Macy’s at Oak Court sells for $7M
A group of investors led by Poag Development Group purchased the East Memphis mall anchor and will lease the 400,000-square-foot space back to Macy’s.
There are 14 article(s) tagged Oak Court Mall:
A group of investors led by Poag Development Group purchased the East Memphis mall anchor and will lease the 400,000-square-foot space back to Macy’s.
Macy’s plans to lay off both retail and corporate employees.
Poag Development Group is buying Oak Court Mall for an undisclosed price in a deal that is expected close by mid-December.
The solutions require either a lot of money or creativity. Risk extends to both.
This column was prompted by the sale of Oak Court on the courthouse steps, and by last week’s announcement of the pandas leaving Memphis. But this isn’t about loss. This is about redemption. This is about celebration.
Oak Court, in its day, was a pinnacle of shopping and retail lore. It was also the first project that developers Jack Belz and Henry Turley did together.
Locals talk getting their first job at the Oak Court Mall and Kaari Morant’s griddy on Twitter this week.
On Tuesday, Dec. 6, a foreclosure notice announced the pending sale of the 850,000-square-foot mall.
“We want everybody to have a great holiday. We want them to have a great shopping experience. And we want our businesses to thrive. We want to see Memphis thrive.”
Oak Court Mall houses about 70 retailers including anchors Macy’s, Dillards and H&M.
The state reports the total number of confirmed cases in Tennessee is 73, and a third Shelby County case has also been reported. That individual is isolated at home and did not contract it in Shelby County.
The company did not list all 125 locations that will close, but 30 are already in the process of being shuttered including one in Goodlettsville, Tennessee.
Oak Court Mall may receive a code citation for cutting down about 10 large trees along Poplar Avenue so motorists can see its new, larger sign.
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