Iowa mall redevelopment faces hurdle from long-standing JCPenney lease
Threshold Capital purchased the Valley West Mall in West Des Moines, Iowa for $11 million with plans for a mixed-use redevelopment. The project's progress is complicated by a 50-year-old lease held by anchor tenant JCPenney. City officials are considering up to $110 million in public funding to support the ambitious residential, retail, and entertainment complex. Construction is anticipated to begin after the city grants final approvals and site plans are completed.
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