entury III Mall is the fourth largest shopping mall in the Pittsburgh region. Situated in the southern suburb of West Mifflin, Pennsylvania, the three-level mall contains 1,290,000 square feet of retail space and about 110 stores (out of approximately 180 locations). Anchor retailers at Century III include Dick's Sporting Goods, J. C. Penney, Macy's and Sears. The mall underwent a complete remodeling in 1997.
The gradual decline of Century III Mall can be attributed for the most part to the development of the Waterfront in nearby Homestead, which opened in 1999 and expanded over the years. Other factors, such as the worsening economy and retailer bankruptcies are also negatively affecting the mall. In 1999, it lost a major tenant when Federated Department Stores closed the Lazarus store due to underperforming sales. Other major stores, such as T.J. Maxx & More and Wickes Furniture, have since closed, only to be replaced by stores typically found in less productive and/or mid-market malls. As early as 2003, Century III Mall was about 20% vacant , and as of 2006, it was 30% vacant. Today, the mall is at 70% occupancy with much of its spaces occupied by discount stores and local specialty stores selling odds and ends. As of January 2009, KB Toys, Steve and Barry's, Old Navy, and Macy's Furniture Gallery, four major tenants of the mall have closed their stores. Ruby Tuesday, a longtime dining establishment, also closed down in December 2008. Although Macy's has closed their furniture and clearance store due to under-performing sales, their main store will remain open.
Century III Mall has been on the selling block since 2006, according to Simon Property Group, claiming that it doesn't fit the company's portfolio of more upscale malls, such as Ross Park Mall in Pittsburgh's North Hills and the nearby South Hills Village mall.
As the mall continues to languish, this has also affected the mall's assessment value, which stood at $66 million in April 2009, a 40 percent decrease from the previous $112 million in recent years. Prior to that, the mall was valued at $128 million. In June 2009, it decreased further to $58 million.
In June 2009, Century III Mall was named one of America's most endangered malls by U.S. News & World Report.