Copyright 2022 Scripps Media, Inc. All rights reserved. The 54-acre property, which opened in 1989 off U.S. 41 and Murdock Circle in Port Charlotte, has now been purchased by PC Mall LLC, which is a group of bondholders. Because the citys aging population and low unemployment rate make them more likely to grow, these sectors may be able to do so. Consider These Factors, Bayside Mall: A Popular Shopping Destination In Toronto, The Pros And Cons Of Teen Curfews In Shopping Malls, The Americana At Brand A Luxury Shopping Mall In Los Angeles To Close Its Doors, The Importance Of The Quinceanera Dress And Mass, As Electric Cars Become More Popular Free Charging Stations Are Popping Up Across The Country, The Fashion District: A New Shopping Mall In Philadelphia. Firefighters are battling several brush fires in Charlotte County; the one off McCall Road threatens several buildings, including a church. The mall was originally built in the early 1980s and was a major destination for shopping and entertainment in the area. The owners of the $44.8 million bankruptcy note submitted the winning bid of $100,000, as well as the second highest bid of $140,000. Instead of the debt, they now own the property., The mall will continue operating as usual. The mall went to an auction as part of the foreclosure sale Monday and sold to the bond owners in exchange for wiping out existing debt. Port Charlotte Mall, Port Charlotte: See 17 reviews, articles, and 2 photos of Port Charlotte Mall, ranked No.6 on Tripadvisor among 15 attractions in Port Charlotte. The other side is near Fawcett Memorial Hospital and ShorePoint Health Port Charlotte. Homes similar to 2707 Auburn Blvd are listed between $125K to $999K at an average of $240 per square foot. From there, he went to Ketchikan, Alaska, where he sold gold jewelry to tourists, mainly cruise trip passengers, before returning to the Town Center mall in October. Designed by Elegant Themes | Powered by WordPress, The Unsettling Reality Of Fitting Room Cameras In Malls, The Daraz Mall: A Popular Shopping Destination In The Heart Of The City, Different Ways To Get To Ontario Mills Mall, Yorkdale Shopping Centre: Torontos Premier Retail Destination, Is Your Shop In A Mall Profitable? The traffic has been so slow in there over the years, Joan Clements said. Throughout the Chapter 11 process, we expect business as usual at our town centers, where our tenants, sponsors and employees will continue operating as normal, with a focus on providing enjoyable experiences for our guests., Lou Conforti, CEO and director of Washington Prime Group, said in a separate statement, The companys financial restructuring will enable WPG to right-size its balance sheet and position the company for success going forward., The company, he added, expects operations to continue in the ordinary course for the benefit of our guests, tenants, vendors, stakeholders and colleagues.. Owner Financing is available with no credit check! The mall was a major employer in the area, and its closure will lead to the loss of hundreds of jobs. One reason is that the city is not as developed as other parts of the state. The future of Port Charlotte Mall is unclear. Charlotte is a great place to call home if you want to live in a city with a low cost of living and good job opportunities. If there are no objections over the next 10 days, the lender will take ownership of the mall. This is where I go; I dont want to drive to Fort Myers.. Rich Malpedo, whove lived in Port Charlotte for 41 years, said he was at the malls grand opening in 1989. Notifications from this discussion will be disabled. Among her favorite stores, she said, were JCPenney, Dillards and Turquaz. Visit website. Copyright 2023 Waterman Broadcasting of Florida, LLC, Home News Local Port Charlotte Town Center sells at foreclosure auction. Ft. 2387 Lake View Blvd, PORT CHARLOTTE, FL 33948. Whether youre looking for a quick bite or a sit-down meal, youre sure to find something to your liking at the Port Charlotte Mall. Sharma wasnt the only person thinking the mall was dingy., Shopper Rich Malpedo, a Vietnam veteran and Port Charlotte resident, said, They never kept it up. He said there are a number of vacant store spaces, and said, Subway just left the mall., Malpedo, who has lived in Port Charlotte for 41 years, said, I was at the grand opening., Malpedo said he didnt want to drive further and said he hoped the mall wouldnt close. An email message containing instructions on how to reset your password has been sent to the e-mail address listed on your account. Things to do near Port Charlotte Beach Park Things to do near Port Charlotte Mall. A multifamily apartment complex connected with retail, medical and offices sounded like a good plan for whats next, Gammon said. This material may not be published, broadcast, rewritten, or redistributed. A portion of the former Sears mall was used as a location for the PBS Kids Talk About show in 2020. It will operate as usual at the mall. In 2012, the Port Charlotte Town Center was purchased by Simon Property Group, one of the largest shopping mall operators in the United States. Ft. 4075 Rock Creek Dr, PORT CHARLOTTE, FL 33948. WINK News has reached out to local experts and law enforcement to find out [], Starbucks is changing its rewards program, requiring you to accrue more points before you qualify for free items, and Southwest Florida customers arent pleased. Apparently, the mall is a big part of local residents lives. Changing retail trends because of online shopping behemoths like Amazon have disrupted malls across the country. The firm claimed that COVID-19 created significant challenges and that the move is necessary.. The bondholders will likely start a new marketing process with real estate agents to market this property.. Your purchase was successful, and you are now logged in. Burdines replaced Belk-Lindsey as the malls tenant. PORT CHARLOTTE Changes are coming to the popular Promenades at Parkside shopping center to attract a younger crowd. Don't knowingly lie about anyone A fish kill is filling up the water in Southwest Florida. As a result of a lower-paying hospitality industry, tourism, health care, and fishing industries, the citys household income is likely to be lower. Apple did not immediately respond to Insider's request for comment. The COVID-19 pandemic has created significant challenges for many consumer-facing companies, including Washington Prime Group. Is the Port Charlotte mall's owner about to file for bankruptcy? Drop on by today to see what's new. A variety of gourmet salads, pastas, and other foods are available at Connors Steak andamp; Seafood, which offers fresh seafood and premium aged steaks. The Port Charlotte Town Center is a mall in Port Charlotte, Florida. Bond holders owe $44.8 million to the bankrupt Port Charlotte Town Center mall now own the vast majority of the facility after raising their winning bid of $100,100. that is degrading to another person. Home News Local Owner of Edison Mall & Port Charlotte Town Center files for bankruptcy. Some three-dozen stores, including Sears and the Ruby Tuesday restaurant are empty, and Macys will vacate the mall in April. Dont miss out on great deals every day, such as free shipping, exclusive rebates, and incredible deals. Sharma called the mall dingy and said the management should have held onto people here, referring to giving business owners a break on rent when business slowed during the pandemic. The mall and its stores will continue as is for now. There are many stores that are open in port charlotte. The site could easily accommodate all of that.. The city has a boardwalk that is popular with tourists, including a fishing pier, boat ramp, canoe/ kayak launch, horseshoe pits, bocce courts, basketball courts, tennis courts, volleyball courts, playground areas, and small shelters with picnic tables, as well as two large pavilions, restrooms. Port Charlotte is a small town located on the Gulf Coast of Florida. When Bloomberg first reported WPG was preparing a potential bankruptcy filing to avert a default after it skipped an interest payment, stock prices tumbled by more than half. 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Whether you are looking for a new outfit or just some new home decor, you will be able to find it all in Port Charlotte. "It's a shame because we really don't have any malls close by. Yellow means low concentrations, orange is medium, and red is high. If the proposal is approved, the mall may be jeopardized. Port Charlotte, FL 33980 Get Directions (941) 629-6482 Cocoplum Village Shops #537 Closed until tomorrow at 9am ET 7.7 mi 18529 Tamiami Trl North Port, FL 34287 Get Directions (941) 426-8762 Englewood Square Shop Ctr #172 Closed until tomorrow at 9am ET 15.7 mi 425 S Indiana Ave Englewood, FL 34223 Get Directions (941) 473-1246 A statement reads: "In preparation for a new store we plan to open in the Charlotte area early next year, we will be permanently closing Wednesday, March 1st at 4pm.". The Port Charlotte Town Center is set to close its doors for good. Business at the Port Charlotte Town Center mall has been slammed by both the pandemic and shoppers preferring to purchase their items online. Points of . The decision to close the mall was made by its owner, Simon Property Group, after a careful review of the property. This is more an adult mall . But some people are wondering: how quickly will it happen? The mall has been struggling in recent years, with many of its stores closing down. $20 Hourly. Vernon: 500 East Sandford Blvd. Construction was done in two phases. 42 years in business Locally owned & operated The closure of the Port Charlotte Town Center will have a significant impact on the local community. Located in Port Charlott See more A fully enclosed shopping destination, Port Charlotte Town Center is the perfect place to stop on warm or rainy Florida days. The Port Charlotte Town Center is set to close its doors for good. Its mixed-use, vertical mixed-use, it could be residential, it could be office, it could be walkable retail, it could accommodate the existing uses already in the mall and make it into something maybe a little more spectacular, Gammon said. $699,000 Last Sold Price. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". Shopping Malls. Check out our Physician needs in the neighboring town of Punta Gorda! on video games, collectibles & more. Each downtown has its own page in the directory, where merchants can offer discounts. Gammon commented itll be a long while before any major changes are made because of existing long-term leases at places like JCPenney and Regal movie theater, plus Dillards and Bealls arent going anywhere. Get directions. There are also a number of stores that sell clothing, shoes, and accessories. Employees were informed today, per Bloomberg @wsoctv pic.twitter.com/cxscbbTCzz, Joe Bruno (@JoeBrunoWSOC9) March 2, 2023. The original company owning the mall was WP Glimcher, later renamed Washington Prime Group founded in 2014. When your e-Edition is ready to be read, we send you a reminderemaileach day letting you know. We intend to continue business as usual at Washington Prime Groups properties, where our tenants, sponsors and employees will continue operating as normal, with a focus on providing safe and enjoyable experiences for our guests.. This mall is located on 54 acres, just outside of Charlotte, North Carolina. There are a few reasons why Port Charlotte is cheaper than other places in Florida. It has over 150 stores and restaurants, as well as a movie theater. She has had more one-on-one time with her neighbors over the last few days than she did previously. Owners of the $44.8 million bankruptcy note submitted the winning and only bid of $100,000. An Apple store in Charlotte, North Carolina saw its doors closed permanently on Wednesday, following three nearby shootings in three months, Bloomberg reported. Port Charlotte Mall was hit by Hurricane Ian on September 10, 2004. I come here fairly often, said North Port resident Dominik Smith. Keep it Clean. A lot of the malls are struggling right now.. On December 28, 2018, it was announced that Sears would be closing as part of a plan to close 80 stores nationwide. The humidity is also relatively low, making for comfortable conditions year-round. The auction of the Port Charlotte Town Center on Monday didnt change much. If Costco moved into the mall Id be a happy camper, Pat Bryant said as she headed inside to shop.