Mall of the Mainland
Encyclopedia
The Mall of the Mainland is a shopping mall
located off the Emmett F. Lowry Expressway near Interstate 45
(Gulf Freeway) in Texas City, Texas
. It was opened in 1991. The mall has 800000 square foot of space. The mall's website reported 44 stores on January 15, 2011 (Including the food court) The mall is anchored by Macy's
, Sears, Palais Royal
, and Cinemark Movies 12.
In 1997 the bank took over the mall, because, as Ralph Bivins of the Houston Chronicle
said in 2002, "the developer failed to make it a highly successful retail venture." A subsidiary of the bank owned the mall. Verbecke said that the bank had no interest in making significant improvements and marketing the Mall of the Mainland and that the mall "suffered from being institutionally owned."
An investment group headed by Bob Yari and Kam Mateen bought the Mall of the Mainland in May 2002. The major anchor tenants, such as Dillard's
, Foley's
, and J.C. Penney
, continued to own their own buildings within the complex, while the joint venture owned the rest of the mall and leased to restaurants and smaller stores. The group purchased 312500 square foot of retail space and 32 acres (12.9 ha) of land at the Mall of the Mainland, allowing the group to sell parcels to allow for the development of free-standing retailers and restaurants. Bivins said that the exact sales price had not been disclosed and that the sales price was less than the price it cost to build the mall.
During May 2002 the Mall of the Mainland was 65% occupied. Bivins said in 2002 that the mall had "significant competition" with the Baybrook Mall
in Houston, located 10 miles (16.1 km) north of the Mall of the Mainland, which Bivins said was "the dominant retail force on the southeast side of Houston." Bivins said in 2002 that experts of the shopping center industry did not consider the Mall of the Mainland to be successful. Bivins added that the Mall of the Mainland was "criticized for not being highly visible from" Interstate 45
(Gulf Freeway), which carries traffic between Galveston and Houston.
In November 2006 Triyar Cos. LLC, owned by the Yari family, put the mall and several other Greater Houston
malls for sale; the company allowed a buyer to either buy an individual property, or buy all of them at once.
Also in 2006, JCPenney announced to close the Mall of the Mainland location, and is currently vacant.
Dillard's
closed in 2008 due to $4 million damages of Hurricane Ike
, space is currently vacant. Dillard's sign was removed in 2009.
Shopping mall
A shopping mall, shopping centre, shopping arcade, shopping precinct or simply mall is one or more buildings forming a complex of shops representing merchandisers, with interconnecting walkways enabling visitors to easily walk from unit to unit, along with a parking area — a modern, indoor version...
located off the Emmett F. Lowry Expressway near Interstate 45
Interstate 45
Interstate 45 is an intrastate Interstate Highway located entirely within the U.S. state of Texas. It connects the cities of Dallas and Houston, continuing southeast from Houston to Galveston over the Galveston Causeway to the Gulf of Mexico...
(Gulf Freeway) in Texas City, Texas
Texas City, Texas
Texas City is a city in Chambers and Galveston counties in the U.S. state of Texas. The population was 41,521 at the 2000 census. It is a part of the Houston–Sugar Land–Baytown, Texas Metropolitan Statistical Area.-History:...
. It was opened in 1991. The mall has 800000 square foot of space. The mall's website reported 44 stores on January 15, 2011 (Including the food court) The mall is anchored by Macy's
Macy's
Macy's is a U.S. chain of mid-to-high range department stores. In addition to its flagship Herald Square location in New York City, the company operates over 800 stores in the United States...
, Sears, Palais Royal
Palais Royal
The Palais-Royal, originally called the Palais-Cardinal, is a palace and an associated garden located in the 1st arrondissement of Paris...
, and Cinemark Movies 12.
History
The Mall of the Mainland, developed by a joint venture of Edward J. DeBartolo Corp. and the MG Herring Group, opened in 1991. The developers spent $200 per 1 square foot in the development; Joelle Verbecke, a director of acquisitions at the Yari Group, said in 2002 that the $200 per square foot figure was "a hefty sum that means the developers constructed a high-quality mall." J.P. Morgan Chase Bank was the lender.In 1997 the bank took over the mall, because, as Ralph Bivins of the Houston Chronicle
Houston Chronicle
The Houston Chronicle is the largest daily newspaper in Texas, USA, headquartered in the Houston Chronicle Building in Downtown Houston. , it is the ninth-largest newspaper by circulation in the United States...
said in 2002, "the developer failed to make it a highly successful retail venture." A subsidiary of the bank owned the mall. Verbecke said that the bank had no interest in making significant improvements and marketing the Mall of the Mainland and that the mall "suffered from being institutionally owned."
An investment group headed by Bob Yari and Kam Mateen bought the Mall of the Mainland in May 2002. The major anchor tenants, such as Dillard's
Dillard's
Dillard's, Inc. is a department store chain in the United States, with 330 stores in 29 states. Headquartered in Little Rock, Arkansas, Dillard's locations are concentrated in Texas and Florida; with a major presence in other states including Arizona, Iowa, Colorado, Wyoming, Kansas, Missouri,...
, Foley's
Foley's
Foley’s was a chain of department stores owned by May Department Stores and headquartered in Downtown Houston, Texas. As of August 30, 2005, the division was dissolved and operation of the stores was assumed by Federated's Macy's West and Macy's South divisions. Foley's operated stores in Texas,...
, and J.C. Penney
J.C. Penney
J. C. Penney Company, Inc. is a chain of American mid-range department stores based in Plano, Texas, a suburb north of Dallas. The company operates 1,107 department stores in all 50 U.S. states and Puerto Rico. JCPenney also operates catalog sales merchant offices nationwide in many...
, continued to own their own buildings within the complex, while the joint venture owned the rest of the mall and leased to restaurants and smaller stores. The group purchased 312500 square foot of retail space and 32 acres (12.9 ha) of land at the Mall of the Mainland, allowing the group to sell parcels to allow for the development of free-standing retailers and restaurants. Bivins said that the exact sales price had not been disclosed and that the sales price was less than the price it cost to build the mall.
During May 2002 the Mall of the Mainland was 65% occupied. Bivins said in 2002 that the mall had "significant competition" with the Baybrook Mall
Baybrook Mall
Baybrook Mall, is a shopping mall located 30 km southeast of downtown Houston at Interstate 45 South and Bay Area Blvd in Friendswood, Texas, United States. It has five major anchors and more than 170 stores and restaurants...
in Houston, located 10 miles (16.1 km) north of the Mall of the Mainland, which Bivins said was "the dominant retail force on the southeast side of Houston." Bivins said in 2002 that experts of the shopping center industry did not consider the Mall of the Mainland to be successful. Bivins added that the Mall of the Mainland was "criticized for not being highly visible from" Interstate 45
Interstate 45
Interstate 45 is an intrastate Interstate Highway located entirely within the U.S. state of Texas. It connects the cities of Dallas and Houston, continuing southeast from Houston to Galveston over the Galveston Causeway to the Gulf of Mexico...
(Gulf Freeway), which carries traffic between Galveston and Houston.
In November 2006 Triyar Cos. LLC, owned by the Yari family, put the mall and several other Greater Houston
Greater Houston
Houston–Sugar Land–Baytown is a 10-county metropolitan area defined by the Office of Management and Budget. It is located along the Gulf Coast region in the U.S. state of Texas...
malls for sale; the company allowed a buyer to either buy an individual property, or buy all of them at once.
Also in 2006, JCPenney announced to close the Mall of the Mainland location, and is currently vacant.
Dillard's
Dillard's
Dillard's, Inc. is a department store chain in the United States, with 330 stores in 29 states. Headquartered in Little Rock, Arkansas, Dillard's locations are concentrated in Texas and Florida; with a major presence in other states including Arizona, Iowa, Colorado, Wyoming, Kansas, Missouri,...
closed in 2008 due to $4 million damages of Hurricane Ike
Hurricane Ike
Hurricane Ike was the second-costliest hurricane ever to make landfall in the United States, the costliest hurricane ever to impact Cuba and the second most active hurricane to reach the Canadian mainland in the Great Lakes Region after Hurricane Hazel in 1954...
, space is currently vacant. Dillard's sign was removed in 2009.
Anchors
- Sears
- Macy'sMacy'sMacy's is a U.S. chain of mid-to-high range department stores. In addition to its flagship Herald Square location in New York City, the company operates over 800 stores in the United States...
- Formerly a Foley'sFoley'sFoley’s was a chain of department stores owned by May Department Stores and headquartered in Downtown Houston, Texas. As of August 30, 2005, the division was dissolved and operation of the stores was assumed by Federated's Macy's West and Macy's South divisions. Foley's operated stores in Texas,...
- Formerly a Foley's
- Palais RoyalPalais RoyalThe Palais-Royal, originally called the Palais-Cardinal, is a palace and an associated garden located in the 1st arrondissement of Paris...
- Cinemark Movies 12 (12 screens)
Former anchors
- Dillard'sDillard'sDillard's, Inc. is a department store chain in the United States, with 330 stores in 29 states. Headquartered in Little Rock, Arkansas, Dillard's locations are concentrated in Texas and Florida; with a major presence in other states including Arizona, Iowa, Colorado, Wyoming, Kansas, Missouri,...
closed in September 2008 after 4 million dollars in uninsured damages due to Hurricane IkeHurricane IkeHurricane Ike was the second-costliest hurricane ever to make landfall in the United States, the costliest hurricane ever to impact Cuba and the second most active hurricane to reach the Canadian mainland in the Great Lakes Region after Hurricane Hazel in 1954...
. The store will not reopen. - JCPenney closed in 2006.