SPRINGFIELD, Ohio (WDTN) – The Upper Valley Mall in Springfield is now under new ownership. The New Upper Valley Associates LLC purchased the site from it’s previous owners for $2.6 million on December 28th.
The property was first built back in 1971 and since then the value has steadily declined. Back in 2007, it was appraised at 20-million dollars.
Over the last few years, major retailers have left the area. In January, stores, including, Macy’s and JCPenneys announced plans to leave the mall.
In a statement, the new owners say they’ll be working with local officials to help bring back customers to the once popular shopping hub.
Residents we spoke with say they’re hoping they see improvements in the future.
“I just hope something can move in that would be beneficial to all the people in Clark County and the Springfield area because we desperately need it,” Clark County resident Larry Zerkle said.
According to our partners at the Dayton Business Journal, the 729,000 square foot shopping mall is the fourth largest mall in the Dayton area.