Usually the word “closed” isn’t a good thing when used in conjunction with a shopping center, but in the case of Mayberry Mall it refers to the best-possible news.
A long-awaited deal involving the sale of the troubled mall to a South Carolina real estate firm has closed, it was announced Wednesday, signaling a bright future for the 50-year-old facility on U.S. 52-North in Mount Airy. It had been threatened with closure in February of last year due to ongoing structural deficiencies.
“There have been a lot of prayers answered this morning,” said Lisa Ring, the longtime owner of a Hallmark store at the mall who has weathered turmoil there in recent months while managing to stay in business.
“To me, it’s a blessing to Mount Airy — not just the people employed here,” Ring added Wednesday of the mall changing hands, “but people need places to shop.”
The Hallmark store owner’s view was shared by patrons of the mall Wednesday as the news of the sale circulated, including Sandy Bowman, a local resident who was there with her sister and a friend from church.
“I hate to think of this town without a mall,” Bowman said as the trio exited a Shoe Department store there. “We didn’t want to lose the mall.”
An official announcement of the transaction came Wednesday from WRS Inc. Real Estate Investments, a firm in Mount Pleasant, South Carolina, which had been involved in negotiations for the purchase for more than a year. The sale was expected to close in early January, but was delayed by paperwork issues.
The announcement by Taylor Massey of WRS said it was “pleased” to acquire Mayberry Mall from Kohan Retail Investment Group based in Great Neck, New York. This does not include a free-standing and separately owned Belk department store that anchors the mall.
Originally completed in 1968, the shopping center totals 207,542 square feet and is the only enclosed regional mall within a 30-mile radius, Massey mentioned.
The facility fell on hard times over the past couple of years due to problems including a leaky roof that compromised the structural integrity of the building. This also posed an environmental risk to occupants including the presence of mold.
Surry County and Mount Airy officials were faced with mitigating the public health and safety threats presented by the mall which came to a head in late 2017, leading to an order that it be closed to the public on Feb. 1, 2018.
Around that same time, T. Scott Smith, the president of WRS, attended a meeting of the city to express his interest in buying the mall. After a number of hurdles over the past year, this has occurred.
Optimistic about future
It could be argued that the acquisition by WRS has come in the nick of time, since only about five businesses continue to occupy the mall, compared to 17 in August 2017. The departures have included that of a JC Penney store that operated for many decades in Mount Airy.
Now that the sale is complete, the tasks of renovating the facility and seeking new tenants for it remain — with WRS appearing to be on top of both.
Massey, the WRS representative, referred to that in Wednesday’s announcement.
“WRS Inc. is excited to redevelop the Mayberry Mall with uses and new retailers that will benefit the community and existing businesses,” Massey assured. “Construction and leasing initiatives will begin immediately.”
“They’ve got a lot of good people lined up,” Ring, the Hallmark owner, said she has been told regarding plans for new occupants, although none were identified.
A city official who has closely monitored the situation at the mall also is optimistic about additional businesses being drawn there.
“I think it’s going to be an opportunity not only for large businesses (national retailers), but local ones,” Commissioner Jim Armbrister said Wednesday. “I’m excited — I think Mr. Smith is going to be exactly what we need.”
Ring said she has been told by WRS that the needed renovations probably will be completed within six months to a year.
City Attorney Hugh Campbell said the buyer advised him that a final construction meeting will be held with his contractor next week.
“Within the next year or two, I think we’re going to see some new developments out there we’ll all be proud of,” Armbrister predicted.
“I’m just pleased — it’s been a long time,” he said of the successful sale outcome and the ordeal leading up to that.
“Kept their faith”
The merchants who have outlasted the crisis are to be commended for their perseverance, according to Armbrister — “those people that have hung in there and kept their faith and held their investments,” he said. “Those people have really struggled to stay there.”
Armbrister was encouraged when the Belk chain completed a major renovation of its store at the mall in 2017, which he said reflected its strong belief in the center’s long-term viability. “That was a huge vote of confidence.”
Ring also credited Commissioner Armbrister with keeping mall tenants updated on developments regarding the property and being a positive force throughout. “I’m very grateful to that man.”
The Hallmark owner further praised the loyalty of mall shoppers.
“My customers have been great support,” Ring said. “I definitely want to thank the public.”
A note of good cheer also was offered by a Cleveland lawyer representing the mall seller, Kohan Retail Investment Group, in an email to Campbell, the city attorney.
“I hope better days are ahead for Mayberry Mall and Mount Airy,” Robert A. Fuerst wrote.

