**Town East Mall in Mesquite Avoids Foreclosure, Plans Revitalization**
The Town East Mall in Mesquite, Texas, which has served the community since its opening in 1971, recently faced the threat of foreclosure. Owned by Brookfield Properties, the mall was under pressure due to a $160.3 million loan that had entered foreclosure proceedings. However, the issue has now been resolved, allowing the property to stay afloat—at least for the time being.
Spanning approximately 1.2 million square feet, Town East Mall hosts a number of major retailers, including Dillard’s, JCPenney, and Dick’s Sporting Goods. Despite its size and tenant roster, the mall has been showing signs of age and declined foot traffic, reflecting the broader national trend affecting traditional shopping centers.
In a move aimed at revitalizing the property, Mesquite City Council approved a rezoning plan to transform the long-vacant Sears space into a 58,000-square-foot Main Event entertainment complex. The new attraction is expected to feature escape rooms, bowling alleys, and arcade games, providing a modern, experience-based draw to the aging shopping center.
Further efforts to support the mall’s viability include a recent incentives agreement between the City of Mesquite and Brookfield Properties to retain Macy’s as an anchor tenant. Under the agreement, Macy’s must remain at Town East Mall for at least five years—with the possibility of a 10-year term—and achieve a minimum of $15 million in annual sales in order to qualify for a 1% tax rebate. The store must also continue operating as a Macy’s retail location throughout the agreement.
These combined efforts reflect a broader strategy to reimagine the mall’s future, transforming it into a community hub for both shopping and entertainment while preserving its foundational retail presence.
