Inside Eagle Ridge Mall Lake Wales, FL: Adapting to a New Retail Landscape

Eagle Ridge Mall Development and Opening (1990s)

Eagle Ridge Mall, located in Lake Wales, Florida, opened as part of a broader effort to boost the retail landscape in Polk County. Construction began in 1995, and the mall officially opened its doors in 1996.

The mall was developed by General Growth Properties, a company known for building and managing numerous shopping centers across the United States. Positioned strategically in Central Florida, it was intended to serve not only Lake Wales but also nearby communities like Winter Haven and Haines City.

Upon opening, Eagle Ridge Mall spanned about 625,000 sq ft of retail space. It was designed as an enclosed, one-story shopping center with three anchor tenants: JCPenney, Sears, and Dillard’s.

These major retailers played a key role in attracting foot traffic and smaller retail stores to the mall, helping it become a focal point for the region’s shopping needs.

Some of the early stores included Bath & Body Works, Foot Locker, and Victoria’s Secret, which helped the mall establish itself as a diverse shopping destination.

The food court, a centerpiece of the mall, also became a popular meeting place for shoppers. It offered a variety of fast-food options, including Subway and Sbarro.

The mall also developed as an entertainment center. It included Regal Cinemas, a 12-screen movie theater that still operates today. In addition, Lake Wales Bowling, a complex with bowling, video games, and dining options, has become a popular destination for families.

As with many regional malls, Eagle Ridge catered to a wide range of interests, providing both shopping and activities for visitors looking for things to do in Lake Wales, Florida.

Growth and Challenges (1996-2008)

In the years following its grand opening, Eagle Ridge Mall experienced steady growth, drawing in shoppers from across Central Florida.

However, in 1998, Eagle Ridge Mall faced a major challenge when a large sinkhole appeared in the children’s play area. This sinkhole measured 80 feet across and caused serious concern among shoppers and tenants.

While the mall worked quickly to stabilize and repair the damage, a second sinkhole appeared in the Sears store later that year.

Both incidents led to temporary closures, but by the following year, all affected areas had been fully repaired, allowing the mall to reopen. The events were documented in a 1999 study by the American Society of Civil Engineers.

In 2009, General Growth Properties, the mall’s original owner, filed for Chapter 11 bankruptcy. This marked the largest real estate bankruptcy in U.S. history at the time, impacting hundreds of malls and shopping centers across the country, including Eagle Ridge Mall.

The mall’s ownership changed hands several times over the next few years, with Madison Marquette taking control in 2010 and Tabani Group in 2013. Despite these challenges, Eagle Ridge Mall continued to operate, albeit with declining foot traffic and growing vacancies.

Anchor Stores and Retail Changes (2008-2020)

During the 2010s, Eagle Ridge Mall faced major shifts in its anchor tenants and retail offerings. The first major change occurred in 2016, when Sears, one of the mall’s original anchor stores, closed its store.

In 2020, JCPenney, another key anchor tenant, announced its closure as part of a plan to shutter 154 stores nationwide. The store officially closed its doors in October 2020, marking a major shift for the mall.

With the departure of both Sears and JCPenney, Dillard’s became the sole remaining anchor store, which highlighted the broader trend of department store closures affecting malls nationwide.

Alongside these closures, smaller retail stores within the mall also struggled. Brands such as Payless ShoeSource and Gymboree, which once operated successful stores within Eagle Ridge Mall, filed for bankruptcy and closed their locations in the late 2010s.

The food court, once a lively space filled with a variety of eateries, saw multiple closures.

Latest Developments in Eagle Ridge Mall (2023-2024)

Eagle Ridge Mall, located in Lake Wales, Florida, has seen a significant turnaround over the last few years. Once struggling with vacant storefronts and the loss of major retailers, the mall has been working hard to reposition itself as a hub for small businesses and community activities.

As of 2024, the mall is undergoing a promising transformation under the leadership of General Manager Curtis Gibson, who has been instrumental in attracting new business tenants and making the mall more inviting for shoppers and entrepreneurs alike.

Over the past two years, the Eagle Ridge Mall has welcomed over 20 new stores, bringing the total to about 70 operating businesses, including both small entrepreneurs and large corporate stores.

This growth is remarkable, considering that just a few years ago, the mall had only about 40 businesses operating after losing anchor stores like Sears and JCPenney.

One key driver behind the mall’s revitalization has been its focus on small businesses. The mall offers attractive leasing terms that include covering utilities such as electricity and water, making it much more affordable for small businesses to establish themselves.

Eagle Ridge Mall has positioned itself as a central gathering place for the local community. It hosts business events such as the Business After Hours gathering sponsored by the Lake Wales and Winter Haven Chambers of Commerce.

These events foster a sense of local ownership of the mall and showcase its growing food court and entertainment options.

Despite the encouraging growth of small businesses, the mall still faces challenges. The anchor spaces left vacant by Sears and JCPenney remain unfilled.

However, the management is aggressively marketing these large spaces, capitalizing on the rapid growth of housing developments in the surrounding areas to attract new tenants.

Eagle Ridge Mall has faced several challenges over its history, including a sinkhole that caused significant damage in 1998, hurricanes in 2004, a severe recession in the late 2000s, and the impact of the COVID-19 pandemic.

Despite these setbacks, the mall is making a strong comeback, driven by innovative business strategies and a focus on community involvement.