Sunday, August 8, 2021

Steeplegate Mall Informations

August 08, 2021 Posted By AdseRudita

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. It is anchored by JCPenney and Sears stores, plus a charter school and a trampoline park that both opened in 2018. A health club will also open as an anchor in 2019.

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

Steinbach closed its store by 1999 as part of the company's bankruptcy. Sage-Allen became The Bon-Ton in 1999, with a second Bon-Ton and Circuit City splitting the former Steinbach. Circuit City closed in 2009.

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. 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. 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.

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

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

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.

In April 2018, Bon-Ton closed both of its stores as part of a plan to close 42 stores nationwide. Later that same year, a charter school called Capital City Charter School moved into the former Bon-Ton men's clothing and houseware store and opened on September 5, while an Altitude Trampoline Park franchise opened within the former Circuit City space in November.

In March 2019, a health club called The Zoo announced that it will open a franchise in the former Bon-Ton women's and children's store, marking the first time since Circuit City's closure that all five anchors in the mall will have an active permanent tenant. In May 2019, one of the mall's longest running tenants, a confectionery called True Confections Candies and Gifts, announced that it would be moving out of the mall. The store's owner—who previously told the Concord Monitor in December 2018 that they intended to stay in Steeplegate—cited declining foot traffic and the mall's owners' unwillingness to lower rent rates as reasons for exiting business in the mall.