The outlet malls along I-71 near Jeffersonville could not be more different - one a bustling hub of retail activity and the other struggling to find an identity.
But they have more in common than their proximity: Ownership of each changed this summer, and the new owners each say they plan to reinvest in the properties.The former Jeffersonville II/Home Goods center on the west side of I-71 was sold for $1.8 million in June, according to Fayette County auditor's records. The buyer is a partnership that includes the owners of Coughlin Automotive and R&L Carriers, a trucking firm.
The mall, which once hosted Liz Claiborne and Reebok outlets, had faltered as the outlet-mall industry cooled and consolidated after its boom in the 1980s and early 1990s. At that point, it had tried to reinvent itself as a home-goods shopping venue.
In recent years, it has mainly been a flea-market venue, with most vendors open only on weekends. Lucky You, a video-gaming parlor, is one of the few tenants that's open all week.
The mall has been renamed Jeffersonville Crossing. Bill Brown, who's been hired as its general manager, said the new owners are painting and repaving the 2,000-car parking lot at the 325,000-square-foot center, which overall is in "very good condition."
"We're aiming to be the bargain center of Ohio, with a mix of discount stores and a large, upscale flea market," Brown said.
"If people are really looking for a deal, it's not at the outlets anymore. You can't beat a vendor with almost no overhead, like we can offer here."
Brown plans an open house for interested vendors the week of Sept.21, with details offered at the center's website, www.jcohio.com.
The property's decline was partly the result of having an out-of-state "absentee owner," he said. Rudnick Development of Tallahassee, Fla., is the former owner.
Meanwhile, Prime Outlets Jeffersonville, the shopping venue 4 miles to the south, has continued to thrive. It was sold this month by Prime Outlets to Simon Property Group as part of Simon's $2.3billion acquisition of 21 Prime Outlets centers.
Simon is a major mall owner whose properties include the Mall at Tuttle Crossing near Dublin. It also once owned Columbus City Center mall.
Prime Outlets Jeffersonville spokeswoman Kristen Hauer said Simon has retained the center's management staff and plans to continue attracting upscale outlet stores to the mall. Currently, retailers operating there include Pottery Barn, Puma and Coach. She said the mall occupancy rate remains "well above" 90percent.
SOURCE: The Columbus Dispatch
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