A slow economic recovery, competition from online retailers and the opening of two new outlets in the St. Louis area have all posed challenges for the St. Louis Outlet Mall, but tenants don’t believe the mall is dying.
The Hazelwood facility, originally opened in 2003 and formerly known as St. Louis Mills, was 84 percent leased at the end of June. That compares to an occupancy rate of 92 percent at malls in many markets.
The mall changed hands in August 2012 after Simon Property Group, its former owner, defaulted on a $90 million loan from. The lender took ownership of the mall, and the Woodmont Co. came on board to manage the property. Now, Hazewlood city officials believe that the lender is preparing to sell the property.