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| The Upper Valley Mall is official out of business. |
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The end of the road for a Miami Valley shopping mall. The news came on Wednesday.
The Upper Valley Mall in Springfield is officially closed. The mall held its last opening day on Tuesday and the five remaining stores will either relocate or permanently close.
The Upper Valley Mall was built in 1971 by the Edward J. DeBartolo Corporation. At it height it had over four anchor stores and at least 80 stores and vendors.
The mall had suffered huge setbacks. When the Mall at Fairfield Commons and The Greene opened, it siphoned off the mall traffic. The city of Springfield was losing population at a rapid pace.
Now The Clark County Land Reutilization Corporation is officially in charge of the closure and restructuring. Now the group wants a buyer to repurpose the property for commercial and business use.
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| Dayton loses another mall. |
The group purchased the mall in 2018 for $3.5 million with plans to find a developer for the property. A tentative agreement with a private developer was also finalized around that time, but fell through, according to previous reporting from this news organization.
Clark County officials announced last week that the property had been sold to an Ohio developer.
Industrial Commercial Properties (ICP) has agreed to purchase the property for $2.25 million, according to Clark County officials. The developer plans to convert the mall into a business park.
Mall vacancies have went through the roof. Since 2017, malls seen a sharp decline in foot traffic due to internet shopping sites like Amazon.
It's even more bad news. The Washington Prime Group which owns the Dayton Mall and Mall at Fairfield Commons filed for Chapter 11 bankruptcy protection. The company said the malls will continue to operate at normal standings.
But it gives a grave sign of the future of Dayton's once vibrant malls and shopping centers.
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