Major Redevelopment Planned For Oak Ridge Mall



The nearly-vacant mall in Tennessee is in the hands of new owners, and they are planning a major redevelopment of the once vibrant property.
RealtyLink has acquired the property at a price of $6.3 million.  "We're very, very pleased that a developer of the stature of RealtyLink has come to Oak Ridge to turn a functionally obsolete property into a modern shopping area," said Steve Arnsdorff, a Chatanooga developer and a partner of property seller Oak Ridge City Center.

Demolition work is expected to begin immediately and work around existing tenants JCPenney and Belk. Both retailers are signed on for long-term leases, and their existing operations will not be impacted. Construction on the reborn mall is set to begin this Fall, with phase one of the project set to be completed in the Spring of 2017.

RealtyLink is excited about the possibilities for the Oak Ridge Mall, and their enthusiasm has been matched by a number of retailers that have already signed on the dotted line. New tenants will include TJ Maxx, Pet Smart, Dick’s Sporting Goods, Rue 21 and Electronic Express. Phase one of the project alone is expected to cost an eye-popping $41 million. 

The Oak Ridge Mall traces its roots back to the 1950s, and debuted as the Downtown Shopping Center with an outdoor format in 1955. New ownership acquired the property in the late 1980s and converted the property to an indoor mall with expanded floor area. Previous anchors included Goody’s Family Clothing, which succumbed to bankruptcy in 2009, Proffitt’s, a department store chain that was acquired by Belk’s, and Sears, which closed its location at the Oak Ridge Mall in 2012.

Today, JCPenney and Belk are the last links to what was previously a thriving retail destination. The redevelopment brings a new beginning to the property, which will be re-born under the name Main Street Oak Ridge. There were several flirtations from other developers before RealtyLink stepped up to the plate, and the city wasn’t about to let them walk away from what Mayor Warren Gooch has described as “the black hole in the heart of our city.” 

The city is kicking in $1 million towards the cost of infrastructure improvements, and the Oak Ridge Industrial Development Board is on the hook for an additional $500,000. With new ownership in place, a substantial investment from the city, and a long list of retailers set to climb on board, there’s a good chance that this redevelopment project will capture some of the former glory that the Oak Ridge Mall had to offer. 

More about shopping malls in the USA



YESTERDAY, USA:
One of the oldest department store chains in the U.S. planned the Thanksgiving procession with the coronavirus in mind.
YESTERDAY, Netherlands:
Amsterdam The Style Outlets opens with high occupancy and a curated mix of brands.
DAY BEFORE YESTERDAY, United Kingdom:
The British Debenhams network, which operates 124 department stores, is going through some bad times.
DAY BEFORE YESTERDAY, USA:
Free master classes, the standard for Apple stores during the holiday period, are being held this year in an online format.
DAY BEFORE YESTERDAY, USA:
Shopping malls offer visitors an opportunity to interact with brands whose products are sold online only.
DAY BEFORE YESTERDAY, China:
Chinese retailer, known for a vast number of fast opening stores, is actively exploring European markets.
Friend
and Follow
Madrid Xanadú GLA:1 184 030 SF
ADDRESS: Autovía A5, salidas 22 y 25 - 28939
Spain . Madrid
Madrid Xanadú
Designer Outlet Malaga GLA:322 917 SF
ADDRESS: 29004, Málaga, Spain
Spain . Malaga
Designer Outlet Malaga
Mall of Scandinavia GLA:1 087 155 SF
ADDRESS: Evenemangsgatan 11 169 56 Solna
Sweden . Stockholm
Mall of Scandinavia
Asheville Outlets GLA:325 000 SF
ADDRESS: 800 Brevard Road, Asheville, NC 28806
USA . Asheville
Asheville Outlets


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us