Westgate Mall (Brockton)
Encyclopedia
Westgate Mall is a shopping mall
in the city of Brockton, Massachusetts
. It is the oldest enclosed shopping mall in the state. Although Westgate Mall's GLA
is small by regional standards, it is also surrounded by numerous adjacent big-box stores including: Wal-Mart
, Lowe's
, Toys "R" Us, Dick's Sporting Goods
, A.C. Moore, and AJWright. These standalone retailers complement the main building, driving increased traffic to the location as a shopping destination.
and Silver City Galleria
, dominated the market in the past 15 years, but the Westgate Mall today has repositioned itself as a smaller, more convenient alternative and as a result, business has improved.
Ownership of the mall has changed hands several times over the past decade. The mall was purchased by New England Development for $17 million in 1999, with plans to revitalize the vintage mall. Over several years, the new owners spent significant resources to remodel it, and were very successful in turning the mall around. In 2004, New England Development sold Westgate to Gregory Greenfield & Assoc. (GG&A) for $58.5 million; three years later, GG&A was taken over by Australia-based Babcock & Brown. In 2009, Bank of America
foreclosed
the mall due to "breach of conditions" on its mortgage
with Babcock & Brown, and the property went on the auction block
. Finally, in 2010, New England Development again purchased the property for $31.75 million, and as of 2011 remain Westgate Malls current owner.
Child World
( closed in 1992, now Marshalls)
Filene's
( opened in 2003, converted to Macy's in 2006)
Gilchrist's/Jordan Marsh
(73,000 sq ft.) ( Gilchrist's opened in 1963, closed in 1975. Jordan Marsh opened 1977. Converted to Macy's in 1996, closed 2006 as Macy's moved to former Filene's. Store razed,')
Shopping mall
A shopping mall, shopping centre, shopping arcade, shopping precinct or simply mall is one or more buildings forming a complex of shops representing merchandisers, with interconnecting walkways enabling visitors to easily walk from unit to unit, along with a parking area — a modern, indoor version...
in the city of Brockton, Massachusetts
Brockton, Massachusetts
Brockton is a city in Plymouth County, Massachusetts, United States; the population was 93,810 in the 2010 Census. Brockton, along with Plymouth, are the county seats of Plymouth County...
. It is the oldest enclosed shopping mall in the state. Although Westgate Mall's GLA
Gross leasable area
Gross leasable area in the retail development industry is a term applied to shopping malls, lifestyle centers, outlet malls and other retail centers to indicate the amount of floor space available to be rented...
is small by regional standards, it is also surrounded by numerous adjacent big-box stores including: Wal-Mart
Wal-Mart
Wal-Mart Stores, Inc. , branded as Walmart since 2008 and Wal-Mart before then, is an American public multinational corporation that runs chains of large discount department stores and warehouse stores. The company is the world's 18th largest public corporation, according to the Forbes Global 2000...
, Lowe's
Lowe's
Lowe's Companies, Inc. is a U.S.-based chain of retail home improvement and appliance stores. Founded in 1946 in North Wilkesboro, North Carolina, the chain now serves more than 14 million customers a week in its 1,710 stores in the United States and 20 in Canada. Expansion into Canada began in...
, Toys "R" Us, Dick's Sporting Goods
Dick's Sporting Goods
Dick's Sporting Goods, Inc. , or Dick's, is a Fortune 500 American corporation in the sporting goods and retail industries.The company's headquarters are on the grounds of Pittsburgh International Airport in Findlay Township near Pittsburgh, Pennsylvania. Dick's has 451 stores in 42 states as of...
, A.C. Moore, and AJWright. These standalone retailers complement the main building, driving increased traffic to the location as a shopping destination.
History
The 600000 square feet (55,741.8 m²) mall opened in 1963 and was substantially renovated in 2000, reversing a trend of nearly a decade of decline wherein nearly all of the stores had vacated the center. Nearby malls, including South Shore PlazaSouth Shore Plaza
South Shore Plaza is an enclosed shopping mall located in Braintree, Massachusetts, United States. It is anchored by Lord & Taylor, Macy's, Sears, Nordstrom, and Target. The mall currently has of retail and dining space, including a large food court....
and Silver City Galleria
Silver City Galleria
The Silver City Galleria is an enclosed, two-level, super-regional mall located off Route 24 and Route 140 in East Taunton, Massachusetts. It covers a leasable area of over 1 million sq ft, and serves multiple cities in the region including: Taunton, Brockton, New Bedford, and Fall River.The mall's...
, dominated the market in the past 15 years, but the Westgate Mall today has repositioned itself as a smaller, more convenient alternative and as a result, business has improved.
Ownership of the mall has changed hands several times over the past decade. The mall was purchased by New England Development for $17 million in 1999, with plans to revitalize the vintage mall. Over several years, the new owners spent significant resources to remodel it, and were very successful in turning the mall around. In 2004, New England Development sold Westgate to Gregory Greenfield & Assoc. (GG&A) for $58.5 million; three years later, GG&A was taken over by Australia-based Babcock & Brown. In 2009, Bank of America
Bank of America
Bank of America Corporation, an American multinational banking and financial services corporation, is the second largest bank holding company in the United States by assets, and the fourth largest bank in the U.S. by market capitalization. The bank is headquartered in Charlotte, North Carolina...
foreclosed
Foreclosure
Foreclosure is the legal process by which a mortgage lender , or other lien holder, obtains a termination of a mortgage borrower 's equitable right of redemption, either by court order or by operation of law...
the mall due to "breach of conditions" on its mortgage
Mortgage loan
A mortgage loan is a loan secured by real property through the use of a mortgage note which evidences the existence of the loan and the encumbrance of that realty through the granting of a mortgage which secures the loan...
with Babcock & Brown, and the property went on the auction block
Auction
An auction is a process of buying and selling goods or services by offering them up for bid, taking bids, and then selling the item to the highest bidder...
. Finally, in 2010, New England Development again purchased the property for $31.75 million, and as of 2011 remain Westgate Malls current owner.
Anchors
- Best BuyBest BuyBest Buy Co., Inc. is an American specialty retailer of consumer electronics in the United States, accounting for 19% of the market. It also operates in Mexico, Canada & China. The company's subsidiaries include Geek Squad, CinemaNow, Magnolia Audio Video, Pacific Sales, and, in Canada operates...
(30,012 sq ft.) - Macy'sMacy'sMacy's is a U.S. chain of mid-to-high range department stores. In addition to its flagship Herald Square location in New York City, the company operates over 800 stores in the United States...
(140,000 sq ft.) - MarshallsMarshallsMarshalls, Inc., is a chain of American department stores owned by TJX Companies. Marshalls has over 750 conventional stores, as well as larger stores named Marshalls Mega Store, covering 42 states and Puerto Rico. Marshalls expanded into Canada in March 2011...
(28,000 sq ft.) - Old NavyOld NavyOld Navy is an American clothing brand as well as a chain of stores owned by Gap, Inc., with corporate operations in San Francisco and San Bruno, California. It is one of the first major corporations to house headquarters in the new Mission Bay district of San Francisco.Gap, Inc. was run by...
(22,625 sq ft.) - Sears (126,806 sq ft.)
Former anchors
- BradleesBradleesBradlees was a chain of discount department stores which operated primarily in the Northeastern United States. The chain went bankrupt in 2000 and all of its stores were closed by March 2001.-History:...
(112,000 sq ft.) (
Child World
Child World was an American chain of toy stores that was founded in Avon, Massachusetts in 1970. Child World once boasted 182 stores and revenues of approximately $830 million annually...
(
Filene's
Filene's was a Boston-based department store owned by Federated Department Stores , and May Department Stores . It operated throughout New England and in New York.-Early years:...
(
Jordan Marsh
Jordan Marsh & Company was a department store in Boston, Massachusetts, which grew to be a major regional chain in the New England area of the United States. In 1996, the last of the Jordan Marsh stores were converted to Macy's. The store was formerly part of Allied Stores and then Federated...
(73,000 sq ft.) (