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Springs’ shopping malls battling vacancy rates

The city’s traditional shopping malls are facing challenges filling retail space. Anchor tenants are leaving, and vacancies are high. Yet mall managers are trying to put a good face on the matter and insist their vacancy problems are only temporary. The city’s two traditional, shopping malls, The Citadel and Chapel Hills malls, won’t offer statistics… Continue Reading Springs’ shopping malls battling vacancy rates

Blake Allen, who owns Allen Realty in Manitou Springs, is unfazed by the The Citadel mall’s woes and is buying the vacant Macy’s building in hopes of staging a retail comeback. Investors and retailers, however, aren’t convinced. He has been in the process of buying the building since March and hopes to close at the… Continue Reading Investor holds on to hope for Macy’s building

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Citadel gets new management co.

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The Citadel mall is under new management. The 1.1 million-square-foot property is still owned by Midwest Mall Properties and is the city’s oldest regional shopping center. Urban Retail is often called upon to reposition and update retail properties. In recent days the mall’s ownership group has struggled to rework financing for $621 million in debt… Continue Reading Citadel gets new management co.

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