If discussions on social media are any gauge, Lewisville Texans have their ideas on what needs to happen with the Vista Ridge Mall in Lewisville. If you can get your hands on $4.5 million and some change, you might be able to own it and give your ideas a try.

The mall goes on the auction block Aug. 21 through 23 Sept. 25-27 through online real estate auction firm Ten-X Commercial.

In April, 2016, the mall’s owner Rouse Properties, Inc. missed the $64.6 million balloon payment due to its bank, resulting in the mall going into receivership.  It wasn’t the mall’s first time in trouble — its previous owner went bankrupt in 2009.

Ten-X requires a $50,000 participation deposit to register for the auction.  The opening bid is $4.5 million, but it’s likely to go for much more.  The 724,381 square foot mall on 45 acres is valued on the property tax roll at $34.4 million.  The land alone is worth $13.8 million, according to the Denton Central Appraisal District.

The mall includes 438,707 square feet of leasable space, not including its four anchor department stores.  Macy’s, Sears, JCPenney and Dillard’s each own their buildings and associated parking lot areas.  The Cinemark theater building is part of the mall property.

Ten-X touts the mall’s $2.1 million net operating income on $8.3 million revenue as healthy and able to fund the mall’s efforts to lease out the remaining vacant spaces.  According to square footage numbers provided by Ten-X, the mall is currently 78 percent 68.8 percent leased.  

The mall and other brick-and-mortar retailers have suffered in recent years due to online sales.  In a June meeting, the Lewisville City Council was informed that the sales tax revenues generated by all of the retailers in Vista Ridge Mall are now being surpassed by Bed Bath & Beyond’s online sales from their e-commerce facility in Lewisville.  The retailer’s sales taxes brought in about $700,000 in the first few months of the year.

The future may hold challenges for an investor, given that three of the mall’s four anchors have had their parent companies announce store closures in the past year.  Sears, JCPenney, and Macy’s have all announced closures, but Vista Ridge has been spared so far.


Updated 8/2 with more recent auction dates and occupancy percentage from Ten-X.

5 COMMENTS

  1. 78 % leased? Really. Have you actually been there lately? You can tell how many past tenants personalized their space in their corporate image but are now gone. There are alot of gaping vacancies and when you consider the proximity of Grapevine Mills, Willow bend, Stone Briar and Southlake Town Square, there is absolutely no draw here. I expect this will.be razed for redevelopment sooner than later…

  2. Make it into an abandoned paint ball arena type deal. Plenty of kids around. You could Build make multiple senerios from each section of the mall. Plenty of teens and colleges around to keep it in business. I’ve always wanted to have something like this.

  3. Turn the mall into a community with condo’s, food court and a movie theater. Open a small grocery store and you’d never have to leave except to work.

  4. Was there this past week and saw that even Yankee Candle is gone, and the Nestle cart at center court is now empty. 78% occupancy is stretching it. The anchors will close and this mall will be razed as there is little that even $50M in redevelopment dollars could do to keep the mall going. GGP did a huge disservice before it went bankrupt by selling off all the out parcels which are very successful. It also doesn’t help that the mall is below grade and almost impossible to see. Lastly, the comments about Grapevine Mills and Stonebriar are on the money. A mixed use community could be possible, or possibly office towers as there is very little of that in Lewisville, and this area desperately needs some daytime consumers to support the local businesses. It’s also a shame that Lewisville didn’t offer to buy the mall previously, in time to put the Cowboys Stadium, or new Ranger’s ballpark here as either would have been an enormous win for Lewisville and the area, not counting the ridiculous traffic that would create. Bottom line is that Lewisville should buy this property and take control of their future.

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