The owners of the mall, Vornado, recently sold the mall for $465 million to Pennsylvania Real Estate Investment Trust, the Washington Post reported.
The mall, originally built in 1973, is undergoing a redevelopment that began with demolition in November 2012.
Several tenants have already signed lease agreements in anticipation of the redevelopment's completion, according to CoStar Group, including:
- Michael Kors
- Francesca's Collection
- Yard House Restaurant
- Wood Ranch BBQ
- Dick's Sporting Goods
- Regal Cinema
In all, the non-anchor space is 30 percent leased, according to CoStar Group. The mall is anchored by Macy's, Target and JCPenney, which will all remain operational while the mall is closed for construction.
What are you looking forward to most at Springfield Town Center?