Muncie Mall

Muncie Mall
The entrance of the Muncie Mall
Map
Address3501 N. Granville Ave.
Opening date1970
DeveloperMelvin Simon & Associates
ManagementHull Property Group
OwnerHull Property Group
No. of stores and services30+
No. of anchor tenants4 (1 open, 3 vacant)
Total retail floor area636,000 square feet[1]
No. of floors1 (2 in former Carson’s)
Public transit accessBus interchange MITS
Websitewww.munciemall.com

Muncie Mall is an enclosed shopping mall in Muncie, Indiana. Opened in 1970, it was developed by Melvin Simon & Associates, now known as Simon Property Group. The mall's original anchor stores were W. T. Grant, Britt's, Sears, and Ball Stores. In 2020 the mall had no anchor stores, although it continued to have over 30 inline tenants. Its anchor stores as they closed were JCPenney, Macy's, Carson's, and Sears. In 2021 the former Macy's building was bought by a discount store called Buyers Market. The mall is owned and managed by the Hull Property Group.

History

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Stores

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Muncie Mall opened in 1970 with Britt's, W. T. Grant, and Sears as its anchor stores. Other major tenants upon opening included a National Tea supermarket and Osco Drug.[2] Britt's later became L. S. Ayres and Grants later became J. C. Penney, respectively. Another major tenant was Ball Stores, which later became Elder-Beerman.[3]

In 1997, after L.S. Ayres vacated the central anchor spot for a new store in the mall, the former Ayres building became a new Elder-Beerman store. Elder-Beerman continued to operate a home goods store within the former Ball Stores.[4][5][6] L.S. Ayres' newer store became Macy's in 2006. Books-A-Million opened its fourth Indiana store at the mall in the former Osco Drug in 2006.[7] Old Navy, which replaced the Elder-Beerman home store, closed in 2010.[8]

The discount movie theater closed in the early 2000s, it has since been walled over and used for storage.

Elder-Beerman became Carson's in 2012. On April 18, 2018, Carson's announced that its store would be closing as a result of liquidation of their parent company, Bon-Ton.[9] The store closed on August 31, 2018. On May 31, 2018, Sears announced that they would also be closing as part of a plan to close 72 stores nationwide. Sears closed in September 2018.[10] On May 31, 2019, it was announced that the owner of the mall will be returning the mall to the bank.[11] On January 7, 2020, Macy's announced that they would be closing as part of a plan to close 125 stores nationwide.[12] The store was set to close in April 2020, but due to the COVID-19 pandemic, it closed in March along with the temporary closure of the mall.

In 2019, the former Carson's was used for a once a month flea market, which later closed. In 2021, Spirit Halloween occupied the space. Neither of them used the second floor.

On June 4, 2020, JCPenney announced that it would be closing in October 2020 as part of a plan to close 154 stores nationwide, which will leave the mall without any anchor stores.[13] The mall had seventeen permanently closed stores and restaurants as of July 2020.[14]

On June 18, 2021, Buyers Market (a discount store) bought and opened in the former Macy's, only using about 50% of the sales floor.

In 2022, Spirit Halloween occupied the former Carson’s, they have been the only tenant in the space since they last used it in 2021. They Did not use the mall entrance.

Muncie Mall, 1970

In 2022, Buyers Market Leased out the former JCPenney for storage. Although, some For Lease signs are still on the building.

In 2023, Spirit Halloween occupied the former Carson’s for the third year in a row. They did not use the mall entrance.

In January 2024, Woodmont Company sold the mall to Hull Property Group [15]

Ownership

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Muncie Mall was owned and operated by Simon Property Group[1] prior to being spun off, along with some other Simon-owned properties, into newly formed Washington Prime Group (WPG) in 2014. In 2020, WPG CEO Louis G. Conforti referred to Muncie Mall as one of the company's "crappiest assets". WPG CFO Mark E. Yale announced the company's intention to default on mortgage loans secured by seventeen of the company's malls, including Muncie Mall, thus transitioning these malls to the company's lenders. The mall served as collateral for a $33.1 million loan from JPMBB Commercial Mortgage Securities Trust to WPG.[16] The mall was closed temporarily at the start of the coronavirus outbreak. A receiver was appointed to manage and lease the mall on April 14, and the mall reopened under new management by the Woodmont Company on May 18.[17]

References

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  1. ^ a b "Do Business at Muncie Mall, a Simon Property". simon.com. Archived from the original on October 11, 2011.
  2. ^ Chain Store Age: Executives edition. Vol. 45. Lebhar Friedman. 1964. Retrieved 2015-07-12.
  3. ^ "Elder-Beerman sees Chap. 11 exit, plans stock offer. (Elder-Beerman Stores Corp.) - Footwear News". Archived from the original on 2014-06-10. Retrieved 2015-07-12.
  4. ^ "NewsBank for DDN | www.daytondailynews.com". nl.newsbank.com. Retrieved 2015-07-12.
  5. ^ "Seeing what develops: a healthy state of commercial development continues across Indiana. - Indiana Business Magazine". Archived from the original on 2014-06-11. Retrieved 2015-07-12.
  6. ^ "SIMON DEBARTOLO GROUP, INC. 1997 ANNUAL REPORT" (PDF). 29 May 1998. Retrieved 2015-07-12.
  7. ^ "New store opened by Books-A-Million in Indiana.(Brief article) - M2 Best Books". Archived from the original on 2014-06-11. Retrieved 2015-07-12.
  8. ^ "Old Navy closing at Muncie Mall". pqasb.pqarchiver.com. Archived from the original on April 11, 2013. Retrieved 2015-07-12.
  9. ^ Roysdon, Keith. "Bon-Ton 'wind-down' appears to mean Carson's closing at Muncie Mall". TheStarPress.
  10. ^ Roysdon, Keith. "Muncie's Sears store to close". TheStarPress.
  11. ^ "Future of Muncie Mall uncertain as owner plans to return it to bank". TheStarPress. Retrieved 2019-06-01.
  12. ^ Stefanski, Charlotte. "Macy's to close at Muncie Mall". TheStarPress.
  13. ^ "JCPenney Store Closings – JCPenney Company Blog". companyblog.jcpnewsroom.com.
  14. ^ Stefanski, Charlotte. "Muncie Mall continues to lose stores after reopening". The Star Press. Retrieved 2021-03-10.
  15. ^ "Muncie Mall acquired by Hull Property Group". Muncie Mall acquired by Hull Property Group - The Daily News. Retrieved 2024-02-01.
  16. ^ Slabaugh, Seth. "Muncie Mall lumped in with WPG's 'crappiest assets'". The Star Press. Retrieved 2021-03-10.
  17. ^ Slabaugh, Seth. "Mayor: Muncie Mall to reopen under new management". The Star Press. Retrieved 2021-03-10.
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40°13′20″N 85°22′31″W / 40.2223°N 85.3753°W / 40.2223; -85.3753

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