Leesburg, FL: Lake Square Mall’s Transformation and Challenges

Lake Square Mall’s Early Years and Opening

Lake Square Mall opened on September 24, 1980, in Leesburg, Florida, and was developed by General Growth Properties. The mall’s original anchor stores were Belk Lindsey, J.C. Penney, and Sears. At its opening, the mall featured over 50 stores. Its single-story layout made it accessible and easy to navigate for shoppers. A food court and multiple dining options enhanced its appeal.

General Growth Properties heavily marketed the mall, emphasizing its modern design and variety of retail options. The opening day saw a significant turnout, setting the stage for Lake Square Mall’s role as a central shopping destination in the region.

The mall was the first large shopping center in the area, catering to the local community and tourists looking for things to do in Leesburg, FL. The initial development aimed to attract various retail tenants to provide a comprehensive shopping experience.

Expansion and Growth

In 1989, developers proposed expanding Lake Square Mall to include a Target store. This move aimed to increase foot traffic and attract more shoppers. By March 1992, Target opened its doors, adding a new dynamic to the mall’s retail offerings.

AMC Theatres played a crucial role in the mall’s growth. In 1995, the theater expanded from six screens to twelve. This expansion drew more visitors, especially for weekend outings and special movie events.

Belk also experienced growth during this period. In 1995, it expanded its store into an adjacent space that Rite Aid previously occupied.

This expansion allowed Belk to offer a broader range of products and improved the shopping experience. The mall continued to evolve with these expansions, and new stores opened, providing a variety of shopping options.

The addition of Target and the expansion of AMC helped Lake Square Mall become a more popular destination for locals and visitors in Leesburg, Florida.

Ownership Changes and Decline

Simon Property Group and Macerich purchased Lake Square Mall in 1997. This change brought new management strategies aimed at revitalizing the mall. During their ownership, Books-A-Million joined the lineup, adding a popular bookstore to the mix.

However, the mall faced challenges. In 2011, PetSmart opened, but some key stores began to close. Target announced its closure in November 2013, marking a turning point. The store officially closed on February 1, 2014.

In March 2014, Kohan Retail Investment Group acquired the mall. This acquisition aimed to revitalize the space, but challenges persisted. JCPenney also closed its doors in May 2014, which impacted the mall’s retail landscape.

The ownership changes and store closures marked a period of decline for Lake Square Mall. Despite efforts to attract new tenants and revitalize the space, the loss of major anchors like Target and JCPenney had a lasting impact.

Rebranding and Renovations

In September 2014, Via Properties from Istanbul, Turkey, bought Lake Square Mall. They rebranded it as ViaPort Florida, aiming to give the mall a fresh start. The new owners invested in renovations, hoping to attract more visitors and tenants.

In 2017, Exclusive Management and Properties, Inc. acquired the mall and decided to change its name to Lake Square Mall. This change reflected a return to the mall’s roots and aimed to reconnect with the local community.

The new management focused on reducing the vacancy rate. They worked on improving the mall’s facade and interior to create a more inviting atmosphere. These efforts included updating the lighting, signage, and overall aesthetics.

Belk and Via Entertainment became the main anchor stores during this period. Via Entertainment, an indoor amusement center, offered a variety of attractions, drawing families and groups looking for fun. This addition diversified the mall’s offerings beyond traditional retail.

In August 2019, Sears announced it would close its Lake Square Mall location. The store closed in mid-December 2019, marking another major change for the mall. This closure was part of a larger plan affecting many Sears stores nationwide.

Latest Developments and Challenges in 2023-2024

In 2023, the mall partnered with Cruisin’ Couples Car Club, aiming to attract visitors through events.

This partnership brought regular car shows to the mall, adding a unique attraction for car enthusiasts and families. However, these events have not fully offset the overall decline in foot traffic.

The closure of OMG Coffee Excellence in late 2023 highlighted the mall’s struggle to retain popular tenants. This coffee shop had been a favorite among shoppers, and its departure marked another loss for the mall’s community appeal.

Additionally, reports of a burglary involving a homeless woman in April 2024 raised concerns about security and the mall’s overall environment.

Several new local businesses opened their doors in 2023-2024, signaling some growth. These additions included a mix of retail shops and service-oriented businesses, attempting to fill the gaps left by larger chain stores that had closed in previous years.

Efforts to repurpose the old Sears building have been slow. Since Sears’ closure, plans to redevelop the space have faced delays, contributing to the mall’s struggle to attract significant new tenants. The lack of progress on this front has been a notable issue for the mall’s management.

Despite these challenges, Lake Square Mall continues to host events to engage the community. In July 2024, the mall held its “Summer Sizzle” event, featuring various activities aimed at drawing in local families.

These events provide boosts in visitor numbers, but long-term solutions are needed to ensure the mall’s viability.

Lake Square Mall’s journey through 2023 and 2024 illustrates the complexities of maintaining a struggling retail space.

The mix of new business openings, tenant departures, and community events highlights the mall’s management’s efforts and difficulties.