GNC has closed. Goody’s and JC Penney have both said they won’t be far behind.
McMinnville Parks and Recreation will soon have a new and improved Civic Center and its presence at the mall will be greatly reduced.
With so much on the way out, it raises questions about the direction of Three Star Mall. What will be done to fill all the vacancies? And will there be consideration given to converting some of the space to offices or other uses?
Three Star Mall manager Sigourney Younglove has been in contact with mall ownership and she says negotiations are currently ongoing to bring new retail tenants to the mall. She described negotiations as promising and said names of the stores would be revealed once deals are finalized.
Stage Stores, the parent company of Goody’s, has filed for bankruptcy and said it will be closing all of its stores unless a buyer is found.
JC Penney has also filed for bankruptcy and announced the McMinnville location would be among its stores to close.
Amazon floated a plan earlier this month, according to the Wall Street Journal, to convert some former JC Penney and Sears stores into distribution hubs to deliver packages. The deal would make sense, according to sources, as the landscape continues to shift from retail to e-commerce.
Amazon wants more space closer to where customers live as it builds out its one-day delivery strategy. Malls are typically located closer to highways and residential areas than mammoth warehouses, which would allow Amazon to speed up shipping times to customers.
Meanwhile, mall owners need cash-rich tenants to replace their bankrupt anchor stores. Although Amazon warehouses would not attract much foot traffic, they would help pay the bills.
It’s not known which companies are in negotiations to lease space at Three Star Mall.