Fayette Mall is a regional shopping center in Lexington, Kentucky, located at 3401 Nicholasville Road. It opened in 1971 with three department store anchors and more than 800,000 square feet of retail space, quickly establishing itself as a primary retail hub for the city’s south side.
A 1993 expansion made it the largest enclosed mall in the state, and ownership shifted to CBL and Associates Properties in 2001.
Subsequent projects in 2005 and 2014 added new anchors, dining, and fashion tenants while reconfiguring former department store space.
In 2024, over 47,000 square feet of retail were added, and in 2025, the property’s loan was extended.
Today, Fayette Mall remains under active management, with stable ownership, steady leasing activity, and ongoing investment shaping its tenant mix and layout.
Site, plan, and opening year: 1969 to 1971
Construction on Fayette Mall began after developers targeted the Nicholasville Road corridor, which was drawing new housing and retail south of downtown Lexington.
Plans called for a single-level enclosed center with three department store anchors at opposite ends.
Sears opened on September 15, 1971, the first store in operation, followed by Shillito’s on October 11.
Stewart Dry Goods completed the trio later that year. The mall’s footprint covered about 800,000 square feet when it debuted.
Interior photographs from 1971 show skylit walkways, tiled concourses, and landscaped planters.
Early tenants filled inline spaces between the anchors, and parking fields surrounded the structure.
A formal dedication took place in October, with local coverage noting its role as the largest enclosed retail space in the region at the time.
By year’s end, shoppers were visiting both national brands and locally run stores.
The location on U.S. 27 allowed easy access from surrounding counties, and the mall quickly became a central retail stop for the south side of Lexington.
Its initial layout would remain largely unchanged for more than two decades, with the anchor arrangement and enclosed format establishing the pattern for future growth.
The 1970s to mid-1980s: consolidation of anchors
Through the 1970s, Fayette Mall maintained its original three-anchor plan.
Department store mergers in the 1980s brought changes to anchor names without altering their footprints.
Stewart Dry Goods merged into L. S. Ayres on November 1, 1985.
Within two years, the location shifted through Snyder’s in mid-1987 and then to Hess’s the next year.
Shillito’s also saw corporate transitions, becoming Shillito-Rike’s and then Lazarus as parent companies rebranded.
These changes reflected broader consolidation trends in national retail during that period.
The Sears store at the opposite end retained its identity and format.
The mall’s role as a regional center remained steady, supported by its location on a growing commercial corridor.
Parking lots stayed full during peak shopping seasons, and store directories kept familiar anchor names updated as changes occurred.
Press coverage in the mid-1980s described the property as a strong performer in the state’s retail market.
No major expansions took place during this time, and the enclosed single-level design continued to define the shopping experience.
The focus remained on maintaining occupancy.
1993 expansion and the McAlpin’s era
In 1993, Fayette Mall added a major south wing that increased its overall size and store count, making it the largest enclosed mall in Kentucky.
The project introduced McAlpin’s as a new anchor. This store later transitioned to Dillard’s in 1998 as part of a corporate acquisition.
The expansion brought additional inline spaces and reconfigured traffic patterns, giving shoppers a longer enclosed concourse and more direct access between anchors.
Press coverage from the time noted the competitive effect on Lexington Mall, which saw reduced traffic in the years after the wing opened.
The new concourse featured updated flooring, modern lighting, and larger storefronts that accommodated national apparel and specialty brands.
Food service options expanded near the new wing, with a stronger grouping of eateries positioned to draw from both anchor entrances.
The parking layout shifted to support the added square footage, with more spaces positioned close to the expansion’s main entrance.
The wing’s opening cemented Fayette Mall’s position as the primary regional shopping center for central and eastern Kentucky, with its scale surpassing competing properties in nearby cities.
Ownership change and a mid-2000s build: 2001 to 2005
CBL and Associates Properties acquired Fayette Mall on January 31, 2001, as part of a portfolio purchase from The Richard E. Jacobs Group.
The new owner identified the property as a strong performer and later secured a ten-year, non-recourse mortgage against it in 2011, reflecting the long-term investment approach taken during that period.
In January 2005, construction began on a southwest wing designed to bring in Dick’s Sporting Goods as a new anchor.
The store opened as a two-level format, adding a large-scale sporting goods retailer to the mall’s mix for the first time.
The wing also introduced additional inline spaces, broadening the range of national and regional tenants.
Interior upgrades, such as new finishes in common areas, accompanied the project to align the older sections with the updated design.
Retail press from the mid-2000s described strong occupancy levels, with Fayette Mall maintaining a full roster of chain stores across apparel, footwear, and specialty categories.
The addition of Dick’s Sporting Goods diversified the anchor lineup beyond traditional department stores.
At the same time, the accompanying retail bays allowed the property to attract newer brands entering the Lexington market.
This phase marked the first major structural change to the mall since the 1993 expansion.
Replacing Sears and reshaping the center: 2013 to 2023
Sears began a storewide liquidation at Fayette Mall in October 2013, ending decades as one of the property’s original anchors.
Later that year, CBL and Associates Properties purchased the building and surrounding parcel from Sears Holdings, clearing the way for redevelopment.
Construction work removed the existing anchor space and replaced it with a central wing that added new inline storefronts and national brands.
The Cheesecake Factory opened on October 28, 2014, occupying a high-profile spot along the new concourse.
H and M debuted in the same redevelopment phase, bringing a large-format fashion tenant to the market.
The redesigned area featured upgraded flooring, modern lighting, and expanded entry points from the parking lot.
Foot traffic shifted toward the new wing, altering the balance of activity across the mall.
By 2015, Fayette Mall’s central section contained a mix of dining and apparel tenants positioned to draw customers beyond the anchor entrances.
Between 2015 and 2023, several tenant changes reshaped portions of Fayette Mall’s roster without altering its overall footprint.
The Limited closed its store on December 21, 2016, as part of the retailer’s nationwide shutdown during bankruptcy.
In early June 2019, Artique Gallery relocated from Lexington Green into the mall, opening near the newly added Agave & Rye restaurant; around the same time, valet parking was introduced on weekends to serve nearby dining and retail.
The Apple Store closed its Fayette Mall location on February 26, 2021, moving to The Summit at Fritz Farm by March 1.
New tenants and debt actions: 2024 to 2025
In 2024, Fayette Mall management reported 47,283 square feet of new retail openings.
Additions included Barnes & Noble, Five Below, and JD Sports.
A local dining feature announced Mileta, an Italian restaurant, opening on November 9 near The Cheesecake Factory.
Television coverage in November and December showed strong holiday traffic, with mall management noting an increase in seasonal sales.
In February 2025, the property’s newsroom released a summary of the 2024 additions and confirmed more tenants were planned for the year.
CBL and Associates’ portfolio page echoed this update, identifying the center as a core performer.
In May 2025, the company exercised a one-year extension on the loan secured by Fayette Mall.
That summer, Cavender’s Boot City announced plans to open its first Kentucky location inside the mall.
In 2025, Fayette Mall remains under active leasing and operational management, with the ownership maintaining both investment and tenant recruitment as part of its strategy.
The combination of four anchors (Macy’s, Dillard’s, JCPenney, and Dick’s Sporting Goods), national retailers, restaurant openings, and continued financial structuring reflected an ongoing effort to keep the property competitive in the regional market.