In 2006, the last time Arkansas Business published a list of the largest shopping centers in the state, University Mall in Little Rock was still open and Pinnacle Hills Promenade in Rogers was the big new thing.
Pinnacle Hills is still the biggest thing — the largest shopping complex in the state at 1.1 million SF — but University Mall is long gone, replaced by Midtowne Little Rock. The 130,000-SF Midtowne just missed making the top 25 included in this week’s newly researched list.
More: Get the full list here.
The ensuing years brought developments that are now well-established, like The Promenade at Chenal, which opened in 2008 and ranks 11th on the list, and No. 16 Fort Smith Pavilion, which opened the same year.
Old-fashioned malls still show up prominently on the list — Nos. 2 through 6, plus No. 8 — but only No. 5 The Mall at Turtle Creek in Jonesboro was built in this millennium. Park Plaza dates to 1959, although it has been repeatedly renovated, most recently in 2007.
Instead, shopping centers connected by sidewalks and parking instead of concourses are standard. Lakewood Village in North Little Rock, still No. 9 on the list, pioneered the concept in 1985, when enclosed malls were still the rage.
One constant over the years is Dillard’s Inc., the publicly traded retailer based in Little Rock. Its department stores continue to anchor seven of the top eight developments.
The largest center without a Dillard’s store is the newest on the list: Gateway Town Center. Its anchor, the long-awaited Bass Pro Shops, opened just in time for Christmas 2014, and its 325,000-SF Outlets of Little Rock component opened to great fanfare in October. At the time, Michael Barelli, the vice president of New England Development of Newton, Massachusetts, projected that the 75 stores ultimately planned for the Outlets would employ 800 to 1,000 people year-round and generate $100 million in annual revenue.