Eagle Ridge Mall

PAST, PRESENT, FUTURE. NEW AND IMPROVED.

by James Coulter

'Tis the season for holiday shopping, and there’s no other ideal place for shopping than the mall. Unfortunately, as iconic as the shopping mall has become, especially during the holidays, countless malls across the country have struggled due to competition with online shopping.

However, while many have devolved into ghost towns, others have made epic comebacks by evolving into indoor community spaces for local businesses and entrepreneurs. Perhaps no better example of this trend exists in Polk County than Eagle Ridge Mall in Lake Wales.

While its main anchor stores JCPenney and Sears have long closed, along with many of its stores and eateries, Eagle Ridge Mall, like several other malls nationwide, has experienced a revitalization with new tenants moving in and breathing new life into the long empty corridors.

Since coming under new management last June, Eagle Ridge has opened nearly a dozen new stores and even re-opened its bowling alley and entertainment center. These new stores include a toy store, a comic books and collectibles shop, a hair salon, a tattoo parlor, three boutiques, an art gallery, and an insurance agency.

Mall Manager Charles Caraway owes its turnaround to its low leasing rates, which have allowed new businesses to move in, and repairs to its air-conditioning unit, which have allowed mall patrons, old and new, to enjoy the mall more comfortably. With new repairs and renovations planned, along with several new businesses expected to move in, he anticipates that the mall will return to its glory days soon.

“It has been very promising,” he said. “I see the future of Eagle Ridge Mall being better than it is right now.”

THE PAST

Eagle Ridge Mall opened the doors to its 660,000-square-foot facility in 1996. Originally, it had three anchor stores: Sears, JCPenney, and Dillard’s. It is also home to a Regal Cinemas movie theater and a bowling alley, both of which remain to this day.

Like many malls across America, it experienced its prime during the 1990s. However, with the rise of online shopping, Eagle Ridge inevitably faced a decline. By 2009, the company that owned it filed for bankruptcy.

As Wikipedia explains: “General Growth Properties, Inc., the mall’s owner, owned 358 malls and shopping centers in forty-four states. This at the time was said to be the largest real estate bankruptcy in United States history. It was sold to Madison Marquette, and again in 2013 to Tabani Group.”

As with other malls nationwide, Eagle Ridge saw the closure of its main anchor stores, first with Sears closing in 2016, and JCPenny closing in 2020. Currently, Dillard’s is the one and only anchor store left remaining.

In 2018, Eagle Ridge Mall changed hands after being sold in an auction with an opening bid of $2.7 million. The mall was purchased by Stockbridge Enterprises, a Michigan company, for $7.8 million. According to The Ledger, by then, that mall was only “71 percent occupied” and its “appraised value in 2017 was $2.6 million, down from $4.1 million in 2013.”

THE PRESENT

In June, Eagle Ridge was placed under new management with Caraway. His first order of business: repair the broken air conditioning unit. After the mall received countless complaints from patrons about the unbearable heat, he knew repairs were in order. So he invested $40,000 in renovating the system, as reported by Daily Ridge.

The next order of business was to bring in new stores to the mall. He accomplished this by offering low rental fees. Currently, there are spaces for 95 stores in the mall. Over the past year, the mall has had 56 stores open, making it halfway full, the Daily Ridge reported.

Caraway feels that appealing to new and prospective business owners is the best policy. Not everyone can open a new business at a storefront, but by covering their utilities with their rent, he hopes to attract new businesses with their affordable rates, he explained.

“I do not think there is anywhere in Lake Wales, maybe even Polk County, where you can go and start a business for a thousand dollars,” he said. “We cover your light and water bill. You do not have to worry about those extra hassles and costs of starting a business.”

Their biggest accomplishments under new management have been twofold. First was the opening of Spirit of Halloween, which saw foot traffic increase during the fall season. The second was the re-opening of their bowling alley and entertainment center as Lake Wales Bowl.

Estaban Nina and his wife revitalized the center and its eatery. The bowling alley and arcade are already up and running, the eatery is serving pizza, hot dogs, and wings.

The full-service restaurant is expected to open its doors soon, and delivery will soon be offered as well. Estaban owes its success to its customers, who have helped spread the news about it through word of mouth.

“This is a place that people have been wanting to be open,” he said. “Everyone who walks in is happy we have opened the bowling alley. It is really for them… They are commenting on how our customer service is different than what it was in the past. They know we are family-oriented and that we are catering to the families of Lake Wales.”

THE FUTURE

Caraway has high expectations that he hopes will be exceeded in the coming years. He expects more stores to move into the mall, especially larger big-brand stores. Hopefully, the added traffic from the new stores will help attract these larger brands, he said.

“It is a Catch-22: to get a big brand store, you need the foot traffic, and to get the foot traffic, you need the big brands,” he said. “So, my best advice is to patronize the stores in the mall now so we can get back what used to be and build back better.”

Currently, a hair salon and academy are planned to be built in a former restaurant space. Also opening soon is Unicorn Castle, an entertainment venue for children that will include event spaces, hair salons, and ear piercings.

Meanwhile, outside the mall, three fast-food franchises will be opening along US Highway 27 with Starbucks, Freddy’s Steakburgers, and Checkers. That corridor has already experienced growth and development with the opening of Wawa at the corner of Highway 27 and Chalet Suzanne Road, and with Serenity Lake Apartment Complex across the road from the mall.

Many events are planned to be hosted soon inside the mall, including a proposed comic book convention. Word of mouth has already spread on social media, with Caraway heavily promoting it through Facebook. With more and more people coming to the mall, Eagle Ridge will hopefully grow bigger and better.

“My advice is to come and see the difference,” he said. “There is a positive change and new businesses. We need people to appreciate what we do have, and when they do, they will see bigger and better things.”

Eagle Ridge Mall is located at 414 Eagle Ridge Dr., Lake Wales, FL 33859. For more information, visit their Facebook page at: https://www.facebook. com/profile.php?id=100070360814526