Metcalf South Shopping Center will close at 4 p.m. Sept. 19.
However, the adjacent Sears store, which is independently owned and operated, will remain open, as well as The Glenwood Arts Theatre.
Lane4 Property Group said certain covenants previously prevented the mall from closing, even though it was mostly empty and expensive to keep open.
Now those covenants have been lifted and the new ownership group will begin work on the structure that will need to be completed — whether the mall is razed or the existing structure is reused.
“We are currently conducting feasibility studies and talking to potential tenants with the goal of zeroing in on a plan that is realistic and exciting for the community,” says Owen Buckley, president of Lane4, in a statement. “Interest in the property has been very strong and we find ourselves exploring many different possibilities.”
Lane4, along with Columbia-based partner, The Kroenke Group, purchased the 1960’s era Metcalf South Shopping Center at the southeast corner of 95th Street and Metcalf Avenue, along with the recently vacated 95 West Shopping Center (originally known as the French Market), located at the northeast corner of the same intersection, in February.
The purchase totaled 62.11 acres and included the still operating Red Lobster and Olive Garden restaurant properties.
The ownership group has plans to redevelop and reposition both centers. They are on one of the busiest intersections in Overland Park, where 110,000 vehicles pass daily.
Macy’s closed in Metcalf South in March. Topsy’s Popcorn recently relocated across the street to 9530 Metcalf Ave.
By JOYCE SMITH | The Kansas City Star | 09/04/2014
View the original post at the Kansas City Star.