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Senin, 30 Juli 2018

Phillipsburg Mall - Mason Asset Management
src: www.masonam.com

Phillipsburg Mall is an indoor shopping mall located along U.S. Route 22. Despite its name, the mall is actually located on the border of Lopatcong Township and Pohatcong Township in Warren County, New Jersey, United States, just east of Phillipsburg. It is located on the eastern edge of the Lehigh Valley, the metropolitan area of Allentown, Pennsylvania. The mall features Kohl's and Black Rose Antiques & Collectibles as its anchor stores.


Video Phillipsburg Mall



History

Crown American first announced Phillipsburg Mall in 1985. The original anchor stores chosen were Bradlees, Sears, and Hess's, then a subsidiary of Crown American. As Bradlees was undergoing store closings at the time, Crown American instead chose to make that anchor space a Kmart. The Mall was originally slated for a 1987 opening, but was delayed due to highway and sewage system issues. Upon opening on September 24, 1989, the mall had Kmart, Hess's (the first location in New Jersey), and Sears. JCPenney would later open in Spring of 1990. The Hess's store was sold to The Bon-Ton in 1994. Gap opened both Gap and Old Navy stores at the mall in 1999. In 2001, Swedish clothing retailer H&M opened its 24th American location at Phillipsburg Mall. Kmart closed its store at Phillipsburg Mall in 2002 as part of bankruptcy proceedings; one year later, the space was sold to Kohl's.

PREIT, who acquired the Crown American portfolio in 2003, sold the mall to Mason Asset Management for $11.5 million in 2013. On January 15, 2014, it was announced that the JCPenney store would be closing as part of a plan to close 33 locations nationwide. In addition to this anchor, many stores left the mall in 2013 and 2014, including American Eagle Outfitters, AĆ©ropostale, f.y.e., Gap, PacSun, Christopher & Banks, Deb Shops, and Littman Jewelers.

As those stores were closing, other new shops began to open. An Antique shop called Black Rose Antiques & Collectibles began to occupy the former JCPenney space. The store opened on January 1, 2017. Meanwhile, a record store called Spin Me Round Records opened near the former JCPenney space, and also around this time, a Gold's Gym opened in the space once occupied by Hot Topic and several restaurants.

On November 2, 2017, Sears Holdings announced that Sears would also be closing as part of a plan to close 63 Sears & Kmart stores nationwide. The store, the only Sears or Kmart in New Jersey to be closing as a part of this plan, as well as the adjacent Auto center, closed on January 28, 2018.

In mid-November, 2017, The Bon Ton, struggling with around $1.1 billion in debt, announced a plan to close over 40 stores in 2018, including its Phillipsburg Mall location, and on January 31, 2018 confirmed that closing sales would begin February 1 and run for 10-12 weeks until the store is closed in April. The store closed on April 29, 2018.

The mall's website lists 36 tenants including H&M and Old Navy as well as the anchors as of April 2018. But with the vaccancies from Sears and Bon-Ton and the competition for the mall's main competitor, Lehigh Valley Mall, that number is likely to dwindle.


Maps Phillipsburg Mall



See also

  • Bridgewater Commons Mall
  • Lehigh Valley Mall
  • Palmer Park Mall
  • South Mall
  • Whitehall Mall

Phillipsburg Mall - YouTube
src: i.ytimg.com


References


Kohl's | Hakimi Properties
src: hakimiproperties.com


External links

  • Phillipsburg Mall Official Web Site

Source of article : Wikipedia