Interesting story in the Dallas Morning News today about the fate of the languishing Valley View Mall, and the fact that the new five year expansion project for LBJ will probably mean the mall is razed to make better use of the property.
With the Galleria and NorthPark Center doing a much better job of keeping up with what draws shoppers to malls, Valley View began slowly emptying of stores. Foleys became Macy’s, who shut down that location in favor of better real estate with more shoppers. Then Dillard’s left. Just the other day, several of us were talking about the last time we were in Valley View. For me, it was more than a year ago. Another person said she hadn’t stepped foot in the mall since the Dillard’s clearance sales when it closed. Another goes more frequently – but just to the AMC movie theater. Â As it stands, there are only two anchor stores – JC Penney and Sears – left, along with a smattering of small stores, a small food court and the aforementioned movie theater.
Things have flatlined so badly for the mall that its owner, Macerich Co., chose not to continue paying on a $125 million note a year ago, handing the mall over to its creditors instead.