gc
27 July 2004, 04:35 PM
Six Flags Mall hoping to land two new anchors
http://dallas.bizjournals.com/dallas/stories/2004/07/26/daily14.html?jst=b_ln_hl
A deal to secure two large businesses to anchor the beleagured Six Flags Mall in Arlington is close to being finalized, the mall's owners tell a local publication. Details of the deal, the financial numbers involved and the names of the prospective tenants were not released. A formal announcement is planned for September, they said.
The Bauer Partnership Inc. (OTCBB: BUER), a New York-based real estate investment company, bought Six Flags Mall in 2002, for $23.5 million. Adding new anchors could help revitalize Six Flags Mall, which was Arlington's first totally enclosed shopping center when it was built in 1970, industry insiders say. The mall, which sits at the intersection of E. Division Street and Texas 360, has been hit hard in recent years by competition from larger, newer Arlington malls.
Former anchor J.C. Penney pulled out in 1997, with Dillard's and Sears calling it quits in 2002. Foley's is the only original anchor, and the only major retailer, left in the mall, which has spaces for more than 50 stores. Since the major retailers left, Six Flags Mall has been anchored by alternative tenants like Everest College, which currently occupies what used to be the Penney store. Other tenants who have moved in during recent years are a USA Baby children's furniture store, the Knick Knack Antique Mall and a Burkes Outlet clothing shop.
To help the revitalization along, the owners say, they have decided to strictly adhere to mall hours -- ignored by several tenants for the past several years -- beginning on Aug. 10. The mall will be open from 10 a.m. to 9 p.m. Monday through Saturday and from noon to 6 p.m. Sunday.
http://dallas.bizjournals.com/dallas/stories/2004/07/26/daily14.html?jst=b_ln_hl
A deal to secure two large businesses to anchor the beleagured Six Flags Mall in Arlington is close to being finalized, the mall's owners tell a local publication. Details of the deal, the financial numbers involved and the names of the prospective tenants were not released. A formal announcement is planned for September, they said.
The Bauer Partnership Inc. (OTCBB: BUER), a New York-based real estate investment company, bought Six Flags Mall in 2002, for $23.5 million. Adding new anchors could help revitalize Six Flags Mall, which was Arlington's first totally enclosed shopping center when it was built in 1970, industry insiders say. The mall, which sits at the intersection of E. Division Street and Texas 360, has been hit hard in recent years by competition from larger, newer Arlington malls.
Former anchor J.C. Penney pulled out in 1997, with Dillard's and Sears calling it quits in 2002. Foley's is the only original anchor, and the only major retailer, left in the mall, which has spaces for more than 50 stores. Since the major retailers left, Six Flags Mall has been anchored by alternative tenants like Everest College, which currently occupies what used to be the Penney store. Other tenants who have moved in during recent years are a USA Baby children's furniture store, the Knick Knack Antique Mall and a Burkes Outlet clothing shop.
To help the revitalization along, the owners say, they have decided to strictly adhere to mall hours -- ignored by several tenants for the past several years -- beginning on Aug. 10. The mall will be open from 10 a.m. to 9 p.m. Monday through Saturday and from noon to 6 p.m. Sunday.