Greendale Mall

The Greendale Mall is an enclosed shopping mall located near the intersection of Interstates 290 and 190 in Worcester, Massachusetts, United States. It is anchored by DSW and TJ Maxx, with two vacant anchors left by Best Buy and Big Lots. 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 and TJ Maxx occupy the anchor positions, while the remaining anchor stores closed and remain empty. Lechmere used to have a store in the space later 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, which Big Lots left the mall in early 2019. The mall also saw Best Buy close in 2019 as well.

Greendale Mall
LocationWorcester, Massachusetts, United States
Coordinates42.2967°N 71.8007°W / 42.2967; -71.8007
Address7 Neponset Street
Opening date1987
OwnerFinard Properties
No. of stores and services37
No. of anchor tenants4 (1 open, 3 vacant)
Total retail floor area432,000 square feet (40,100 m2)
No. of floors1 with partial lower level
Websitegreendalemall.com

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]

On December 19, 2018, it was announced that Big Lots would be closing in January 2019.[5]

On September 9, 2019, it was announced that Best Buy would also be closing in November 2019 which left DSW and TJ Maxx as the only anchors left.[6]

On December 16, 2019 a Boston developer bought the rundown Greendale Mall in Worcester and the new owner plans to demolish the 32-year-old shopping center and replace it with a mix of retail, apartments, and office space.

Due to COVID-19, in July of 2020 DSW closed their Greendale Mall location for good and sent all the remaining merchandise to other nearby locations. Which makes TJ Maxx the only anchor and last store of the mall that remains.

Anchor stores

References
  1. "Marshalls at mall closed - Worcester Telegram & Gazette". telegram.com. Retrieved 2012-08-31.
  2. BONACCI, SAM (February 25, 2016). "Greendale Mall's value plummets 77%, foreclosure possible". American City Business Journals.
  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.
  5. https://www.masslive.com/worcester/2018/12/big-lots-in-worcester-closing-leaving-greendale-mall-even-more-empty.html
  6. https://www.telegram.com/news/20190909/best-buy-at-greendale-mall-closing-in-november

https://www.wbjournal.com/article/greendale-mall-to-be-demolished-turned-into-apartments-medical-offices

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