Steeplegate Mall
|
A sign showing the mall's previous logo as seen from Loudon Road. | |
| Location | Concord, New Hampshire, United States |
|---|---|
| Address | 270 Loudon Road |
| Opening date | 1990 |
| Developer | Homart Development Company |
| Management | Colliers Properties |
| Owner | Namdar Realty Group |
| No. of stores and services | 50+ |
| No. of anchor tenants | 4 |
| Total retail floor area | 480,000 square feet (45,000 m2) |
| No. of floors | 1 |
| Website |
www |
Steeplegate Mall is an enclosed shopping mall in Concord, New Hampshire, United States. Opened in 1990, it is anchored by two locations of The Bon-Ton, along with J. C. Penney and Sears. It was managed by Rouse Properties, a division of General Growth Properties. It has struggled with high vacancy rates throughout its existence.[1]
History
The mall opened August 1, 1990, with Sears, J. C. Penney, Sage-Allen and Steinbach as its anchors. It was built by Homart Development Company.[2] It also included a food court with a 630-square-foot (59 m2) mosaic.[3]
Sage-Allen became The Bon-Ton in 1999,[4] with a second Bon-Ton and Circuit City splitting the former Steinbach. Circuit City has since closed.
In 2011, Gap and Coach, Inc. closed at the mall,[5] while The Children's Place opened.[6] That same year, General Growth Properties, the successor company to Homart, transferred ownership of the mall, along with 29 other underperforming malls, to its Rouse Properties subsidiary.[7]
In August 2014, Rouse Properties announced that it had defaulted on its loan for Steeplegate Mall and was in the process of turning over the property to its lenders.[8] By April 2015 the property was owned by a consortium of lenders including Wells Fargo Bank and Midland Loan Servicing. The mall is currently managed by Colliers International.[9]
In January 2015, Old Navy, one of four main anchors at the mall, closed its doors.[10]
In April 2016, two new businesses opened at the Steeplegate Mall. Hatbox Theater is a live theatre venue located in the former Coldwater Creek, VIP Bounce Houses and Laser Tag opened in the former Old Navy location.
In May 2016, Steeplegate Mall was bought by the New York-based Namdar Realty Group for 10.4 million dollars.
References
- ↑ Townsend, Matt (November 21, 2014). "A Dying Mall in Concord, New Hampshire". Bloomberg.
- ↑ http://www.highbeam.com/doc/1P2-8181890.html
- ↑ http://www.highbeam.com/doc/1P2-8185904.html
- ↑ http://retailtrafficmag.com/mag/retail_new_england_region/
- ↑ http://www.highbeam.com/doc/1G1-252005583.html
- ↑ http://nl.newsbank.com/nl-search/we/Archives?p_product=CMOB&p_theme=cmob&p_action=search&p_maxdocs=200&p_topdoc=1&p_text_direct-0=1378ED562D41D890&p_field_direct-0=document_id&p_perpage=10&p_sort=YMD_date:D&s_trackval=GooglePM
- ↑ Doyle, Megan (August 20, 2014). "Hopeful for a new owner, local businesses stick to Steeplegate Mall". Concord Monitor.
- ↑ Doyle, Megan (August 4, 2014). "Owner defaults on loan for Steeplegate Mall". Concord Monitor.
- ↑ Steeplegate Mall transfer is now official Megan Doyle, Concord Monitor, April 7, 2015
- ↑ Palermo, Sarah (January 9, 2015). "Old Navy at the Steeplegate Mall closing at the end of January". Concord Monitor.
External links
Coordinates: 43°13′21″N 71°29′12″W / 43.22258°N 71.48670°W