Shadle Center Put Up For Sale Decision Puts Redevelopment On Hold

The owners of Spokane’s Shadle Center have decided to put the aging North Side mall up for sale, indefinitely halting a multimillion-dollar redevelopment plan.

“They have made a decision to sell it,” said Dave Black, chief executive officer of Tomlinson Black Group of Cos., which manages the mall.

The owners are South Carolina-based Insignia Financial Group and California-based Century Properties Fund XI.

The owners are putting together a marketing package for the mall that will be sent to potential buyers by the end of August, Black said. The asking price will not be revealed until the marketing package is complete, he said.

The proposed redevelopment included demolition of the existing enclosed mall and placement of tenants in a line, anchored by a new Safeway supermarket, Payless Drug Store, Newberry’s, Lamont’s and Ernst Home Center.

The mall’s future has been clouded by the fact that three of its anchors - Lamont’s, Newberry’s and Ernst - are in bankruptcy. Only Newberry’s had filed for bankruptcy when the redevelopment plan was hatched.

Ernst filed for Chapter 11 bankruptcy protection last month, closing one of its four Spokane stores.

The plans also called for demolition of the Safeway store and construction of a new one at the former J.C. Penney site.

Developers planned to move Chuck E. Cheese, now next to Safeway, to a 20,000-square-foot building on the lot’s southwest corner. The pizza restaurant was to occupy 12,000 square feet of that space, with the rest to be leased to other retailers.

The proposal once included a 12-screen theater, but the plans were scaled back due to neighborhood opposition.

, DataTimes