ELYRIA — Rumors again are circulating about the ownership of Midway Mall after an apparently new “for sale or lease” sign was seen Monday.
Whether or not the entire property, which last sold for $4.5 million in mid-2017, or just a portion of it is up for sale remains to be seen.
A call to the number on the sign, for a representative of the real estate and management company Colliers International, rang unanswered Monday.
Elyria Mayor Holly Brinda said the city continues to have discussions with the mall’s owners, Namdar Realty Group of New York.
“We’re in discussions with them how they’re planning to parcel off the properties” at the mall, she said prior to Monday’s City Council meeting.
Midway Mall opened in 1965 and for more than 40 years was a destination for Lorain County shoppers. But American shoppers increasingly began purchasing online, and malls began to suffer.
Midway Mall Dillard’s closed in 2007, followed by Macy’s in 2016, and Sears in June. J.C. Penney Co. and Best Buy remain the last large “anchor” stores open for business there.
Brinda said city officials met with Namdar last year after rumors surfaced that the mall was again being sold.
“They said ‘no,’” that it was not being sold again,” she said.
There also are “some associated legal issues” with the property, but Brinda said city leaders remain “in communication” with mall owners to take the mall “in a positive direction to better execute the redevelopment plan in place.”
The mall has had numerous owners since the turn of the century. Jacobs Group of Cleveland sold it to The Westfield Group in 2001, and it was renamed Westfield Midway. Westfiled sold the mall to Centro Properties Group in 2006, and the name went back to Midway Mall. Namdar bought the mall in an online auction in July 2017.
Johnny K’s Powersports bought the former Macy’s store at Midway Mall in January 2018. The city’s Community Investment Corporation loaned $500,000 to the project and City Council approved a 10-year, 75 percent tax abatement for Johnny K’s.
Numerous Ohio malls have folded and have been demolished in the past decade, including Randall Park Mall in North Randall, Parmatown in Parma, Westgate Center in Fairview Park and Rocky River, and Rolling Acres Mall in Akron.
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