ActivePaper Archive Part of mall to be razed to pave way for eateries - Springfield News-Sun, 7/19/2014

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Part of mall to be razed to pave way for eateries

Work planned at Mall at Fairfield Commons in Beavercreek.

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A portion of the Mall at Fairfield Commons being vacated by Elder-Beerman as part of a consolidation will be demolished to make room for four to five potential restaurants, owners of the Beavercreek mall said Friday. TY GREENLEES / STAFF

BEAVERCREEK — The owners of the Mall at Fairfield Commons said Friday they intend to demolish a portion of the mall being vacated by Elder-Beerman to pave the way for four to five potential restaurant locations.

The announcement was made by Glimcher Realty Trust officials during an earnings conference call to discuss the Columbus-based company’s second-quarter 2014 financial performance. And it comes a few months after Glimcher put 13 of its 28 malls across the country up for sale

— including the Mall at Fairfield Commons and the Dayton Mall, which it also owns.

Company officials reiterated Friday that they intend to sell only three or four of those 13 and keep the rest, at least for now.

Elder-Beerman has operated stores on both ends of the Beavercreek mall for several years but announced in April that it will consolidate into its store on the north side of the mall that holds its Men’s, Kid’s and Home departments. The consolidation will leave vacant the portion of the mall that previously housed Elder-Beer-man’s women’s departments and once housed a Parisian department store.

Under Glimcher’s plan, that portion of the mall would be torn down to pave the way for restaurants or “entertainment concepts,” according to Fairfield Commons mall spokeswoman Kristie Miller. There has been considerable interest in the spaces, Miller said. Demolition will likely begin late this year or early next year, Miller said.

Beavercreek Associate City Planner Sandra Pereira said Friday that Glimcher officials have discussed the demolition project informally with city officials.

Late Thursday, the publicly traded Glimcher reported its second-quarter 2014 earnings report that showed a net loss to shareholders of $5.6 million, or 4 cents a share. But total revenues and the average rent that Glimcher charges to mall tenants rose over last year, and total occupancy for Glimcher’s malls increased from 94.7 percent a year ago to 95.3 percent this year.

Demolition will likely begin late this year or early next year.