Freehold, New Jersey's largest mall, has hired former Citigroup CEO and former White House economic adviser Robert Rector as the new CEO of its new freehold, sunset and sunrise malls.Rector will oversee the development of the new mall, the first of its kind in the country.The freehold mall is in Sun City, a suburb of New York City, and has about 700,000 square feet of space, including more than 60...
Desert Sky has announced it will close its mall in Arizona for good.
The mall, which was the only mall in the United States that used to sell goods to the military, has been closed since March.
It is now the third mall in Phoenix that has been shut down.
The Mall of America was the third-largest mall in America by revenue in 2015.
The company said it was closing due to the economic downturn.
The closure comes amid growing competition for retail space in the US and a general decline in the economy.
“The Mall of Americas’ closure comes as the economy has become more competitive,” Desert Sky President and CEO Dan Kohn said in a statement.
“Our decision to close our Arizona location was made with the intention of continuing to serve our customers, and to ensure that we remain in Arizona as the top-rated, largest-selling mall in our market.”
A large section of the mall is now closed to visitors, although the mall still offers free parking and gift cards to employees and visitors.
The shopping center also is no longer accessible from the road.
There are several other malls in the Phoenix metro area, including the former Marriotts Crossing mall that closed in the spring.