The Ottumwa Courier

Business

July 30, 2013

Mall regains footing with new management, fewer vacancies

OTTUMWA — Malls across America are standing vacant or shutting down, but Ottumwa's mall is on the upswing, said its manager.

According to Green Street Advisors, a leader in real estate research, 10 percent of the nation's indoor malls will die within the decade.

But since Lexington Realty International began managing and leasing store space at Quincy Place Mall last summer, the mall will not suffer a similar fate, said mall manager Staci Shettler.

Lexington Realty International, a New Jersey-based company, owns and has revived several malls in the Midwest.

Ottumwa's 23-year-old, 243,399-square-foot mall has two anchor tenants: Herberger's and J.C. Penney's. According to LRI, since it took over last year, expenses have already been lowered 40 percent and the mall has four new tenants: rue21 opened in October, Bubba-Q's opened in April, MC Sports will open Aug. 26 and Glik's will open in early October.

"It's amazing what's happening here," Shettler said. "I've been here as mall manager for a little over five years, and this is the most leasing activity I've seen in five years by far, and probably more so than in the past 10 years. Of course there are other things in the works ... that we just can't speak about yet, but obviously we're concentrating on leasing out any of the vacancies we have."

When the mall was purchased last summer, it was 63 percent occupied. Today, that's grown to 81 percent. And, she said, 100 percent occupancy is possible.

She has worked at the mall in some capacity for the last 17 years and has "seen it at its best and at its worst."

"When I took this job five years ago, I took it knowing what the mall could be and knowing there was potential here, and with the right management and right owners, it could be revitalized," she said.

Text Only
Business
  • Ottumwa Walk-in Clinic to move OTTUMWA — The Ottumwa Walk-In Clinic will soon have a new place to call home. The clinic, currently located in the Kmart plaza, will be relocating to 1255 Theater Drive next to the new Aspen Dental clinic. Along with the re-location, the clinic will

    July 31, 2014

  • Local grains for Aug. 1, 2014 (Per bushel) No. 2 No. 1 Corn Soyb Wht Cargill 3.56 Farmer’s 3.48 12.18 DFS Osky 3.51 12.47 Reiff Grain 3.49 12.14 Wapello Co. 3.40 12.10 Two Rivers 3.38 12.35 Tri-County 3.44 12.34

    July 31, 2014

  • Robert Kimmel Kimmel retires from John Deere OTTUMWA — John Deere Ottumwa Works announces the retirement of one of its employees. Robert Kimmel, of Ottumwa, will retire effective July 31 after 34 years of service.

    July 31, 2014 2 Photos

  • Local grains for July 31, 2014 (Per bushel) No. 2 No. 1 Corn Soyb Wht Cargill 3.63 Farmer’s 3.54 12.14 DFS Osky 3.58 12.56 Reiff Grain 3.54 12.13 Wapello Co. 3.43 12.04 Two Rivers 3.42 12.34 Tri-County 3.50 12.43

    July 30, 2014

  • Local grains for July 30, 2014 (Per bushel) No. 2 No. 1 Corn Soyb Wht Cargill 3.66 Farmer’s 3.54 12.18 DFS Osky 3.61 12.70 Reiff Grain 3.54 12.17 Wapello Co. 3.46 12.09 Two Rivers 3.42 12.55 Tri-County 3.50 12.57 4

    July 29, 2014

  • Mid-American alerts customers to scams DES MOINES — Scam artists are at it again. MidAmerican Energy Company and local police have noted an increase in reports of suspicious calls and personal contacts from individuals posing as utility employees and threatening customers with service dis

    July 29, 2014

  • Local grains for July 29, 2014 (Per bushel) No. 2 No. 1 Corn Soyb Wht Cargill 3.73 Farmer’s 3.51 12.43 DFS Osky 3.68 12.83 Reiff Grain 3.60 12.35 Wapello Co. 3.53 12.36 Two Rivers 3.48 12.66 Tri-County 3.55 12.43

    July 28, 2014

  • Local grains for July 26, 2014 (Per bushel) No. 2 No. 1 Corn Soyb Wht Cargill 3.61 Farmer’s 3.57 12.34 DFS Osky 3.56 12.58 Reiff Grain 3.55 12.34 Wapello Co. 3.41 12.26 Two Rivers 3.43 12.40 Tri-County n/a n/a n/a

    July 25, 2014

  • West Music receives two national awards CORALVILLE — West Music Company, headquartered in Coralville, has been honored with two national awards, a Top 100 Dealer award by the National Association of Music Merchants (NAMM) as well as the Steinway Dealer of the Year award in June 2014. The T

    July 25, 2014

  • MidWestOne releases earnings IOWA CITY — MidWestOne Financial Group Inc. recently reported results for its three and six months ended June 30. Net income for the second quarter of 2014 rose to $4.8 million, compared with $4.5 million for the same period last year. Diluted earnin

    July 25, 2014

Obituaries
Record
Facebook
AP National