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London Square Mall Undergoing Transformation

EAU CLAIRE, WI-Lehman Bros. and Pacific Coast Capital Partners have paid $8 million for the former shopping mall and plan to spend an additional $6 million to convert it to a business park.

By Jim McCartney | Updated on November 29, 2001

EAU CLAIRE, WI-Lehman Brothers and Pacific Coast Capital Partners have paid $8 million to buy the London Square Mall and are pursuing plans to transform it into a business park. The 535,000 sf mall will be transformed gradually as new tenants move into it.

However, the owners are spending about $6 million on capital improvements that include painting the exterior of the building, installing a new sign in front of the building and a landscaping program planned to start in spring 2002. The management is also looking torenovate three separate entrances into the facility.

The property owners, Lehman Brothers Holdings of New York and Pacific Coast Capital Partners of California, bought the building out of bankruptcy in 2000. The London Square Mall was the first mall in Eau Claire, and was once anchored by Sears and Younker’s, which will be the last tenant to vacate in spring 2002. A cinema is located on mall property but is not attached to the mall and will remain.

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