August 6, 2025

Mall St. Vincent in Shreveport Under New Ownership

News Summary

Mall St. Vincent in Shreveport has new ownership following its acquisition by Summit Properties USA, sparking hopes for revitalization. The mall, once struggling with foot traffic after the closure of an anchor store, is set to attract new tenants and benefit from a new medical facility occupying the former Sears space, potentially bringing jobs and increased activity to the area.

Shreveport, Louisiana – Mall St. Vincent Under New Ownership with Plans for Revitalization

Mall St. Vincent in Shreveport has new ownership, marking a significant turning point for the shopping center. Summit Properties USA has acquired the mall, which spans 160,000 square feet and is currently home to 42 storefronts, including national retailers such as Claire’s and Bath & Body Works. The announcement came via a social media post that highlighted a “new team, fresh energy,” stirring excitement among local residents and business owners.

The acquisition follows a period of decline for the mall, particularly after the closure of one of its two anchor stores, Sears, in 2018. This loss contributed to a downturn in foot traffic that has raised concerns about the mall’s sustainability. In a strategic move to revitalize the area, the LSU Health Sciences Foundation has purchased the former Sears building for $3.5 million and plans to transform it into a medical facility. The facility will focus on research related to cardiovascular health, cancer, and addiction studies and is projected to employ approximately 250 people, which is expected to enhance activity in the area.

Ownership Transition and Future Plans

Summit Properties USA, specializing in developing and managing various types of facilities including residential and retail, now holds the reins of Mall St. Vincent. Prior to this acquisition, the mall was owned by Kohan Retail Investment Group, which had purchased it in 2021. The Kohan group is known for acquiring distressed properties and has offloaded several malls to Summit in the past.

Despite the change in ownership, official documents related to this recent sale had not yet been filed with the Caddo Clerk of Court or Caddo Parish Tax Assessor’s offices at the time of the last report, indicating that the transaction may still be in the final processing stages.

Revitalization Efforts and Community Engagement

Summit Properties USA has outlined ambitions to attract new tenants and breathe new life into Mall St. Vincent. With the announcement of revitalization efforts, local business owners have expressed mixed feelings; however, there is a shared hope that increased engagement and a mix of activities could help lure shoppers back to the mall.

Plans for the mall’s redevelopment are already underway. New architectural renderings are expected to be revealed by January, providing a clearer vision of the upcoming renovations. Additionally, the LSU Health Foundation is expected to move into the former Sears space within the next two years, which could further draw traffic to the mall.

Background and Community Response

The city of Shreveport had previously supported Mall St. Vincent through a 20-year sales tax agreement aimed at maintaining the mall’s value, although this funding source ceased in 2019. Community members have been vocal about their anticipation for revitalization efforts, hoping that the changes will bring back foot traffic and interest in the shopping center.

As new plans unfold, local residents and business stakeholders will closely monitor Mall St. Vincent’s transformation, hoping it becomes a bustling center once again. The combination of a new ownership group, an impending medical facility, and modernized spaces could position Mall St. Vincent for a promising future in the Shreveport area.

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Additional Resources

Author: STAFF HERE SHREVEPORT WRITER

The SHREVEPORT STAFF WRITER represents the experienced team at HEREShreveport.com, your go-to source for actionable local news and information in Shreveport, Caddo Parish, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Mudbug Madness Festival, Red River Revel Arts Festival, and Independence Bowl. Our coverage extends to key organizations like the Shreveport-Bossier Chamber of Commerce and Shreveport Regional Arts Council, plus leading businesses in gaming, healthcare, and energy that power the local economy such as Horseshoe Casino, Ochsner LSU Health, and Atmos Energy. As part of the broader HERE network, including HEREBatonRouge.com and HERENewOrleans.com, we provide comprehensive, credible insights into Louisiana's dynamic landscape.

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STAFF HERE SHREVEPORT WRITER

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