purchased the mall lastyear

|

The district will allow Coyote to expand the scope of itsoriginal renovation plans, and also to begin work on the propertyimmediately, says a company spokeswoman. "Now we have the fundingto do it," she tells GlobeSt.com. "We're hoping to have therenovation completed by year-end."

|

The mall has 56 stores open, and these include anchors Macy's,JC Penney and Sears, as well as a branch of the Hayner PublicLibrary, which is being expanded to 25,000 sf. The firm plans tomassively market the mall at the upcoming ICSC convention in LasVegas to gain more tenants. "We have two leasing people who havefull schedules in Vegas, we hope to do a lot of deal-making there,"the spokeswoman says.

|

The renovation plans for the 30-year-old property includeredesigned mall entrances, the removal of structural barriers inthe common area between the main and second floors, new flooring onthe first and second floor, enhanced court areas to include softseating, carpet, new landscaping, updated lighting and acryliclaminate panels, and a large hvac overhaul. "We've spent more than$150,000 on the hvac and escalator alone," the spokeswomansays.

|

She says the city, a suburb of St. Louis, agreed to the specialdistrict because the mall is the largest retail property in thearea. "They need a viable regional mall in their market," she says.The company also owns and manages the 552,163-sf Temple Mall inTemple, TX.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.