Silver City Galleria facts for kids
Entrance to the food court and restaurant wing, January 2020
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| Location | Taunton, Massachusetts, United States |
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| Coordinates | 41°51′50″N 71°03′07″W / 41.864°N 71.052°W |
| Address | 2 Galleria Mall Drive |
| Opening date | March 1, 1992 |
| Closing date | February 29, 2020 |
| Developer | The Pyramid Companies |
| Management | Jones Lang LaSalle |
| Owner | Thibeault Developments |
| Architect | ADD, Inc. |
| No. of stores and services | 120 |
| No. of anchor tenants | 7 (all vacant) |
| Total retail floor area | 1,030,000 square feet (96,000 m2) |
| No. of floors | 2 |
| Parking | 4,900 parking spaces |
| Website | none |
The Silver City Galleria was an enclosed, two-level, super-regional mall located off Route 24 and Route 140 in Taunton, Massachusetts, United States. It covered a leasable area of over 1,000,000 square feet (93,000 m2), and served multiple cities and towns in the region.
The mall's facilities included 120 retail stores, 7 department stores, 33 customer services, a ten-screen cinema, 6 sit-down restaurants, 6 specialty eateries, an arcade, a food court, a center court, and a children's play area. IPC International managed security, and UGL Limited's Unicco managed facilities services.
Anchor tenants included Sears, JCPenney, Macy's, Best Buy, Dick's Sporting Goods, Regal Cinemas, and Round One Entertainment.
History
Silver City Galleria opened on March 1, 1992. ADD, Inc. designed the mall, and The Pyramid Companies planned and developed it at around the same time that several other malls in the region (Independence Mall, Now Kingston Collection, and Berkshire Mall)were being built. When Silver City first opened, it was seemingly situated in the middle of nowhere; the surrounding area was a forest, with little to no other developments. However, its strategic location at the intersection of Routes 24 and 140 and its close distance to the I-495 allowed Silver City to draw traffic from towns and cities in all directions, including Boston and Providence. The modern mall quickly became a popular shopping destination in the state of Massachusetts, bringing fatal competition to many other malls such as the now-defunct Mill River Place.
In 2002, Silver City Galleria was purchased in a joint venture between General Growth Properties and the Teachers' Retirement System of the State of Illinois in a $634 million deal that involved three other malls.
Recent years
After the stock market crash due to the Great Recession in September 2008, Silver City Galleria saw a sharp decline in both its traffic and its finances. Many retailers closed their stores without replacement stores moving into the vacated lots. In March 2010, the mall reached an estimated 75 percent occupancy rate, which is very low by industry standards. Some of the more notable national brands that left included Old Navy, Max Rave and Pacsun.
The exodus of tenants only amplified the financing troubles plaguing the mall. The mortgage on the mall, serviced by Midland Loan Services, went into default in November 2009. In September 2011, negotiations to sell the mall fell through.
In mid-November 2011, the Galleria was bought out by Midland Loan Services, ending the ownership by General Growth Properties. In early December 2011, Silver City Galleria's management was replaced with Cushman & Wakefield Commercial Real Estate Management.
In July 2013, the mall was bought out again by the MGHerring group in conjunction with the Tricom real estate group. In April 2014, the mall announced that it was set to undergo renovations, reducing the likelihood of foreclosure. On January 8, 2015, JCPenney announced that it would be closing its store in Silver City as part of a plan to close 39 under-performing stores nationwide. The store closed in April 2015.
In May 2015, the mall announced that a new tenant, Round One, would be placed in the spot formerly occupied by Steve & Barry's and Lechmere. The mall also announced that the Regal Cinemas would be upgraded with a restaurant and a bar as well as recliner chairs and a new entrance. Both of these improvements were completed by December 2015.
Macy's announced on January 4, 2017 that they would be closing their Silver City location as part of a plan to close 68 stores; the store closed in April 2017. On September 15, 2017, Best Buy announced that it would also be closing in October 2017 as part of a plan to close 15 stores nationwide, leaving Sears and Dick's Sporting Goods as the only anchor tenants remaining. On August 22, 2018, Sears announced that they would closing their Silver City location in November 2018 as part of a plan to close 46 stores nationwide, leaving Dick's Sporting Goods as the last remaining anchor tenant.
In May 2019, the mall was foreclosed on by the Branch Banking and Trust Company due to an unpaid mortgage loan. On May 17, 2019, the Silver City Galleria was sold for $7.5 million at an auction. On June 19, 2019, Thibeault Developments, the new owners, said that the mall's former owners and management would continue to manage the mall during their ownership. They also said that they would announce redevelopment plans in the near future. On October 17, 2019, it was announced that Bristol Community College would be leaving Silver City in 2020.
On February 4, 2020, the mall abruptly give notices of termination to six tenants; the only remaining tenants at this point were on the mall's west side or rear. The mall's main entrance was also closed at this time, with signs directing shoppers to the entrance near Regal Cinemas. The mall closed for good on February 29, 2020.
Regal Cinemas shut down in 2020 as part of a temporary closure of all Regal theaters due to the COVID-19 pandemic. On December 11, 2020, it was announced that Round One Entertainment would be closing in January 2021. Dick's Sporting Goods closed in early January 2021. On January 21, 2021, it was announced that Silver City Galleria would be demolished in February, with one investor saying that it was too expensive to keep open.
