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The Galleria Is Not Closing, Despite Rumors

Business

Galleria Dallas. An upscale shopping mall located in north Dallas, Texas. People are shopping. | Image by aphotostory, Shutterstock

Despite viral rumors online, the Galleria Dallas is not closing.

On Tuesday, the Galleria Dallas general manager, Angie Freed, stated on the mall’s Facebook page. The statement directly responded to rumors that the mall was closing down.

The Galleria has been open since 1982. Last week the ownership of Galleria Dallas transferred to MetLife Insurance. MetLife Insurance has also taken ownership of the Westin Galleria Hotel.

UBS Realty Investors, a global investor, had owned the mall since 2002. They paid about $300 million for the mall and $95 million for the Westin Hotel.

Recent social media rumors claimed that the mall would be torn down after the change of ownership. Apartment buildings were supposedly going to be put up in its place.

The rumors quickly spread online and went viral. In response to the false information, Freed released the statement to set the record straight.

“While the addition of multi-residential development to Galleria Dallas has been considered as one component of a potential long-term redevelopment project, the mall, along with its retail, dining, and experiential entertainment features, is and will be the core of this Dallas destination,” Freed said.

The Preston Hollow Advocate reported there was potential for redevelopment plans and additions under the Galleria’s new ownership. More apartments and hotel space could be added to the area.

“The shopping experience the consumer is looking for has continued to evolve,” CEO of The Retail Connection Steve Lieberman told the paper. “That requires a reconfiguration for these large mall properties.”

The Galleria Dallas has been a shopping terminus since it opened in 1982 and a festive destination for shoppers and visitors looking to skate at the indoor ice-skating rink.

It houses the nation’s tallest indoor Christmas tree as well as more than 140 stores and other services. The Galleria is located at the intersection of the Dallas North Tollway and Interstate 635.

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