A foreclosure on the Acadiana Mall is expected sometime this year.
In February, a federal judge assigned Spinoso Real Estate Group to manage the site after the previous owner, CBL Properties, defaulted on a major loan.
“Our firm is charged with conducting the leasing and property management of the mall until the foreclosure, which we expect will occur sometime during 2018,” said Tom Herman, president/principal of Spinoso, in a Thursday email.
“Unfortunately, at this time, we are not able to share any other information or plans relating to the property,” Herman added.
In recent years, several Acadiana Mall stores have closed, including Sears, Brookstone, and New York and Company. There have been some new additions, including Shi Shi Boutique. The mall plans to open at least two new businesses — Torrid, a clothing store, and T65, a café — later this year.
The changes come as traditional malls across the country struggle with new shopping behaviors, less foot traffic and the closure of large department stores like Sears and JCPenney.
Herman said Spinoso has leased and/or managed 34 malls in the United States since 2012. This includes sites in New York, California, South Carolina, Tennessee and more.
“While founded in 2009, the principles of the firm have well over 25 years of mall-specific experience,” Herman said.
Previously, a spokesperson for CBL Properties said the mall ownership change will have “no impact” on the Ambassador Town Center in Lafayette, another CBL property. The shopping center houses stores and restaurants such as Costco, Dick’s Sporting Goods, Home Goods, Chuy’s, Blaze Pizza and more.