Greendale Mall

Greendale Mall
Greendale Mall logo
Address 7 Neponset Street
Worcester, Massachusetts 01606
Opening date 1987
Owner Keypoint Partners
No. of anchor tenants 4
No. of floors 1 with partial lower level
Website https://www.greendalemall.com/

The Greendale Mall is an enclosed shopping mall located near the intersection of Interstates 290 and 190 in Worcester, Massachusetts. The complex has traditionally had two anchor stores, located at the northern and southern entrances. An expansion in the late-1990s added a third anchor store, near the mall's center entrance. DSW, Best Buy, TJ Maxx, and Big Lots occupy the anchor positions. Lechmere used to have a store in the space now partially occupied by Best Buy, but closed in 1997. The anchor at the end of the mall was Marshalls until 2007.[1] It became Big Lots in 2010.

Simon Property Group purchased the mall in 1999. The company stopped paying the debt on the mall in October 2015 and the noteholder took ownership of the Mall.[2] At the time of the takeover by the note holder, the mall was performing very poorly. In November 2015, the mall was appraised at $14.7 million but had a loan value of $45 million.[2]

In June 2016, the mall was sold at auction to Chicago law firm Seyfarth Shaw LLP for $11.8 million, the mortgage holder of the property, after no other bids were received.[3] In September 2016, Burlington-based KeyPoint Partners, the company representing the new owners and managing the building, announced that Worcester's only enclosed shopping mall would remain open.[4]

Anchor stores

References

  1. ↑ "Marshalls at mall closed - Worcester Telegram & Gazette". telegram.com. Retrieved 2012-08-31.
  2. 1 2 "Simon, WP Glimcher Each Lose Malls to Foreclosure; Kimco Mall Facing Similar Fate - CoStar Group". www.costar.com. Retrieved 2016-08-29.
  3. ↑ "Greendale Mall sold for $11.8M; future uncertain". Worcester Business Journal. Retrieved 2017-12-14.
  4. ↑ Quinn, Tom (2016-09-29). "Greendale Mall to remain open under new ownership - Worcester Mag". Worcester Mag. Retrieved 2017-12-14.

Coordinates: 42°17′48″N 71°48′03″W / 42.2967°N 71.8007°W / 42.2967; -71.8007

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