Eastland Mall (Columbus, Ohio)

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Eastland Mall
Location Columbus, Ohio
Coordinates 39°55′06″N 82°53′03″W / 39.918295°N 82.884103°W / 39.918295; -82.884103Coordinates: 39°55′06″N 82°53′03″W / 39.918295°N 82.884103°W / 39.918295; -82.884103
Address 2720 Eastland Square
Opening date 1968
Developer Richard E. Jacobs
Management Woodmont Manager
Owner The Woodmont Company
No. of stores and services 80[1]
No. of anchor tenants 4 (2 vacant)[1]
Total retail floor area 999,458 square feet (92,852.7 m2)[1]
No. of floors 1 (2 in Sears, JCPenney, and Kaufmann's/Macy's; 3 in Lazarus/Macy's)

Eastland Mall is an enclosed shopping mall in Columbus, Ohio. Opened in 1968, it is anchored by Macy's and Sears, with two vacant anchors originally occupied by Lazarus and JC Penney. The mall is managed by Woodmont Management.

History[edit]

The mall was built in 1968 by Richard E. Jacobs group, who also developed Columbus's Northland and Westland Malls.[2] It was the first enclosed shopping mall in Columbus.[1] As with the other two "directional" Jacobs malls in Columbus, Eastland's original anchors included J. C. Penney, Sears, and Lazarus.[3]

Although Eastland itself is a single-story mall, all three of its original anchor stores were constructed with two stories of retail space. The Sears store closed off its upper level at some point during the 1980s.

It remained under Jacobs' ownership until Glimcher Realty Trust bought it in December 2003. The property became Glimcher's second mall in Columbus, following Polaris Fashion Place. Among Glimcher's first moves with the property was to add a fourth anchor, Kaufmann's. This Kaufmann's was the first in a "lifestyle" prototype featuring a smaller floor plan with wider aisles.[4] The same year, the Lazarus store became Lazarus-Macy's.[5] Macy's moved from the former Lazarus to the former Kaufmann's in 2006 when the Macy's chain purchased Kaufmann's then-parent company.[6] Three years later, Glimcher proposed to demolish the former Lazarus-Macy's building for a new J. C. Penney, while dividing Penney's existing store among new tenants.[7] However, as of 2013 the former Lazarus-Macy's building remains both standing and vacant. J. C. Penney announced the closure of its existing store in early 2015.[8]

With the closure and subsequent demolition of Northland in 2002, Eastland is the oldest operating shopping mall in Central Ohio.

Glimcher defaulted on the mall's mortgage loan in 2012 and turned the property over via a Deed in lieu of foreclosure to the lender, a CMBS trust that was serviced by LNR Property, in August 2014.[9][10]

In March 2015, the mall was reportedly sold for $9.25 million.[11]

References[edit]

  1. ^ a b c d "Mall profile" (PDF). Glimcher Realty Trust. Retrieved 1 April 2013. 
  2. ^ Showalter, Kathy (3 March 2003). "New owners poised to revive Westland". Columbus Business First. Retrieved 1 April 2013. 
  3. ^ Shopping Centers and Malls. Retail Reporting Corporation. 1 September 1992. p. 102. 
  4. ^ Goins, Tony (16 December 2003). "Glimcher to buy Eastland Mall, add new-style Kaufmann's". Columbus Business First. Retrieved 1 April 2013. 
  5. ^ Goins, Tony (22 May 2003). "Lazarus to add Macy's name". Columbus Business First. Retrieved 1 April 2013. 
  6. ^ "Federated selling overlapping stores in three states". Columbus Business First. 2 May 2006. Retrieved 1 April 2013. 
  7. ^ Pramik, Mike (27 July 2007). "Eastland building anew for anchor.". The Columbus Dispatch. Retrieved 1 April 2013. 
  8. ^ http://www.springfieldnewssun.com/news/business/jc-penney-closing-two-area-stores/njhq8/
  9. ^ "Glimcher Giving Up on Eastland Mall; Plans Deed-in-Lieu of Foreclosure". Commercial Real Estate Direct. 2014-07-28. 
  10. ^ Wartenberg, Steve (2014-08-06). "Glimcher walks away from Eastland; mortgage servicer takes over mall". Archived from the original on 2015-04-19. 
  11. ^ "Eastland Mall Seen Selling for $9.25 million; CMBS Loan to be Hit Hard". Commercial Real Estate Direct. 2015-03-27. 

External links[edit]