Brookfield Properties pulls off a last-minute save, plans entertainment center expansion
MESQUITE, Texas — Read this story and more North Texas business news from our content partners at the Dallas Business Journal.
An aging but popular mall in Mesquite has been saved from the auction block.
Town East Mall was previously listed to appear in a foreclosure auction on June 3 at the George Allen Courts Building in Dallas. Dallas County deed records indicated that mall owner Brookfield Properties was facing foreclosure on a nearly $160.3 million loan.
A spokesperson for Brookfield confirmed to the Dallas Business Journal on May 29 that it resolved the issue with the loan and that the foreclosure will be pulled before next week. The company plans to own and operate the mall for the foreseeable future, the spokesperson said.
Big changes are on the way for Town East. The Mesquite City Council recently approved a rezoning that would help repurpose a long-empty Sears space into a Main Event entertainment center. The 58,000-square-foot facility is expected to include escape rooms, bowling alleys and arcade games.