The City of Moline announced this afternoon SouthPark Mall has been sold but did not name the new owners.
On its website, Moline said it has been informed that Macerich, the real estate investment trust that had owned SouthPark Mall since 2012, officially sold the property today, April 30.
The city acknowledged the significant interest that the property holds for residents.
In a brief statement, Moline Mayor Sangeetha Rayapati said “City of Moline Economic Development staff have been working diligently with prospective developers and businesses to bring the mall area back to life. We look forward to getting to know the new owners and working together to transform this important business district.”
The struggling mall, at 4500 16th St., has been a focus point for city leaders for years.
Macerich, a leading owner, operator and developer of top retail and mixed-use destinations in major U.S. markets, also owns NorthPark Mall in Davenport.
The 850,000-square-foot SouthPark Mall in recent years has been anchored by Dick’s Sporting Goods, Dillard’s, JCPenney and Von Maur, with retail and restaurant stores including Ashley Furniture, Shoe Dept. Encore, Habanero’s Mexican Grill and Cantina, and Olive Garden.
SouthPark, like many malls across the nation, has faced some tough times as longtime businesses have departed. For instance, Chick-fil-A, a SouthPark tenant for almost 40 years, closed its mall location in February 2022 on the heels of Victoria’s Secret closing its SouthPark location. SouthPark also lost one of its anchor stores, Younker’s, when the store chain closed down Aug. 29, 2018.
Over the years, Moline has worked diligently to bring new retailers and investment to the regional mall. In 2013, the city created a Tax Increment Financing (TIF) district there as part of the then SouthPark Mall Revitalization Project to help developers recoup some of the costs of renovating the property. That led to the demolition of 250,000 square feet of the original mall and a major renovation of the remaining building in 2014 and 2015. But in November 2023, the City of Moline dissolved its TIF.
In June of 2022, Macerich rolled out an incentive plan offering retailers six months of free rent if they signed a three-year lease in an attempt to help promote and expand local businesses there.
In its release today, April 30, the city said it remains committed to supporting thoughtful growth and revitalization throughout Moline.
