Rob Roberts / Kansas City Business Journal – The Great Mall of the Great Plains in Olathe will close sometime this fall, according to VanTrust Real Estate LLC, the asset manager for the property.
VanTrust is now working with the Olathe Chamber of Commerce and Olathe Economic Development Council to determine the best reuse of the property.
Opened in 1997, the 1 million-square-foot indoor mall is located on 110 acres at the intersection of 151st Street, Interstate 35 and U.S. Highway 169.
“The decision to close was difficult, but one that was guided by very compelling economic realities,” VanTrust said via a written statement on Monday. “The development began to face struggles soon after it opened and has been unable to recover in the intervening years due to a variety of factors, including the economic downturn and changes in customers’ shopping habits.”
Results from recent retail studies conducted by Jeff Green Partners indicate that the site can now support only a fraction of the mall’s existing retail square footage. Thus, “the structure, maintenance costs and layout do not support preservation of the current building,” the release stated.