Oak Hollow Mall
• 1989: CBL & Associates’ plan was first rejected by the High Point City Council because of concern about how the mall’s storm-water runoff might affect Oak Hollow Lake.
• 1993: The company returned with new plans that were approved.
• Apr. 1994: Construction began.
• Mar. 1995: In addition to the five anchor stores, fifteen shops signed on as tenants.
• Aug. 9, 1995: Mall opened. Although smaller than Four Seasons and Hanes, Oak Hollow contained 15 retailers new to the Triad.
• Jun. 2005: Goody’s announced its closing, citing poor performance at the mall.
• Nov. 2007: Mall owners, CBL, acquired Friendly Center and the Shops at Friendly.
• May 2008: CBL began discussions to sell the Oak Hollow Mall.
• 2009: CBL lost $7 million on revenues of $1.1 billion.
• Apr. 2010: The mall was listed for sale for $15 million.
• Aug. 2010: CBL announced sale negotiations were underway
• Jan. 2011: JC Penney announced its closing.
• Feb. 2011: High Point University bought the mall for $9 million. The tax valuation for the mall was about $63 million.
• Dec. 2011: Sears closed, leaving Dillard’s and Belk as the two remaining anchor stores.
Quick Facts about the new mall:
• Cost $75 million to build.
• Developed by CBL & Associates Inc., of Chattanooga, Tenn.
• Anchored by five department stores: Belk-Beck, Dillard’s, JC Penney, Sears and Goody’s. A total of eighty retailers.
• Total space: 950,000-square-feet.
• Employs about 2,500.
• Projected annual retail sales of $121 million.
• Retailers include: American Eagle, a clothing store; Foot Locker, an athletic shoes store; Radio Shack, which sells electronic equipment; His Image, a men's clothing store; Lemstone Books, which sells Christian and inspirational gifts; Spencer Gifts, a novelty store; Schubach Jewelers; Brighton's Place, a men's clothing store; Pleasures & Treasures, a gift and tobacco store; Chic Wigs; Jarman, which sells men's and boy's shoes; Gelato Amare, which sells frozen desserts; Sbarro, a restaurant; and Great Steak & Potato Co.
Sources: News & Record Archive; Lexis-Nexis News Sources.
Compiled by Diane Lamb, News & Record News Researcher