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Industry News

Mall swaps Sears anchor for entertainment complex

Brookfield (Wis.) Square Mall will lose its Sears store this year. But landlord CBL Properties says the mall will gain a collection of more-exciting, profitable tenants.

The company plans to redevelop the store into an eight-screen Marcus BistroPlex cinema, a WhirlyBall facility and several restaurants. CBL bought the mall's Sears store last year, along with a detached and defunct Sears Auto Center nearby. “CBL made it clear from the beginning that this was going to be an entertainment development going forward,” Brookfield Mayor Steven V. Ponto​ told The Freeman. “Because of online shopping and shopping changes in general, malls feel like they need to offer entertainment.”

CBL has sold the Sears Auto Center to the city, which intends to replace it with a conference center and hotel.

In the meantime, Sears will continue operating an 18,000-square-foot store for appliances and mattresses.

By Brannon Boswell

Managing Editor/SCT

Related Topics:

  • malls
  • reits

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