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Towne Square Mall - Wikipedia

Coordinates: 37°43′14″N 87°07′41″W / 37.720572°N 87.1281856°W

From Wikipedia, the free encyclopedia

Towne Square Mall

Location	Owensboro, Kentucky, United States
Coordinates	37°43′14″N 87°07′41″W / 37.720572°N 87.1281856°W / 37.720572; -87.1281856
Address	5000 Frederica Street
Opening date	March 1, 1978^[1]
Closing date	September 5, 2023
Management	Gulfstream Commercial Services LLC^[2]^[3]
Owner	TSM Holdings LLC^[4]
No. of stores and services	52^[5]^{[needs update]}
No. of anchor tenants	3^[5]
Total retail floor area	437,752 square feet (41,000 m²)^[6]
No. of floors	1^[5]
Parking	2,493 spaces^[5]
Public transit access	Owensboro Transit System^[7]
Website	www.shoptownesquare.com

Towne Square Mall is a shopping mall located in Owensboro, Kentucky.^[3]^[6]^[8]

History

Towne Square Mall was built by David Hocker and Alan Squitieri for $20 million, with Squitieri later being bought out.^[9] It opened on March 1, 1978, and was one of the largest shopping centers in the area.^[1] JCPenney moved to the mall from downtown.^[8] Heitman Advisory Corporation (Heitman Financial) purchased most of the malls shares in 1987. Hocker and Associates continued as management.^[9] TS Partners (Heitman Real Estate Fund III and Southwestern Bell Corporation Master Pension Trust) sold the mall for $29 million to Aronov Realty Management and NationsBank of Texas in 1998.^[9] Lakestar Properties purchased the mall for $29 million in April 2007 from Aronov Realty Management.^[1] Sears closed in December 2014.^[10]

U.S. Bank National Association foreclosed on the mall in July 2015, with the mall owing $27.6 million.^[1] Jones Lang LaSalle managed the mall as its receiver.^[11] U.S. Bank later purchased the mall at auction for almost $19 million.^[12] Kohan Retail Investment Group purchased the mall for $2.9 million in May 2018. Macy's was not part of the sale due to owning its building. Additional property purchases around the mall totaled $1.1 million.^[13]^[14] Towne Square Mall was again sold in December 2019 to Towne Square Mall Holdings LLC (TSM Holdings LLC) for $5.15 million.^[2]^[3]^[4] Management of the mall was changed to Gulfstream Commercial Services LLC, one of its owners.^[2]^[3] Macy's closed in spring 2020.^[15] JCPenney closed later in 2020.^[8]^[16]

The former Macy's, not owned by the mall, was sold to Owensboro Indoor Sports LLC for $1.25 million in July 2020. Plans are to convert the building to a sports facility. ^[17]^[18] Due to the COVID-19 pandemic, the plans are delayed as of January 2021.^[19]

On August 8, 2023, the remaining open tenants that were located in the interior of the mall were handed eviction notices as the mall announced that it would be closing permanently by September 5, 2023, for future redevelopment plans.^[20]

References

^ ^a ^b ^c ^d Lawrence, Keith (July 10, 2015). "Bank seeks foreclosure of Owensboro mall". The Messenger. The Messenger-Inquirer. Retrieved 12 December 2019.
^ ^a ^b ^c Mayse, James (December 10, 2019). "Local investors purchase Towne Square Mall". Messenger-Inquirer. Retrieved 12 December 2019.
^ ^a ^b ^c ^d Lawrence, Keith (December 11, 2019). "Ray says mall can again be destination". Messenger-Inquirer. Retrieved 12 December 2019.
^ ^a ^b "TSM Holdings buys Towne Square Mall". The Owensboro Times. 10 December 2019. Retrieved 12 December 2019.
^ ^a ^b ^c ^d "Towne Square Mall" (PDF). Jones Lang LaSall. Retrieved 11 December 2019.
^ ^a ^b "Towne Square Mall" (PDF). Veritas Realty. Retrieved 11 December 2019.
^ "OTS Route Map" (PDF). Retrieved July 27, 2023.
^ ^a ^b ^c Lawrence, Keith (July 15, 2020). "JCPenney closing mall store, 153 others". Owensboro Messenger-Inquirer. Retrieved 17 July 2020.
^ ^a ^b ^c Lawrence, Keith (February 11, 2016). "Clock ticking for Owensboro mall". The Messenger. The Messenger-Inquirer. Retrieved 12 December 2019.
^ Campbell, Joy (September 20, 2014). "Sears closing Owensboro store: 52 employees affected; target date is Dec. 7". The Messenger. The Messenger-Inquirer. Retrieved 12 December 2019.
^ Lawrence, Keith (July 30, 2015). "Owensboro mall appears headed for auction block". The Messenger. The Messenger-Inquirer. Retrieved 12 December 2019.
^ "U.S. Bank Buys Towne Square Mall in Owensboro". Eyewitness News (WEHT/WTVW). 16 February 2016. Retrieved 12 December 2019.
^ Lawrence, Keith (May 16, 2018). "New York investment firm buys Owensboro mall". Kentucky New Era. The Messenger-Inquirer. Retrieved 12 December 2019.
^ Kapusta, Katie (May 15, 2018). "Towne Square Mall has a new owner". 14news. WFIE. Retrieved 12 December 2019.
^ "Macy's in Towne Square Mall to close". The Owensboro Times. 6 January 2020. Retrieved 20 February 2020.
^ Erin, McNally (June 5, 2020). "JC Penney permanently closing Owensboro location". 14news. WFIE. Retrieved 17 July 2020.
^ Pickens, Katie (16 July 2020). "Former Macy's could be converted into indoor sports complex". The Owensboro Times. Retrieved 17 July 2020.
^ McNally, Erin (July 16, 2020). "Owensboro Indoor Sports LLC purchases old Macy's property". WFIE. Retrieved 17 July 2020.
^ Lawrence, Keith (January 1, 2021). "Greater Owensboro Realty sold". Owensboro Messenger-Inquirer. Retrieved 2 January 2021.
^ "Towne Square Mall closing after nearly half a century serving Owensboro". 14 News. August 12, 2023. Retrieved August 12, 2023.

External links

Towne Square Mall official website

v t e Shopping malls in Kentucky
Louisville	Bashford Manor Mall Fourth Street Live! Jefferson Mall Mall St. Matthews Mid-City Mall Oxmoor Center Paddock Shops
Lexington	Fayette Mall Hamburg Pavilion Lexington Mall Mall at Lexington Green The Summit at Fritz Farm Turfland Mall
Elsewhere	Ashland Town Center Camayo Arcade Camp Landing Entertainment District Florence Mall Greenwood Mall Kentucky Oaks Mall Middlesboro Mall Newport on the Levee Outlet Shoppes of the Bluegrass South Side Mall Towne Square Mall

v t e Owensboro, Kentucky
Subject areas	Culture Demographics Education Geography Government History Media People Transportation
Top subjects	Ben Hawes Golf Course and Park Brescia University Daymar College International Bar-B-Q Festival International Bluegrass Music Museum Kentucky Wesleyan College Kentucky Wesleyan Panthers OMGcon Owensboro Medical Health System Hospital Owensboro Public Schools Owensboro Sportscenter Owensboro Transit System Towne Square Mall Western Kentucky Botanical Garden
Prominent suburbs	Calhoun Hawesville Island Lewisport Livermore Sacramento Whitesville

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