The property, a once dominant 1 million square foot regional mall, was anchored by four department stores including Sears, Macy’s, JCPenney Outlet and Dillard’s. The property was acquired in May 2003, from Richard E. Jacobs Companies. At the time of its acquisition, due to lack of proper marketing and management, the property’s vacancy rate was more than 30%. The redevelopment plan included an aggressive leasing and marketing program to fill in the existing merchandising gap. However due to national and regional retailing trends and macroeconomic headwinds of 2008 and despite significant support from St. Louis County, the redevelopment plan stalled and ultimately abandoned. Ownership made the strategic decision to divest the mall in September 2009. Currently, 60 acres of developable land and a 200,000 square foot anchor retail building remain in the portfolio and were not included in the sale.