Former St. Louis Mills Mall Hits the Auction Block
- Nov 18, 2015
The former St. Louis Mills shopping mall in Hazelwood, Mo. is now for sale on an auction website. The bidding, which is hosted by Auction.com and Newmark Grubb Knight Frank, started at $1.5 million on November 16, and ends today, November 18. Owner LNR Partners LLC put the property up for sale after several years of financial struggles during which the mall lost most of its original anchor tenants.
The 1.19 million-square-foot mall at 5555 St. Louis Mills Blvd. was built in 2003 by The Mills Corp., which later merged with Simon Property Group. The company took out a $90 million loan from Morgan Stanley in 2006, but failed to make the payments, according to the St. Louis Business Journal. Miami-based LNR acquired the St. Louis Mills mall in 2012 and renamed it St. Louis Outlet Mall.
Currently 77 percent occupied, the St. Louis Outlet Mall is one of the largest retail centers in the Midwest, and is home to 12 anchor tenants and more than 80 retailers and entertainment businesses. The center’s tenant roster includes Cabela’s, Regal St. Louis Stadium 18 & IMAX, Ross Dress for Less, Bed Bath & Beyond, and Ice Zone—the official practice facility of the St. Louis Blues hockey team.
The mall benefits from a convenient location just 16 miles northwest of downtown St. Louis, with access to Highway 370 and Interstate 270.
Photo courtesy of St. Louis Outlet Mall