Latham Circle Mall
Encyclopedia
Latham Circle Mall is an enclosed shopping mall located adjacent to the Latham Circle
(the intersection of US 9 and NY 2
) in Latham
, New York. Built in 1957 as Latham Corners Shopping Center, the mall was renovated several times in its history. It is anchored by JCPenney, Regal Cinemas
, Burlington Coat Factory
, and Lowe's
Home Improvement. With very few inline tenants remaining, it is classified as a dead mall
.
, a new JCPenney store to replace the old one and a second level which would house the ten screen movie theater. The two level space occupied by The Boston Store closed in the late 1980s, however, due to a fire. The store closed for remodeling and was replaced by Burlington Coat Factory
in the early 1990s.
Woolworth closed in 1995 and was replaced in 1998 with Stein Mart
, which subsequently closed in 2001. Also, Caldor closed in early 1999 when the chain went out of business. The Caldor wing was finally demolished in 2003 for a Lowe's
which does not open out to the mall. Many other tenants began to leave during the 2000s, leaving Latham Circle as a dead mall
.
In February 2010, owners of the mall have been in talks with a major retailer to occupy the open space.
took over leasing at Latham Circle Mall. They have released a new redevelopment plan, which aims to be a mixture of anchor stores, small shops, restaurants and grocery. This plan involves removing most, if not all, of the indoor mall portion. Existing anchor stores such as JC Penny, Burlington Coat Factory, and Lowe's will remain in their current locations.
Latham Circle
The Latham Circle is the intersection of US Route 9 and NY Route 2 within the town of Colonie, New York in Albany County.-Description:The circle takes the name from the hamlet of Latham, of which the circle is close to the exact center...
(the intersection of US 9 and NY 2
New York State Route 2
New York State Route 2 is a state highway in the Capital District of New York, United States. It extends from an interchange with Interstate 87 and NY 7 in the hamlet of Latham within the town of Colonie to the Massachusetts state line, where it continues to Boston as Route 2....
) in Latham
Latham, New York
Latham is a hamlet in Albany County, New York, United States. It is located along U.S. Route 9 in the town of Colonie, a dense suburb north of Albany.-History:...
, New York. Built in 1957 as Latham Corners Shopping Center, the mall was renovated several times in its history. It is anchored by JCPenney, Regal Cinemas
Regal Entertainment Group
Regal Entertainment Group also known as REG is a movie theater chain headquartered in Knoxville, Tennessee. Regal operates the largest and most geographically diverse theater circuit in the United States, consisting of 6,775 screens in 548 locations in 39 states and the District of Columbia as of...
, Burlington Coat Factory
Burlington Coat Factory
Burlington Coat Factory Warehouse Corporation is a national department store retailer focusing on clothing and shoes, with over 450 stores in 45 states and Puerto Rico.. In 2006, it was acquired by Bain Capital, LLC in a take-private transaction...
, and Lowe's
Lowe's
Lowe's Companies, Inc. is a U.S.-based chain of retail home improvement and appliance stores. Founded in 1946 in North Wilkesboro, North Carolina, the chain now serves more than 14 million customers a week in its 1,710 stores in the United States and 20 in Canada. Expansion into Canada began in...
Home Improvement. With very few inline tenants remaining, it is classified as a dead mall
Dead mall
A dead mall or greyfield is a shopping mall with a high vacancy rate or a low consumer traffic level, or that is dated or deteriorating in some manner. Many malls in the United States are considered "dead" when they have no surviving anchor store or successor that could serve as an entry into or...
.
History
Latham Circle Mall was opened in 1957 as an open-air plaza called Latham Corners Shopping Center before being converted into an enclosed mall in 1977. The new mall featured a JCPenney (which stayed over from the original strip), Woolworth, and Boston Store as anchors. The mall was expanded in 1988 to include a CaldorCaldor
Caldor was a chain of American discount department stores headquartered in Norwalk, Connecticut, operating throughout the northeastern United States. At one time, the company was a subsidiary of May Department Stores; Caldor was among the country's largest discount retailers.Despite being a popular...
, a new JCPenney store to replace the old one and a second level which would house the ten screen movie theater. The two level space occupied by The Boston Store closed in the late 1980s, however, due to a fire. The store closed for remodeling and was replaced by Burlington Coat Factory
Burlington Coat Factory
Burlington Coat Factory Warehouse Corporation is a national department store retailer focusing on clothing and shoes, with over 450 stores in 45 states and Puerto Rico.. In 2006, it was acquired by Bain Capital, LLC in a take-private transaction...
in the early 1990s.
Woolworth closed in 1995 and was replaced in 1998 with Stein Mart
Stein Mart
Stein Mart is a nationwide department store based in Jacksonville, Florida. The company reported a profit of nearly $24 million in 2009 with operation of 264 stores in 30 states and the District of Columbia. Stein Mart has locations primarily in the Southeast and Texas. Stein Mart's stores carry...
, which subsequently closed in 2001. Also, Caldor closed in early 1999 when the chain went out of business. The Caldor wing was finally demolished in 2003 for a Lowe's
Lowe's
Lowe's Companies, Inc. is a U.S.-based chain of retail home improvement and appliance stores. Founded in 1946 in North Wilkesboro, North Carolina, the chain now serves more than 14 million customers a week in its 1,710 stores in the United States and 20 in Canada. Expansion into Canada began in...
which does not open out to the mall. Many other tenants began to leave during the 2000s, leaving Latham Circle as a dead mall
Dead mall
A dead mall or greyfield is a shopping mall with a high vacancy rate or a low consumer traffic level, or that is dated or deteriorating in some manner. Many malls in the United States are considered "dead" when they have no surviving anchor store or successor that could serve as an entry into or...
.
In February 2010, owners of the mall have been in talks with a major retailer to occupy the open space.
Cancelled renovation
It was reported on May 19, 2007 by all major Albany media outlets that plans were underway to renovate the mall. The plan would have involved a complete refacing of the building, as well as several new tenants. The renovation never materialized, however. Latham Circle Mall has since faced foreclosure and is in debt for $21 million.New ownership
In September 2009 the mall's Boston-area lender, LR6-A Latham L.L.C., bought the property at auction. The lender, which is an affiliate of the real estate investment firm Realty Financial Partners of Wellesley, Mass. brought foreclosure proceedings against the mall last year.New leasing effort
On May 2, 2011, CB Richard EllisCB Richard Ellis
CBRE Group, Inc. , a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm . The Company has approximately 31,000 employees , and serves real estate owners, investors and occupiers through more than 300 offices worldwide...
took over leasing at Latham Circle Mall. They have released a new redevelopment plan, which aims to be a mixture of anchor stores, small shops, restaurants and grocery. This plan involves removing most, if not all, of the indoor mall portion. Existing anchor stores such as JC Penny, Burlington Coat Factory, and Lowe's will remain in their current locations.