The 1969 Launch That Changed Cedar Falls Retail
Before College Square Mall had tenants, the site was dirt and gravel off University Avenue—what was then U.S. Route 218.
Construction began in 1968, led by General Management of Cedar Rapids, later known as General Growth Properties.
The company had a clear target: build Iowa’s largest enclosed mall southeast of downtown Cedar Falls.
By the time it opened its doors on November 12, 1969, that goal had already been met.
The property held nearly 600,000 square feet of retail space. No mall in the state was bigger.
That Wednesday morning, the mayors of Cedar Falls and Waterloo met for a ribbon cutting outside the new center.
It was cold, but the turnout was strong, and the lineup inside reflected the scale.
Shoppers moved between Montgomery Ward, Woolco, and Younkers—three major anchors spaced at key corners of the building.
Montgomery Ward’s footprint was the largest of the three.
At 130,000 square feet, it was also the largest store of its kind in Iowa.
Inside, early tenants filled the walkways with bright lights and inventory.
Zales Jewelers and Kinney Shoes were among the first to open.
Woolworth, Maurices, and Jo-Ann Fabrics followed close behind.
Mall-goers could get ice cream at Baskin-Robbins or stop for a burger at Marc’s Big Boy.
Derwood Quade designed the architecture. He designed a single-level structure with enough ceiling height to allow natural light and wide corridors.
The result felt large but easy to move through.
For Cedar Falls, Iowa, it was more than a new shopping location—it added a new point of interest to the local mix of things to do.
Lease Swaps and Anchor Transitions in the ’80s
In 1980, General Growth tried to sell ten malls, including College Square Mall.
But the deal paused when pension fund investors filed a lawsuit against the Bucksbaum brothers.
After settling out of court, College Square Mall was part of a $91 million transaction.
It changed hands to Aetna Life Insurance and The Rouse Company.
Six of the ten malls sold were located in Iowa.
By 1982, Woolco shuttered all its U.S. stores.
The Cedar Falls location closed, along with the rest.
Woolworth Corporation, though, kept running Woolworth and Kinney Shoes on-site.
The empty anchor space didn’t stay vacant long.
Walmart moved in in late 1984. That year also brought new tenants: Casual Corner, Brauns Fashions, and Musicland joined the lineup.
To keep foot traffic steady, management started holding Sunday concerts in the mall’s central court.
They also rolled out a mall-walking program for early hours.
Montgomery Ward closed in late 1985. Younkers quickly took over that anchor spot, gaining an extra 23,500 square feet in the move.
The original Younkers space was then signed over to Petersen Harned Von Maur, which started renovations almost immediately.
The transition had been in talks long before Montgomery Ward exited.
Mall managers had already pitched the concept—Von Maur would join only if the larger space became available.
From 1984 to 1987, College Square Mall went through a $10 million refresh.
It added new signage, fountains, and interior elements like skylights and planters.
After that renovation, the mall became the second-largest employer in Cedar Falls.
New Ownership and Remodels at the Turn of the Century
By 1998, College Square Mall had changed hands again.
This time, Rouse sold the mall to Landau & Heyman of Chicago.
The deal included four other Iowa properties—North Grand Mall, Westland Mall, Muscatine Mall, and Marshalltown Mall—all originally built by General Growth.
Scheels All Sports opened at College Square Mall in 1999.
The chain left its location at Black Hawk Village and replaced a cluster of smaller stores at the mall.
Walgreens, a shoe store, and one mall entrance gave way to make room.
A new entrance was built near the Younkers wing to support the added space.
At that point, Scheels filled a full anchor footprint.
Walmart vacated its spot in 2003. It didn’t disappear from Cedar Falls—it just moved out of the enclosed setup.
The old Walmart space didn’t sit empty long. By late 2005, Hy-Vee had taken over and redesignated it for grocery use.
The timing was tight. In December 2004, GK Development purchased College Square, North Grand, Marshalltown, and Westland from Landau & Heyman.
The combined deal cost $120 million.
By 2006, renovations were underway again. GK Development made basic but essential upgrades—new flooring, brighter lighting, and modernized restrooms.
These weren’t flashy updates, but they helped older properties adapt to changing retail expectations.
The mall kept its core layout but aimed to feel more modern.
Post-Recession Vacancies and Lease Turnover in the 2010s
By the early 2010s, cracks in the tenant base at College Square Mall started to widen.
The aftershocks of the Great Recession played out slowly but clearly.
National chains tightened their real estate footprints.
The mall began to feel those exits. Gap was one of the larger brands to leave.
Other smaller chains either followed or faded quietly from the directory.
The departure of Scheels All Sports in 2013 left one of the largest voids.
That exit pulled foot traffic away from that wing of the building.
But the space didn’t last long. Later that year, Planet Fitness moved in, taking over the former Scheels anchor.
It wasn’t the same retail function, but it kept people walking in and out of the doors on a daily schedule.
Later that year, Namdar Realty Group acquired the property.
Based in Great Neck, New York, Namdar had been buying malls across the country, often those with weakening tenant rosters or lower property valuations.
Their strategy centered on low overhead and limited capital improvement.
From 2013 onward, College Square Mall began to operate under that model.
The 2018 bankruptcy of Bon-Ton Stores, which owned Younkers, closed another anchor.
The Cedar Falls location didn’t reopen under another department store.
At that point, the mall had lost its original 1969 anchors and the mid-cycle replacements that had filled their spots.
More interior suites emptied. The mall directory shrank without announcements.
Anchor Rotations and Shrinking Tenancy in the 2020s
In 2021, Ashley Furniture moved into the former Younkers space.
The furniture retailer redesigned the exterior façade, and its arrival marked the first new anchor since Planet Fitness.
It also restored the use of one of the mall’s largest corners.
The mall’s other major anchors—Von Maur, Hy-Vee, and Planet Fitness—continue to operate in 2025.
The number of small tenants has dropped sharply since the last directory count that claimed “50+” stores.
A 2025 directory map showed about 10 named businesses, mostly related to food or services.
Claire’s remained in retail. Bath & Body Works stayed under personal care.
HuHot Mongolian Grill, Incredible India, and Villa Italian continued food operations in 2025.
New Dawn Hot Yoga, The Salon Professional Academy, and Perfect Ibrowz occupied adjacent suites in the mall.
College Square Theatre permanently closed on May 23, 2024.
As of spring 2025, the theater remains closed, with no operational hours posted online. MET Transit still services the mall, with bus lines stopping at the property’s University Avenue side.
Namdar Realty Group continues to manage the site. Since Ashley Furniture opened, no new updates or investment announcements have been made publicly.
A few storefronts still display signage, but tenant turnover has stalled.
As of spring 2025, the mall holds its footprint but far fewer tenants than any earlier decade.
A Mall Waiting on Movement
The garlands went up before Thanksgiving. Strings of lights draped across the beams, and a plastic Santa leaned beside a tenant directory.
But the echoes inside College Square Mall in late 2024 were louder than the holiday playlist.
Photos made their way online. One Reddit post showed a near-empty wing with holiday lights still blinking.
Another, shared on Flickr, focused on the small details—clean tile floors, dark storefronts, and benches pushed to one side.
No crowds, no lines, no movement in the background.
The images were shared and reshared. Others asked if the mall was even still open.
Local officials didn’t stay quiet. In an interview with the Northern Iowan, Cedar Falls Mayor Danny Laudick put it plainly:
“It’s really hard for us as a community to do much with it when the people that own it don’t want to do much with it.”
That November, a comic and Pokémon card show was set up inside the mall.
Tables lined one of the open corridors—binders flipped open, cardboard boxes stacked by folding chairs.
For a few hours, the space felt active again. But the event ended, and the traffic faded. No new leases followed.
However, even with fewer stores open, College Square Mall doesn’t look forgotten.
Photos show decorations hung with care—garlands along the railing and clean benches tucked beside storefronts.
The central fountain still runs. The tiles look scrubbed, not scuffed. There’s no peeling paint, no flickering bulbs.
It feels quiet, not abandoned. Maintenance hasn’t let up, even if traffic has.
Shoppers are few, but the space is ready—like it’s still waiting for the next thing to happen.
