CHESTERFIELD, Mo. - The Chesterfield Mall has a new owner who says they plan to invest the necessary resources to reinvent the property.
Hull Property Group a retail operator based in Augusta, Georgia announced Wednesday the buy of Chesterfield Mall in Chesterfield, Missouri. The 1.3 million square foot enclosed mall adds to the company’s growing portfolio of retail property.
“We believe that it is important for a community to have a vibrant retail corridor and a first-class enclosed mall, but it is clear the Chesterfield Mall is not succeeding in its current state. Due to changing shopping habits and the exodus of retailers, a great amount of time, capital and effort is needed to determine how to reinvent this property into the best use that the Chesterfield community will embrace,” said Jim Hull, Managing Principal of Hull Property Group.
The new owners objective is to determine how to revive a future for the mall and the surrounding area that is financially feasible and supported by the community.