Shenango Valley Mall

Shenango Valley Mall is a shopping mall located in Hermitage, Pennsylvania. It is anchored by JCPenney.
== History ==
The McConnell family originally owned the land of Shenango Valley Mall until its 2022 sale. Built in 1969 by Crown American Corporation, the 514,000 sq ft mall opened with JCPenney, Sears, and W.T. Grant as anchors. W.T. Grant became Strouss in 1976, rebranded as Kaufmann's in 1986, and then Macy's in 2006. In 1997, a $3.5 million renovation took place, the first major upgrade since the 1960s, including the expansion of Kaufmann's. Ownership shifted from Crown American Realty Trust to PREIT in 2003, and in 2004, PREIT sold the mall, along with five others, to The Lightstone Group.
Kaufmann's underwent a rebranding as Macy's in August 2006. In January 2009, Shenango Valley Mall, along with three other malls, entered receivership, and Jones Lang LaSalle assumed management responsibilities. Jones Lang LaSalle placed the mall, along with three others, up for sale in May 2009. However, an attempted sale, which included two other malls, fell through in 2010.
In March 2017, Shenango Valley Mall gained national attention with the closure of Macy's and Sears, excluding Sears Auto Center. Both Firestone and Sears Auto Center suffered damage from a storm that same month. In response to the loss of two anchors, Hermitage City and School District challenged the mall's tax reassessment in 2017. The mall defaulted on its $3.430 million loan in February 2018, leading to Metro Commercial being assigned as the operator. Iowa Square Realty LLC acquired the mall at a sheriff's sale for $50,000 in July 2018. Subsequently, Sears Auto Center closed in October 2018.
JSMN Shenango Valley Mall defaulted on the mall's $3.430 million loan in February 2018, leading to the appointment of Metro Commercial as the mall's operator by the courts. Subsequently, in July 2018, the mall's lender, Iowa Square Realty LLC, acquired it at a sheriff's sale for $50,000. Sears Auto Center ultimately closed its doors in October 2018.
Court hearings took place in December 2018 concerning Iowa Square Realty's ownership of the mall, stemming from issues related to maintenance, unpaid rent, and taxes. By December of that year, the mall had accrued $243,000 in debt due to outstanding rent and taxes. In January 2019, the court awarded ownership of the mall to GFM 23 (McConnell family) because Iowa Square Realty failed to pay a court-ordered $25,000 bond. Early in 2019, challenges included problems with the parking lot and a leaky roof. The mall's tax assessment issues were resolved in June 2019.
Legal hurdles emerged in 2019 with JCPenney, affecting the planned redevelopment of the mall, and as a result, LRC Realty did not finalize its purchase of the mall as announced in 2019. In February 2022, the mall's owner won a common pleas court decision against JCPenney concerning the potential redevelopment of the mall. JCPenney appealed the case as of August 2022. Shenango Valley Mall changed hands and was sold to Butterfli Holdings LLC (FLICORE LLC) in August 2022.
In January 2024 it was announced that the JCPenney store would be closing Sunday, May 5th, 2024
Category:Malls in Pennsylvania
Category:Malls in the United States
Category:Malls that opened in 1969
Category:Former Kaufmann's-anchored Malls
Category:Former Macy's-anchored Malls
Category:Former Sears-anchored Malls
Category:Crown American
Category:JCPenney-anchored Malls
Category:PREIT Malls