Contact Us. Submit Local News Here. Login Register. Advertise - Online Store. Subscribe Free. November Digital Edition Nov 04, at pm by Katy. Privacy Policy. The mall also has the lone Central Florida Macy's that will be closing. However, there's a lot of new commercial development happening near the mall , including shops, restaurants, apartments and the city's first hotels on the horizon, as Orlando Business Journal previously reported.
Plus, the mall serves an affluent, desirable and family-oriented local community, elements that make it an attractive property for an investor, Carson said in a prepared statement.
The new owner, an affiliate of Ilbak Investments, is expected to now go through a combination of remerchandising and redevelopment that will turn things around for the mall, Carson said in the statement.
The property had been on the market since , OBJ previously reported. Come back to OrlandoBusinessJournal. The old Sears is now being used as a coronavirus vaccination site, which Hipes said is helping bring in more shoppers. Hipes is transforming the acre property into a mixed-use space, with luxury apartments in the Old Macys spot, and apartments for people who are at least 55 years old, with a room hotel, and entertainment and restaurant options.
From here, they're going to Orlando or Lake Mary. The mixed-use option is the best way to go for the mall, which had been struggling with sales for years before the pandemic, he said. Behavior analyst Jennifer Beye, who has been coming to the mall for two decades with her special-needs clients, said she loves the plan for new entertainment options.
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