Steeplegate Mall

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Steeplegate Mall
Steeplegate Mall logo.svg
Steeplegate Main Entrance.jpg
Steeplegate Mall's clock tower and main entrance leading to the food court
Steeplegate Mall
Location Concord, New Hampshire, United States
Address270 Loudon Road
Opening dateAugust 1, 1990 (1990-08-01Tmdy)
Developer Homart Development Company
ManagementColliers Properties
OwnerOnyx Partners Ltd.
No. of stores and services7 (open), 60 (spaces)
No. of anchor tenants 1 store and 2 non-traditional anchors
Total retail floor area 481,722 square feet (44,753 m2) [1]
No. of floors1
Website https://web.archive.org/web/20201109215935/http://www.steeplegatemall.com/

Steeplegate Mall is an enclosed shopping mall in Concord, New Hampshire, United States. Opened in 1990, it has struggled with high vacancy rates throughout its existence. [2] Its largest retailer is JCPenney, the only traditional store left alongside Talbots and Chico's. [3] It also features a live theater that opened in 2016, a trampoline park that opened in 2018, [4] [5] a health club that opened in 2019, [6] and a pickleball club that opened in 2022. [7]

Contents

The mall opened with four large retail anchor stores, a food court with a 630-square-foot (59 m2) mosaic, [8] and room for about 62 storefronts, depending on layout. Following the interior's closure on April 22, 2022, after the mall's owners evicted the few remaining interior businesses, only six businesses with exterior entrances plus the later-opened pickleball club are open. [3] [7] As of 2023, new owners are proposing to tear most of it down and build a large mixed-use development with apartments and some retail. [9]

History

The 481,722-square-foot (44,753-square-meter) mall opened August 1, 1990, with Sears, JCPenney, Sage-Allen and Steinbach as its anchors. It was built by Homart Development Company. [10]

Steinbach closed its store in 1999 as part of the company's bankruptcy. Sage-Allen, which closed in Fall 1992 and remained vacant for almost 7 years,[ citation needed ] became The Bon-Ton in 1999, [11] with a second Bon-Ton and Circuit City splitting the former Steinbach. Circuit City liquidated and closed in 2009.

Decline

In 2011, General Growth Properties, the successor company to Homart, transferred ownership of the mall, along with 29 other underperforming malls, to its Rouse Properties subsidiary. [12] 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. [13] By April 2015 the property was owned by a consortium of lenders including Wells Fargo Bank and Midland Loan Servicing and managed by Colliers International. [14]

In January 2015, Old Navy, one of four main anchors at the mall, closed its doors. [15]

In May 2016, Steeplegate Mall was bought by the New York-based Namdar Realty Group for $10.4 million. [16]

As part of an attempt to diversify from traditional retail and food stores, Hatbox Theater, a live theater venue located in the former Coldwater Creek and using the adjoining former RadioShack space for storage and rehearsals, opened in 2016. [17] Similarly, VIP Bounce Houses and Laser Tag opened in the former Old Navy location that year. [18]

In April 2018, Bon-Ton closed both of its stores as part of a plan to close 42 stores nationwide. [19] Later that same year, a charter school called Capital City Charter School moved into the former Bon-Ton men's clothing and houseware store, [4] [20] although it closed and filed for bankruptcy in 2021, [21] [22] while an Altitude Trampoline Park franchise opened within the former Circuit City space in November. [5] [23]

In 2019, a health club called The Zoo opened a franchise in the former Bon-Ton women's and children's store, marking the first time since Circuit City's closure that all five anchors in the mall had an active permanent tenant. [6] In 2019, one of the mall's oldest tenants, a confectionery called True Confections Candies & Gifts, moved out of the mall, citing declining foot traffic and the mall owners' unwillingness to lower rent rates. [24]

On February 6, 2020, Sears closed the Steeplegate store as part of closing 96 stores nationwide, which left JCPenney as the only traditional anchor. [25] The former Sears store was used as a state vaccination site during the COVID-19 pandemic. [26]

Mall interior closes for overhaul

In February 2022, the mall's owners told the five remaining businesses that were only accessible from inside the mall to vacate their spaces by March 2022 for upcoming unspecified changes to the mall's interior. [27] The same month, the owners also told the Hatbox Theatre, which only had an exterior entrance, that it had until March 13 to vacate the spaces it used. [17] However, the owners renounced their demands shortly afterward and allowed the theater to stay, although Hatbox was no longer permitted to use the adjoining former RadioShack space. [28] By April 2022, all of the last five interior-only businesses vacated the mall; four of them moved to other locations—three to elsewhere in Concord and one to Hooksett—while the fifth decided to close permanently. [29] On April 22, the mall closed its interior to visitors, leaving only the six remaining businesses with exterior entrances—JCPenney, Talbots, Chico's, Hatbox Theatre, The Zoo Health Club, and Altitude Trampoline Park. [3] On December 8, 2022, a pickleball club called All-Stars Pickleball Club opened in the former Old Navy space. [7]

Proposed demolition and redevelopment

In 2023, owner Namdar Realty Group sold the mall to Onyx Partners Ltd. of Needham, Massachusetts for $18.18 million. [30] Onyx announced plans to demolish most of the mall to build of a mixed-use retail and residential development with 625 apartments in place of both the mall and the adjacent Regal Cinemas movie theater. The proposal began city review in September 2023; construction could start as early as 2024. [9] In November 2023, all remaining tenants except for long-term lease holders JCPenney, The Zoo Health Club, and Altitude Trampoline Park were sent legal notices to vacate the mall by the end of January 2024. [31] The three long-term lease holders will remain in standalone buildings derived from the mall building after its demolition, with The Zoo Health Club moving into the space next to Altitude Trampoline Park.

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References

  1. ↑ "STEEPLEGATE MALL". www.namdarrealtygroup.com. Retrieved 2023-01-09.
  2. ↑ Townsend, Matt (November 21, 2014). "A Dying Mall in Concord, New Hampshire". Bloomberg. Archived from the original on February 20, 2015.
  3. 1 2 3 Duckler, Ray (April 23, 2022). "Once upon a time, the Steeplegate Mall changed lives". Concord Monitor. Retrieved April 30, 2022.
  4. 1 2 Willingham, Leah (September 5, 2018). "In a former department store, Capital City Charter School opens to students". Concord Monitor .
  5. 1 2 Andrews, Caitlin (November 22, 2018). "In Concord, a changing mall heads into holiday shopping season". Concord Monitor. Retrieved December 3, 2018.
  6. 1 2 Andrews, Caitlin (March 27, 2019). "The Zoo gym coming to Concord's Steeplegate Mall". Concord Monitor. Retrieved May 26, 2019.
  7. 1 2 3 Rynston-Lobel, Ryan (January 24, 2023). "Pickleball at the mall: One of the fastest-growing sports in America has embedded itself in Concord". Concord Monitor. Retrieved May 2, 2023.
  8. ↑ "IN CONCORD, A NEW MALL AND HIGH HOPES". The Boston Globe. 1990-08-05. Archived from the original on 2016-03-04.
  9. 1 2 Brooks, David (September 11, 2023). "Steeplegate Mall, Regal Cinema would be replaced with retail and 625 housing units under new proposal". Concord Monitor. Retrieved September 21, 2023.
  10. ↑ "CONCORD HEIGHTS TO GET MALL AUG. 1". The Boston Globe. 1990-07-08. Archived from the original on 2016-10-18.
  11. ↑ Upendra Mishra. "New England Region Enticing Once Again". Archived from the original on 2005-05-30.
  12. ↑ Doyle, Megan (August 20, 2014). "Hopeful for a new owner, local businesses stick to Steeplegate Mall". Concord Monitor .
  13. ↑ Doyle, Megan (August 4, 2014). "Owner defaults on loan for Steeplegate Mall". Concord Monitor.
  14. ↑ Megan Doyle. "Steeplegate Mall transfer is now official". Archived from the original on 2016-03-04.
  15. ↑ Palermo, Sarah (January 9, 2015). "Old Navy at the Steeplegate Mall closing at the end of January". Concord Monitor.
  16. ↑ Brooks, David (June 6, 2016). "Steeplegate Mall sold for $10.3 million". Concord Monitor . Retrieved May 5, 2017.
  17. 1 2 Brooks, David (February 14, 2022). "Hatbox Theatre told to leave Steeplegate Mall in 30 days". Concord Monitor. Retrieved April 2, 2022.
  18. ↑ Brooks, David (March 28, 2016). "Live Theater Opens at Mall". Concord Monitor.
  19. ↑ Brooks, David (February 1, 2018). "Bon-Ton to close its stores in Steeplegate Mall". Concord Monitor.
  20. ↑ Willingham, Leah (July 29, 2018). "Charter School in old Bon Ton store to pen this fall". Concord Monitor. Retrieved August 1, 2018.
  21. ↑ Brooks, David (February 9, 2021). "School in Steeplegate Mall surrenders its charter". Concord Monitor. Retrieved February 10, 2021.
  22. ↑ Schinella, Tony (April 6, 2021). "Concord's Capital City Public Charter School Files For Bankruptcy". Patch . Retrieved May 12, 2022.
  23. ↑ Andrews, Caitlin (May 24, 2018). "Update: New life for Steeplegate with addition of trampoline park, possibly new charter school". Concord Monitor. Retrieved June 8, 2018.
  24. ↑ Andrews, Caitlin (May 3, 2019). "Mall loyalist True Confections to depart by month's end". Concord Monitor. Retrieved May 26, 2019.
  25. ↑ Brooks, David (November 7, 2019). "Sears in Concord to shut as the company closes yet more stores nationwide". Concord Monitor. Retrieved February 17, 2020.
  26. ↑ Rosenbluth, Teddy (April 2, 2021). "Some wait outside for hours to get their vaccines in Concord". Concord Monitor. Retrieved December 6, 2021.
  27. ↑ Brooks, David; Jensen, Cassidy (February 16, 2022). "Steeplegate Mall tells all interior stores to leave to prepare for unspecified changes". Concord Monitor. Retrieved February 16, 2022.
  28. ↑ Brooks, David (February 15, 2022). "Steeplegate Mall tells all interior stores to leave to prepare for unspecified changes". Concord Monitor. Retrieved April 2, 2022.
  29. ↑ Jensen, Cassidy (April 17, 2022). "Former Steeplegate businesses open elsewhere in Concord". Concord Monitor. Retrieved April 22, 2022.
  30. ↑ Brooks, David (October 25, 2023). "Developers paid $18.18 million for Steeplegateproperty [sic]". Concord Monitor. Retrieved January 7, 2024.
  31. ↑ Brooks, David (November 24, 2023). "Stores at Steeplegate Mall told to leave in January". Concord Monitor. Retrieved January 7, 2024.

43°13′21″N71°29′12″W / 43.22258°N 71.48670°W / 43.22258; -71.48670

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