Wyoming Valley Mall Explained

Wyoming Valley Mall
Location:Wilkes-Barre Township, Pennsylvania, United States
Coordinates:41.2473°N -75.8446°W
Address:29 Wyoming Valley Mall
Opening Date:1971[1]
Developer:Crown Construction Company[2]
Owner:4th Dimension Properties[3]
Number Of Stores:70[4]
Number Of Anchors:4[5]
Floor Area:910000square feet
Publictransit: NEPTA bus routes 10, 17, 18[6] Hazleton Public Transit route 15[7]

Wyoming Valley Mall is a shopping mall located in Wilkes-Barre Township, Pennsylvania.[8] It is anchored by JCPenney and Macy's.[1]

History

Work began on the mall in April 1968, when land was purchased from the Blue Coal Corporation. Illegally dumped garbage from the East Side Landfill Authority was removed during early work. Sears opened before the mall in early 1971. Pomeroy's opened in August and JCPenney in April 1972.[2] Wyoming Valley Mall did not become successful until Hurricane Agnes in 1972 caused significant damage to the surrounding area and the post-disaster need for supplies.[9] Multiple movie theaters have existed at the mall, opening with two screens inside, and later adding another three outside.[2] Zollinger closed in October 1977, with Hess's opening in May 1978.[2] [10]

Wyoming Valley, along with the Viewmont Mall, was sold by Crown American to PREIT in 2003.[11] Wyoming Valley Mall was renovated in 2006 for $8 million, and received significant cosmetic changes.[12] [13] H&M opened at the mall in September 2017, occupying three storefronts.[14] In April 2018, The Bon-Ton and Sears both announced they would close.[15] Wyoming Valley Mall was undamaged during the June 2018 EF2 tornado, but lost power and was closed for a day.[16] Bon-Ton, open since 1971 (originally as Pomeroy's), closed on August 29, 2018.[9] [17] [18] Ken Pollock Auto Group opened a service center in February 2019 using the former Sears Auto Center.[19]

The mall was turned over to its lender, GS Mortgage Securities Trust, by PREIT in late September 2019 after not being sold.[20] [21] PREIT owed $72.8 million on the loan, which had been in special servicing since July 2018.[20] [22] Wyoming Valley Mall had lost 75% of its 2014 $122 million value before being turned over.[23] Jones Lang LaSalle took over management of the mall in October 2019.[24] Wyoming Valley Mall was sold to the Kohan Retail Investment Group for $17 million in August 2021.[25] 4th Dimension Properties bought the mall in October 2023.[3]

Notoriety

The mall sits on land that was involved in the 1919 Baltimore Mine Tunnel Disaster.[26]

External links

Notes and References

  1. Web site: Wyoming Valley Mall - PREIT. PREIT. 30 April 2019.
  2. News: Look back: The construction of the Wyoming Valley Mall . 10 December 2018 . Times Leader . 9 December 2018.
  3. News: Tomkavage . Robert . Florida firm acquires Wyoming Valley Mall . 18 October 2023 . Scranton Times-Tribune . 17 October 2023 . en.
  4. News: Guydish. Mark. Bucking the trend: Wyoming Valley Mall remains viable as others shut down. 26 April 2018. Times Leader. October 15, 2017.
  5. Web site: Wyoming Valley Mall - PREIT . PREIT . 30 April 2019 . https://web.archive.org/web/20180427045053/https://www.preit.com/properties/mall-portfolio/wyoming-valley-mall/ . April 27, 2018.
  6. Web site: System Map – LCTA . Luzerne County Transportation Authority . 5 September 2019.
  7. Web site: Wilkes Barre Mountain Top . Hazleton Public Transit . 5 September 2019.
  8. Web site: Google Maps - Wilkes-Barre Township, PA. Google Maps. 30 April 2019.
  9. Book: Lisicky . Michael J. . Shop Pomeroy's First . 2014 . Arcadia Publishing . 9781625850836 . 30 August 2018 . en.
  10. News: Moylan . Tom . Zollinger Bankruptcy Nears The End . 30 August 2018 . The Morning Call . June 11, 1986.
  11. News: Bolus . Kathleen . Viewmont, busy with changes, provides contrast to Mall at Steamtown . 8 May 2019 . Times Tribune . September 21, 2014.
  12. News: Hudson . Kris . Malls Race to Stay Relevant in Downturn . 8 January 2019 . Wall Street Journal . February 26, 2009 . https://web.archive.org/web/20171203154842/https://www.wsj.com/articles/SB123560071463276187 . December 3, 2017.
  13. News: Scenes from an American Mall . 30 August 2018 . Wall Street Journal . 3 March 2009.
  14. News: Blackburne. Carolyn. Hundreds of Shoppers Come out for Grand Opening of Popular Clothing Store. 26 April 2018. WNEP. 28 September 2017.
  15. News: O’Boyle. Bill. Search is on to find two new anchor tenants for Wyoming Valley Mall. 26 April 2018. Times Leader. April 20, 2018.
  16. News: Leckey . Ryan . Wyoming Valley Mall Reopens after Power Outage Caused by Tornado . 22 June 2018 . WNEP . 15 June 2018.
  17. News: Stokes . Dan . Bon-Ton's Wyoming Valley Mall store closes after nearly 50 years. 30 August 2018 . Times Leader . 29 August 2018.
  18. News: Hiller . Mark . The last day at Bon-Ton . 30 August 2018 . PAHomepage . 30 August 2018.
  19. News: Allabaugh . Denise . New life for former Sears Auto Center . 15 February 2019 . Citizens Voice . January 25, 2019.
  20. News: PREIT Turns Over Wyoming Valley Mall in Deed-In-Lieu of Foreclosure . 1 October 2019 . Commercial Real Estate Direct . September 27, 2019.
  21. News: Allabaugh . Denise . Wyoming Valley Mall avoids foreclosure . 1 October 2019 . www.citizensvoice.com . October 1, 2019.
  22. News: $74.3Mln CMBS Loan Against Pa. Mall Moves to Special Servicer as Vacancies Increase . 1 October 2019 . Commercial Real Estate Direct . July 13, 2018.
  23. News: Kostelni . Natalie . PREIT gives mall back to lender . 1 October 2019 . Philadelphia Business Journal . September 27, 2019.
  24. Web site: How JLL Retail Is Restructuring Deals, Preserving Key Tenants . Urban Land Magazine . 29 April 2021 . 26 April 2021.
  25. News: Lynott . Jerry . Struggling Wyoming Valley Mall has new owner . 28 August 2021 . Times Leader . 28 August 2021.
  26. News: Golias . Paul . FIRE IN THE HOLE— THE 100TH ANNIVERSARY OF BALTIMORE MINE TUNNEL DISASTER . 2 June 2019 . Citizens Voice . June 2, 2019.

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