Florence Mall, 60 percent vacant and split five ways
In 1976 Homart, the real estate company of Sears, built Florence Mall as a two-level enclosed mall beside Interstate 75 and Kentucky Route 18 in Florence, Kentucky.
After a renovation in 1994, the mall moved its food court into a bigger space in 2007 and added a 14-screen cinema, the layout shoppers found there through the 2020s.
The break came between 2020 and 2022. In March 2020 nearly 88 percent of the mall was occupied. That year its loan of roughly $90 million went into default, and in January 2021 Brookfield Properties handed the property to its lenders…