Capital Mall has new owner

A shopper heads to the food court entrance on the south side of the Capital Mall on Monday afternoon.

Tuesday, December 18, 2012

General Growth Properties (GGP) has sold Jefferson City’s Capital Mall, and it now is being managed by a Chicago-based property management group that says the mall will stay open and become “bigger and better.”

As of Monday, neither GGP nor the new managers would name the buyer. No one has stepped forward to announce the purchase.

“GGP no longer owns Capital Mall. That’s all the information I can share with you at this time,” David Keating, GGP’s vice president of corporate communications, told the News Tribune in an e-mailed response.

No purchase price has been announced, either.

The Cole County Assessor’s Office appraises the mall property in three sections, for a total appraised value of $15.2 million.

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itsjustme 5 months, 1 week ago

Wow. I hope they live up to become “bigger and better.” That mall has Potential. I use to work security at that mall. I'm not sure if they still do that PGR Program. Any time i had someone that did not meet the age requirement's, i let them by, told them be good don't get in trouble.They are in the mall spending their hard earned money or mommy and daddy's Money. I always got a talkin to but i did not care

yamahamian 5 months, 1 week ago

And is that why you USED to work security at the mall? They have rules, your job was to enforce them or let someone capable do the job.

BigRedOne 5 months, 1 week ago

General Growth’s web site showed 78% occupancy, I am not sure who is saying 91%. Who are they trying to kid? Anyone can walk through the mall and see that it is nowhere near this high. Maybe if you took the total square feet and factored in Sears, Penny’s and Dillard’s (and maybe even if you add Hy-Vee, Pizza Hut, Wendy’s, Central Bank, Red Lobster and Hardee’s) it might be this high but if you took all the available spaces it is definitely a lot less percentage. The Mall in Columbia that GGP owns is really full and vibrant but the malls they own in St. Louis are more like the one here in Jefferson City. Good Riddance GGP and I wish the new owners well!

JCLifer 5 months, 1 week ago

GGP is just unloading its junk properties. Capital Mall couldn't make it with GGP. No reason to think anyone else can save it in this economy and this depressed town

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