Steeplegate Mall

Steeplegate Mall
Steeplegate Mall logo
Steeplegate Mall's clock tower and main entrance leading to the food court.
Location Concord, New Hampshire, United States
Address 270 Loudon Road
Opening date August 1, 1990 (1990-08-01Tmdy)
Developer Homart Development Company
Management Colliers Properties
Owner Namdar Realty Group
No. of stores and services 27
No. of anchor tenants 3 (1 non-traditional)
Total retail floor area 480,000 square feet (45,000 m2)
No. of floors 1
Website 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.[1] It is anchored by JCPenney and Sears stores, plus a charter school that opened on September 5, 2018.[2]

History

The mall opened August 1, 1990, with Sears, JCPenney, Sage-Allen and Steinbach as its anchors. It was built by Homart Development Company.[3] It also included a food court with a 630-square-foot (59 m2) mosaic.[4]

Sage-Allen became The Bon-Ton in 1999,[5] with a second Bon-Ton and Circuit City splitting the former Steinbach. Circuit City has since closed.

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.[6]

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.[7] 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.[8]

In January 2015, Old Navy, one of four main anchors at the mall, closed its doors.[9]

In May 2016, Steeplegate Mall was bought by the New York-based Namdar Realty Group for $10.4 million.[10]

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, opened in 2016. Similarly, VIP Bounce Houses and Laser Tag opened in the former Old Navy location that year.[11]

In April 2018, Bon-Ton closed both of its stores as part of a plan to close 42 stores nationwide.[12] In May 2018, Altitude Trampoline Park announced it would open a new trampoline park location within the former Circuit City space later that year,[13][14] while a charter school called Capital City Charter School moved into the former Bon-Ton men's clothing and houseware store.[15]

References

  1. ↑ Townsend, Matt (November 21, 2014). "A Dying Mall in Concord, New Hampshire". Bloomberg.
  2. ↑ Willingham, Leah (September 5, 2018). "In a former department store, Capital City Charter School opens to students". Concord Monitor.
  3. ↑ "CONCORD HEIGHTS TO GET MALL AUG. 1". The Boston Globe. 1990-07-08.
  4. ↑ "IN CONCORD, A NEW MALL AND HIGH HOPES". The Boston Globe. 1990-08-05.
  5. ↑ http://retailtrafficmag.com/mag/retail_new_england_region/
  6. ↑ Doyle, Megan (August 20, 2014). "Hopeful for a new owner, local businesses stick to Steeplegate Mall". Concord Monitor.
  7. ↑ Doyle, Megan (August 4, 2014). "Owner defaults on loan for Steeplegate Mall". Concord Monitor.
  8. ↑ Steeplegate Mall transfer is now official Megan Doyle, Concord Monitor, April 7, 2015
  9. ↑ Palermo, Sarah (January 9, 2015). "Old Navy at the Steeplegate Mall closing at the end of January". Concord Monitor.
  10. ↑ Brooks, David (June 6, 2016). "Steeplegate Mall sold for $10.3 million". Concord Monitor. Retrieved May 5, 2017.
  11. ↑ Brooks, David (March 28, 2016). "Live Theater Opens at Mall". Concord Monitor.
  12. ↑ Brooks, David (February 1, 2018). "Bon-Ton to close its stores in Steeplegate Mall". Concord Monitor.
  13. ↑ Forsythe, Dana (May 24, 2018). "Trampoline Park to Move Into Steeplegate Mall in Concord". Patch.com. Patch Media. Retrieved June 8, 2018.
  14. ↑ 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.
  15. ↑ Willingham, Leah (July 29, 2018). "Charter School in old Bon Ton store to pen this fall". Concord Monitor. Retrieved August 1, 2018.

Coordinates: 43°13′21″N 71°29′12″W / 43.22258°N 71.48670°W / 43.22258; -71.48670

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