis G. Conforti referred to Muncie Mall as one of the company's "crappiest assets". WPG CFO Mark E. Yale announced the company's intention to default on mortgage loans secured by seventeen of the company's malls, including Muncie Mall, thus transitioning these malls to the company's lenders. The mall served as collateral for a $33.1 million loan from JPMBB Commercial Mortgage Securities Trust to WPG.[15] The mall was closed temporarily at the start of the coronavirus outbreak. A receiver was appointed to manage and lease the mall on April 14, and the mall reopened under new management by the Woodmont Company on May 18.[16]

References

  1. ^ a b "Do Business at Muncie Mall, a Simon Property". simon.com. Archived from the original on October 11, 2011.
  2. ^ Chain Store Age: Executives edition. Vol. 45. Lebhar Friedman. 1964. Retrieved 2015-07-12.
  3. ^ "Elder-Beerman sees Chap. 11 exit, plans stock offer. (Elder-Beerman Stores Corp.) - Footwear News | HighBeam Research". highbeam.com. Archived from the original on 2014-06-10. Retrieved 2015-07-12.
  4. ^ "NewsBank for DDN | www.daytondailynews.com". nl.newsbank.com. Retrieved 2015-07-12.
  5. ^ "Seeing what develops: a healthy state of commercial development continues across Indiana. - Indiana Business Magazine | HighBeam Research". highbeam.com. Archived from the original on 2014-06-11. Retrieved 2015-07-12.
  6. ^ "SIMON DEBARTOLO GROUP, INC. 1997 ANNUAL REPORT" (PDF). 29 May 1998. Retrieved 2015-07-12.
  7. ^ "New store opened by Books-A-Million in Indiana.(Brief article) - M2 Best Books | HighBeam Research". highbeam.com. Archived from the original on 2014-06-11. Retrieved 2015-07-12.
  8. ^ "Old Navy closing at Muncie Mall". pqasb.pqarchiver.com. Retrieved 2015-07-12.
  9. ^ Roysdon, Keith. "Bon-Ton 'wind-down' appears to mean Carson's closing at Muncie Mall". TheStarPress.
  10. ^ Roysdon, Keith. "Muncie's Sears store to close". TheStarPress.
  11. ^ "Future of Muncie Mall uncertain as owner plans to return it to bank". TheStarPress. Retrieved 2019-06-01.
  12. ^ Stefanski, Charlotte. "Macy's to close at Muncie Mall". TheStarPress.
  13. ^ "JCPenney Store Closings – JCPenney Company Blog". companyblog.jcpnewsroom.com.
  14. ^ Stefanski, Charlotte. "Muncie Mall continues to lose stores after reopening". The Star Press. Retrieved 2021-03-10.
  15. ^ Slabaugh, Seth. "Muncie Mall lumped in with WPG's 'crappiest assets'". The Star Press. Retrieved 2021-03-10.
  16. ^ Slabaugh, Seth. "Mayor: Muncie Mall to reopen under new management". The Star Press. Retrieved 2021-03-10.

40°13′20″N 85°22′31″W / 40.2223°N 85.3753°W / 40.2223; -85.3753

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