The Moreno Valley Mall at Towngate is a

shopping mall A shopping mall (or simply mall) is a North American term for a large indoor shopping center, usually anchored by department stores. The term "mall" originally meant a pedestrian promenade with shops along it (that is, the term was used to refe ...

located on the former site of the

Riverside International Raceway Riverside International Raceway (sometimes known as Riverside, RIR, or Riverside Raceway) was a motorsports race track and road course established in the Edgemont area of Riverside County, California, just east of the city limits of Rivers ...

in Moreno Valley, California. Developed by

Homart Development Company Homart Development Company, a Chicago-based subsidiary of Sears, was one of the largest builders of shopping centers and malls in the United States from 1959 to 1995. Company history As retail development in the United States shifted away from d ...

, the initial anchor stores in 1992 were

Sears Sears, Roebuck and Co. ( ), commonly known as Sears, is an American chain of department stores founded in 1892 by Richard Warren Sears and Alvah Curtis Roebuck and reincorporated in 1906 by Richard Sears and Julius Rosenwald, with what began a ...

, J. C. Penney,

May Company California May Company California was a chain of department stores operating in Southern California and Nevada, with headquarters in North Hollywood, California. It was a subsidiary of May Department Stores and merged with May's other Southern California s ...

, and Harris Department Stores and had 140 specialty stores.Link
via

ProQuest ProQuest LLC is an Ann Arbor, Michigan-based global information-content and technology company, founded in 1938 as University Microfilms by Eugene B. Power. ProQuest is known for its applications and information services for libraries, provid ...

. In the early years competition for tenants divided prospects between competing developers. In September 1996 the City confirmed that lower than anticipated revenues would result in a shortfall estimated to extend the payback period of the $13 million infrastructure loan to an estimated 2026 with the loan peaking at $19.5 million. Also, the mall was then valued at $66 million, far less than its original valuation of $107 million. Moreno Valley Mall directly contracts with the local Police Service as well as private security firm for security services. In 2015,

Sears Holdings Sears Holdings Corporation was an American holding company headquartered in Hoffman Estates, Illinois. It was the parent company of the chain stores Kmart and Sears and was founded after the former purchased the latter in 2005. It was the 20th- ...

spun off 235 of its properties, including the Sears at Moreno Valley Mall, into Sertiage Growth Properties. International Growth Properties purchased Moreno Valley Mall in November 2017 for $63 million. On November 7, 2019, it was announced that Sears would be closing this location a part of a plan to close 96 stores nationwide. The store closed on February 2, 2020.

Major anchors

Harkins Theatres Harkins Theatres is an American movie theater chain with locations throughout the Southwestern United States. Harkins Theatres is privately owned and operated by its parent company, Harkins Enterprises, LLC. The company currently operates 33 t ...

Macy's Macy's (originally R. H. Macy & Co.) is an American chain of high-end department stores founded in 1858 by Rowland Hussey Macy. It became a division of the Cincinnati-based Federated Department Stores in 1994, through which it is affiliated wi ...

* J. C. Penney * Round1 Entertainment

Former anchors

Harris Harris may refer to: Places Canada * Harris, Ontario * Northland Pyrite Mine (also known as Harris Mine) * Harris, Saskatchewan * Rural Municipality of Harris No. 316, Saskatchewan Scotland * Harris, Outer Hebrides (sometimes called the Isle of ...

- Store converted into Gottschalks in 1999. *

Gottschalks Gottschalks (former NYSE ticker symbol GOT) was a middle-tier American department store that operated 58 department stores and three specialty apparel stores in six western states (California, Washington, Alaska, Idaho, Oregon, and Nevada); some ...

- Store closed in 2008 due to struggles before bankruptcy in 2009. * May Company - Store converted into Robinsons-May in 1993. *

Robinsons-May Robinsons-May was a chain of department stores operating in Southern California, Arizona and Nevada, from 1993 until 2006. It was created when May Department Stores combined two of its chains, May Company California and J. W. Robinson's cha ...

- Store converted into Macy's in 2006. *

- Store closed due to company's struggle in February 2020.

References

{{Shopping malls in California Moreno Valley, California Shopping malls in Riverside County, California Shopping malls established in 1992