GNC will close hundreds of stores as it restructures in bankruptcy. A longtime employee working there, who didnt want to be identified, said that she is sorry to see the store closing and that the final day for the store will be Feb. 15. Southland Mall is the oldest in the city, and Macys has been there a decade. Industrial development, meantime, is expected to pick up 3.6%. But shopping malls are likely going to be shuttering in suburbs all across the country, as store closures grow in number and landlords capitulate. The new owners are planning for a mixed-use redevelopment of the 80-acre site with commercial and residential components. The news that the largest U.S. mall operator, Simon Property Group, has decided to close all of its more than 200 shopping centers is expected to trigger more mass mall closings across the country . We want to hear from you. In October, the commercial brokerage JLL was tapped to sell the $65.1 million CMBS loan tied to the mall. Southland is the closest area mall to the Canadian border crossing, Brookfield said. From bad to worse: Student misbehavior rises further since return of in-person McConnell insists hes sitting out debt talks to disbelief. More Macy's stores to close in 2023. See the list of closing - MSN How much longer can Kansas City's shopping malls hang on? Here's where One shopper, Rebecca Miranda, an area resident, was happy with the low prices on her finds but was not happy about the reason behind them. Southland Center (Michigan) - Wikipedia Other industry watchers predict a similarly painful fate for malls and retail stores more generally. The massive Sears store in Southland Mall, long a fixture of the shopping center in Cutler Bay and an anchor store there since even before Hurricane Andrew in 1992 forced major remodeling of the mall, is closing. These closures come on the heels of Macys opening multiple off-mall, small-format stores in 2022. Southland Center is the latest mall in metropolitan Detroit to face a financial challenge. "Just because retail space has gone vacant or remained fallow does not mean that it is automatically a good candidate for repurposing into industrial space," the head of Moody's Analytics commercial real estateeconomics division, Victor Calanog,said in a report released Thursday. Save my name, email, and website in this browser for the next time I comment. One of its largest anchor tenants, Kmart, left in 2017. The firm did find five markets where it said it would make the most sense to covert vacant retail space into warehouse space, based on where retail has been underperforming and where warehouse demand is hot. SMART 210, 250. I am sad to see it go..