COLUMBUS, Ohio - Even though the owner of the Southern Park Mall and other retail properties around the country reported a loss of $103 million in its quarterly report issued on Monday, Washington Prime Group still speaks glowingly about the future of its property in Boardman.

The report states that the former Sears property at the Southern Park Mall is one of 24 department store spaces on Washington Prime’s Tier 1 and open-air portfolio that the company plans to redevelop.

The lease with Sears at Southern Park Mall was proactively terminated, and the store closed in 2018.

Demolition of the former Sears store was completed a year later, and plans got underway for several outward-facing retail stores and restaurants, as well as green space that can be used for community events.

The additions include fitness, dining, and shopping to diversify the property, according to the report.

Stating that the COVID-19 pandemic continues to have a negative impact on both the Company's operations and tenants, Washington Prime Group said all its shopping centers were open during the six months ended June 30.

The company granted rent relief to some tenants through a combination of approximately $3.3 million of rent abatements and rent deferral.

Washington Prime cautioned that further worsening of the financial condition of tenants might impact future collectability of rent.

“The situation continues to evolve as vaccine distribution continues to accelerate while certain geographic regions across the United States are experiencing a surge in new cases as a result of mutant strains of COVID-19, which could result in shoppers limiting their instore purchases in exchange for curbside or on-line purchases,” according to the report.

The company filed Chapter 11 bankruptcy in mid-June as part of an effort to stave off default on its debts.