River Valley Mall

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River Valley Mall
River Valley Mall (32424788850).jpg
A corridor of River Valley Mall in 2017.
River Valley Mall
Location Lancaster, Ohio, U.S.
Coordinates 39°43′55.7″N82°37′41.1″W / 39.732139°N 82.628083°W / 39.732139; -82.628083
Address1635 River Valley Circle South
Opening date1987
Developer Glimcher Realty Trust
Management Namdar Realty Group
Owner Namdar Realty Group
No. of stores and services55+
No. of anchor tenants 5 (3 open, 2 vacant)
Total retail floor area 521,587 square feet (48,457.0 m2) [1]
No. of floors1

River Valley Mall is an enclosed shopping mall serving Lancaster, Ohio, United States. It was built in 1987 by Glimcher Realty Trust. The mall's anchor stores are Cinemark Theatres, Dick's Sporting Goods, and JCPenney. There are 2 vacant anchor stores that were once Elder-Beerman and Sears. It is owned by Namdar Realty Group.

Contents

History

In 1985, Fairfield County, Ohio commissioners approved a contract submitted by Glimcher Realty Trust to develop River Valley Mall along Memorial Drive, then part of US 33, west of the city of Lancaster, Ohio. Initial building costs were estimated at $4,000,000, not counting improvements to the infrastructure around the property. [2] Construction began in June 1986, by which point Glimcher had confirmed that the mall would consist of nearly 500,000 square feet (46,000 m2) of retail space, including approximately 80 shops and restaurants and a movie theater. Two anchor stores had also committed to the project at this point: Lazarus, [3] and J. C. Penney, which would relocate from its existing store in the Plaza Shopping Center. [4] By August 1986, Hills had been confirmed as the mall's third anchor, [5] and Elder-Beerman as the fourth in March 1987. [6] Mall developers noted that the mall's tenant mix reflected the retail needs of a market the size of Lancaster, and that the decision to add a fourth department store was due to the initial success of the company's Indian Mound Mall in Heath, Ohio. Upon opening for business on October 1, 1987, the mall had more than 50 spaces leased. [7] Over 25 stores joined the mall by 1989, including a 100,000-square-foot (9,300 m2) expansion consisting of the movie theater and a fifth anchor store, Sears, which opened that October. [8] [9] Sears had also relocated from the Plaza Shopping Center. [10] On July 23, 1995, a Target store opened near the mall. [11]

Ames acquired the Hills chain in 1999, but closed the store in 2001 as part of its departure from Ohio. [12] Lazarus was converted to Macy's in 2005, but closed in 2007 due to declining sales. [13] Steve & Barry's, which took the former Ames in 2003, closed in 2009 when the chain went out of business, although the mall also added IHOP and Old Navy at this point. A 2009 Columbus Dispatch article noted that the additions of these new stores countered concerns about decreasing mall traffic after the US 33 by pass of Lancaster was built in 2005. [14] Dick's Sporting Goods took the former Lazarus/Macy's anchor in 2010. [15]

In 2014, Regal Cinemas closed the mall's movie theater, following announcements that Cinemark would demolish the former Steve & Barry's building for a new theater. [16] At the same time, Glimcher put up both River Valley and Indian Mound malls for sale. [17] Glimcher forfeited ownership of the mall to Woodmont Company in 2016 to avoid foreclosure, and Woodmont in turn sold it to RVM LLC in 2017. [18] Sears closed in April 2017 as part of a plan to close 150 stores nationwide. [10] Elder-Beerman closed on August 29, 2018 when its parent company The Bon-Ton went out of business. [19] As of 2021, River Valley Mall had an occupancy rate of 50 percent. [20]

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References

  1. ↑ "River Valley Mall" (PDF). Washington Prime. Retrieved December 27, 2018.
  2. ↑ "Commissioners approve new River Valley Mall contract". Lancaster Eagle-Gazette. November 27, 1985. p. 1. Retrieved August 5, 2019.
  3. ↑ "First phase of mall launched". Lancaster Eagle-Gazette. June 14, 1986. p. 1. Retrieved August 5, 2018.
  4. ↑ "J. C. Penney to locate store in new River Valley Mall". Lancaster Eagle-Gazette. May 6, 1986. p. 1. Retrieved August 5, 2019.
  5. ↑ "Hills department store to locate here". Lancaster Eagle-Gazette. August 8, 1986. p. 1. Retrieved August 5, 2019.
  6. ↑ "Elder-Beerman signs lease for local mall". Lancaster Eagle-Gazette. March 24, 1987. p. 1. Retrieved August 5, 2019.
  7. ↑ "River Valley Mall scheduled for grand opening Thursday". Lancaster Eagle-Gazette. September 26, 1987. p. 9. Retrieved August 5, 2019.
  8. ↑ "More growth ahead for River Valley Mall". Lancaster Eagle-Gazette. February 24, 1989. pp. B8. Retrieved August 5, 2019.
  9. ↑ Carol M. Kugler (October 19, 1989). "New section of mall opened Wednesday". Lancaster Eagle-Gazette. pp. 1, 5. Retrieved August 5, 2019.
  10. 1 2 "Sears-Roebuck store announced in 1953". Lancaster Eagle-Gazette. January 23, 2017. pp. 3A. Retrieved August 5, 2019.
  11. ↑ "Target plans special events; Store opens on July 23". Lancaster Eagle-Gazette.
  12. ↑ Doug Buchanan, Kathy Showalter (December 5, 2001). "Ames exiting Columbus market, closing three area stores". Columbus Business Journal. Retrieved August 5, 2019.
  13. ↑ Tamaria L. Kulemeka (January 5, 2007). "Macy's to close its doors in Lancaster". Lancaster Eagle-Gazette. pp. 1A, 2A. Retrieved August 5, 2019.
  14. ↑ "Bypass cuts traffic, not business". Columbus Dispatch. September 8, 2009. Retrieved August 5, 2019.
  15. ↑ Joe Giessler (March 24, 2010). "Dick's Sporting Goods scheduled to open store in River Valley Mall later this year". Lancaster Eagle-Gazette. pp. 1A, 2A. Retrieved August 5, 2019.
  16. ↑ Jeff Barron (July 3, 2014). "Last movie for a while at River Valley". Lancaster Eagle-Gazette. pp. 1A, 2A. Retrieved August 5, 2019.
  17. ↑ Jeff Barron (June 19, 2014). "River Valley Mall for sale". Lancaster Eagle-Gazette. pp. 1A, 2A. Retrieved August 5, 2019.
  18. ↑ Jeff Barron (August 4, 2017). "River Valley Mall has new owner". Lancaster Eagle-Gazette. Retrieved August 5, 2019.
  19. ↑ "Elder-Beerman at River Valley Mall to close". Lancaster Eagle-Gazette. April 18, 2018. Retrieved August 5, 2019.
  20. ↑ Jeff Barron (June 22, 2018). "With more people shopping from home, can the River Valley Mall survive?". Lancaster Eagle-Gazette. Retrieved August 5, 2019.
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