Moreno Valley Mall

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Moreno Valley Mall
Location Moreno Valley, California
Coordinates 33°56′20″N 117°16′16″W / 33.93881°N 117.27109°W / 33.93881; -117.27109Coordinates: 33°56′20″N 117°16′16″W / 33.93881°N 117.27109°W / 33.93881; -117.27109
Address 22500 Town Circle, Suite 1206
Opening date 1992
Developer Homart Development Company
Owner CW Capital
No. of stores and services 143
No. of anchor tenants 4
Total retail floor area 1,090,000 sq ft (101,000 m2)
No. of floors 2
Parking 6,500
Website www.morenovalleymall.com

The Moreno Valley Mall at Towngate is a shopping mall located on the former site of the Riverside International Raceway in Moreno Valley, California.[1]

Developed by Homart Development Company, the initial anchor stores in 1992 were Sears, J.C. Penney's, May Company California, and Harris Department Stores and had 140 specialty stores.[2]

In the early years competition for tenants divided prospects between competing developers.[3] In September 1996 the City confirmed that lower than anticipated revenues would result in a shortfall estimated to extend the payback period of the $13m infrastructure loan to an estimated 2026 with the loan peaking at $19.5m. Also, the mall was then valued at $66 million, far less than its original valuation of $107 million.[4]

Moreno Valley Mall directly contracts with the local Police Service as well as private security firm for security services.[5]

Major anchors[edit]

Former anchors[edit]

References[edit]

  1. ^ Glick, Shav (2006-02-15). "Learning Curves: NASCAR used to open on the road course at Riverside". Los Angeles Times. Retrieved 2016-01-16. 
  2. ^ "Briefs: Moreno Valley Mall at Towngate". WWD. 161 (126). 1991-06-28. p. 12. Moreno Valley Mall at Towngate, a 1.2-million-square-foot two-level regional mall under construction, is scheduled to open in Riverside County, Calif., in fall 1992. Sears, Roebuck & Co., J.C. Penney and May Department Stores Co. are some of the tenants who have committed to opening stores during Phase I. Harris' Department Stores, San Bernardino, Calif., will open a 145,000-square-foot unit, as well.  Link via ProQuest.
  3. ^ Myers, David W. (1986-11-23). "2 Developers in Race for Sole Moreno Valley Mall Both Compete for Tenants to Build Project". Los Angeles Times. Retrieved 2016-01-16. 
  4. ^ Fleckenstein, Loren (1996-09-15). "Riverside, Calif., Mall's Financial Woes Put Pinch on City Coffers". Press-Enterprise. Knight RidderTribune – via HighBeam Research. (subscription required (help)). 
  5. ^ "Patrol Division". City of Moreno Valley. Archived from the original on 2007-10-14. Retrieved 2007-12-18.