MEMPHIS, Tenn. — The Southland Mall in Whitehaven has a new owner. The mall has seen its share of issues over the years, mostly when it lost Macy’s last year due to a lack of business. The Macy’s closure has left a gigantic hole in the large retail market in the Whitehaven community that certainly needs it.
“More business more money, that’s how I see it,” said one worker at the Southland Mall on Tuesday.
However, apparently that wasn’t happening when the Southland Mall Shopping Center LLC owned the property and they defaulted on a $17 million loan taken out in 2007. On March 31 the property was scooped up at auction by 1215 East Shelby Drive Holdings LLC, overseen by a larger commercial lender out of Maryland.
Now an attorney who worked closely to the deal said a more permanent owner needs to be found.
Few details have been released about what’s next. When WREG talked to Southland’s manager on Tuesday, he said all he knows is the auction was on the March 31 and he’s waited with bated breath.
“I hope the person that purchases it really tried to enhance it and enhance the environment in a positive way,” said Alex Hamdi.
Hamdi and his family own two clothing stores at Southland; other locations for their business fizzled.
“Raleigh Springs Mall died out,” he said.
Unfortunately Southland has had trouble keeping business too. Macy’s was one of 14 stores across the country gutted last year.
When you bring up Southland’s future to people in the Whitehaven community, they’re optimistic, but it reminds many of another hollowed-out mall right across the street Southbrook.
“Something has to happen with Southbrook Mall. The city promised them money last year under the Wharton administration, and they took that promise back,” said City Councilwoman Janis Fullilove.
Fullilove said she’s continually pushed for improvements of the Southbrook Mall, another large building across the street that has projects in the works but continues to fall by the wayside. She hopes with the development of Elvis Presley Boulevard, Southbrook and Southland get needed attention, too.
“You’ve got to look at the other end and say something has to work,” said Fullilove.
We made multiple calls to Southland’s new owner but were told it’s a matter of policy not to discuss business deals