Aviation Mall

Aviation Mall is a regional shopping center in Glens Falls North, New York. The enclosed mall serves communities around Glens Falls and Lake George, as well as the extreme northern portion of the Capital District and the broader Albany metropolitan area. It has approximately 630,000 square feet of gross leasable area and combines department stores, discount retail, sporting-goods retail, entertainment, fitness, dining, and specialty tenants. The mall opened in 1975 with JCPenney and Denby's, a regional department-store chain, as its original anchor tenants. It began as a relatively modest center but expanded over time as larger national department-store operators joined the tenant mix. Sears was added during an early expansion, followed by Caldor. The mall’s later history reflects the wider transformation of American enclosed malls: traditional department stores closed or were replaced, while value retail, entertainment, fitness, and experience-oriented businesses took on a larger role. Several important tenant changes occurred in the 1990s and 2000s. In 1994, JCPenney constructed a new store beside its original location, allowing the former space to be redesigned for smaller shops. TJ Maxx also arrived in 1994, replacing space formerly occupied by Magrams. After Caldor closed in 1998, its location was converted for The Bon-Ton. Target opened at the mall in 2004, and Dick’s Sporting Goods moved into the remaining portion of the original JCPenney space in 2005. Entertainment became a more visible component of the property in 2017, when Regal Cinemas expanded its theater from seven screens to nine. The renovation included updated flooring and wall coverings and the installation of reclining seats. Later changes demonstrated the pressure facing conventional department stores. The Bon-Ton closed after the retailer entered liquidation proceedings in 2018, and the former store was subsequently taken by Ollie’s Bargain Outlet, which opened in 2019. Sears announced its closure in 2018, leaving a large vacant anchor space that remained a subject of replacement-tenant discussions for several years. In the mid-2020s, the property underwent a change in management and ownership. Pyramid Management Group defaulted on loans in July 2024, after which The Woodmont Company was appointed by the court to manage the mall. Concord Capital New York acquired Aviation Mall at auction on September 10, 2025, for $21 million, according to the referenced account. On November 12, 2025, the former Sears building was repositioned as ADK Karting, an entertainment venue with go-karting, an arcade, glow mini-golf, and the attached Paddock 578 bar and grill. The current tenant and attraction mix includes JCPenney, Dick’s Sporting Goods, Target, Ollie’s Bargain Outlet, ADK Karting, a nine-screen Regal Cinemas, and Planet Fitness. Aviation Mall therefore operates not only as a conventional retail center but also as a multi-purpose regional destination whose relevance depends on a combination of shopping, entertainment, fitness, and food-and-beverage uses.

Aviation Mall opened in 1975 in Glens Falls North, New York, to serve the expanding retail needs of the Glens Falls, Lake George, and northern Capital District markets. Its initial anchor tenants were JCPenney and Denby's, a regional department-store chain. The center was comparatively small at opening but developed through successive expansions and anchor changes. Sears joined the property during an early expansion, followed later by Caldor. The mall continued to alter its configuration as department-store formats evolved. In 1994, JCPenney built a new store next to its original location. Management then redeveloped the former JCPenney premises into additional small-shop space. That same year, TJ Maxx replaced space previously occupied by Magrams, strengthening the center’s off-price and value-retail offer. Caldor closed in 1998, and its former location was converted for The Bon-Ton. Target expanded the mall’s general-merchandise offer when it opened in 2004. In 2005, Dick’s Sporting Goods moved into the remaining portion of the original JCPenney space. These changes produced a more varied tenant base and reduced the property’s dependence on traditional department stores. The mall also invested in entertainment. In 2017, Regal Cinemas expanded from seven screens to nine and received an interior upgrade that included new flooring, wall coverings, and reclining seats. The project reflected the growing importance of experiential uses in shopping centers facing competition from online retail and changing consumer habits. The late 2010s brought further anchor disruption. On April 17, 2018, The Bon-Ton was reported to be closing after it could not establish new conditions to address its long-term debt. The former Bon-Ton space was later designated for Ollie’s Bargain Outlet, which opened on August 28, 2019. Sears announced on August 22, 2018, that it would close its Aviation Mall location as part of its broader withdrawal from physical retail. The resulting vacant anchor became the subject of replacement-tenant discussions from 2019 onward. By the early 2020s, Aviation Mall’s role increasingly combined conventional shopping with entertainment, fitness, value retail, and food service. Its listed major tenants and attractions included JCPenney, Dick’s Sporting Goods, Target, Ollie’s Bargain Outlet, Regal Cinemas, Planet Fitness, and ADK Karting. Ownership and management changed during the mid-2020s. Pyramid Management Group defaulted on loans in July 2024, and The Woodmont Company was appointed by the court to manage the property. Concord Capital New York bought Aviation Mall at auction on September 10, 2025, for $21 million. The former Sears building was subsequently redeveloped for ADK Karting, which opened on November 12, 2025. The new venue added go-karting, an arcade, glow mini-golf, and the Paddock 578 bar and grill, giving the former anchor space an experience-led use.

• 2025

  Ownership changes and ADK Karting opens

  [1]Aviation Mallen.wikipedia.org

  Concord Capital New York acquires the mall at auction on September 10, and ADK Karting opens in the former Sears building on November 12.

• 2024

  Court-appointed management follows loan default

  [1]Aviation Mallen.wikipedia.org

  Following Pyramid Management Group’s loan default, The Woodmont Company is appointed by the court to manage the mall.

• 2019

  Ollie's Bargain Outlet opens

  [1]Aviation Mallen.wikipedia.org

  Ollie’s Bargain Outlet opens in the former Bon-Ton location on August 28.

• 2017

  Regal Cinemas expands and renovates

  [1]Aviation Mallen.wikipedia.org

  The cinema expands from seven to nine screens and adds upgraded finishes and reclining seating.

• 2005

  Dick's Sporting Goods relocates into former JCPenney space

  [1]Aviation Mallen.wikipedia.org

  Dick’s Sporting Goods occupies the remaining portion of the original JCPenney location.

• 2004

  Target opens

  [1]Aviation Mallen.wikipedia.org

  Target joins Aviation Mall as a major general-merchandise anchor.

• 1998

  Caldor location becomes The Bon-Ton

  [1]Aviation Mallen.wikipedia.org

  After Caldor closes, its former anchor space is converted for The Bon-Ton.

• 1994

  JCPenney and TJ Maxx changes reshape the mall

  [1]Aviation Mallen.wikipedia.org

  JCPenney opens a new adjacent store and its former premises are redesigned for smaller shops. TJ Maxx also replaces space formerly occupied by Magrams.

• 1975

  Aviation Mall opens

  [1]Aviation Mallen.wikipedia.org

  The mall opens in Glens Falls North with JCPenney and Denby's as its initial anchor tenants.

A regional enclosed shopping and entertainment destination serving the northern Capital District and the Glens Falls–Lake George market, with a tenant mix spanning value retail, department stores, sporting goods, cinema, fitness, and family entertainment.

• Retail property · 1975

  Regional shopping center

  Aviation Mall is an approximately 630,000-square-foot enclosed regional shopping center. Its tenant offer combines department stores, discount retail, general merchandise, sporting goods, entertainment, fitness, and food-and-beverage uses for consumers in the Glens Falls, Lake George, and northern Capital District markets.

• Cinema · 2017

  Regal Cinemas

  The mall’s Regal Cinemas location provides a nine-screen movie theater. In 2017, the theater expanded from seven screens and received upgrades including new interior finishes and reclining seats.

• Entertainment venue · 2025

  ADK Karting

  ADK Karting occupies the former Sears building and offers indoor go-karting alongside an arcade and glow mini-golf course. The venue is connected with the Paddock 578 bar and grill, creating an entertainment and dining destination within the former department-store anchor.

• 2025

  Auction sale to Concord Capital New YorkM&A

  Background

  The ownership transition followed Pyramid Management Group’s loan default and court-appointed management by The Woodmont Company.

  Action taken

  Concord Capital New York purchased Aviation Mall at auction on September 10, 2025, for $21 million.

  Aftermath

  The transaction placed the property under new ownership during a period of tenant repositioning and redevelopment.

  Auction purchase price. $21 million (September 10, 2025)

  Source

• 2025

  Former Sears anchor converted to ADK KartingStrategy

  Background

  The Sears store closed as part of the retailer’s broader withdrawal from physical stores, leaving a large vacant anchor building.

  Action taken

  The former Sears building was redeveloped for ADK Karting, including go-karting, an arcade, glow mini-golf, and the Paddock 578 bar and grill.

  Aftermath

  The redevelopment introduced a large-scale entertainment and dining use in place of a traditional department store.

  Source

• 2019

  Replacement of The Bon-Ton with Ollie's Bargain OutletStrategy

  Background

  The Bon-Ton’s closure left a large department-store vacancy after the retailer’s debt difficulties and liquidation.

  Action taken

  The former Bon-Ton space was assigned to Ollie’s Bargain Outlet, which opened on August 28, 2019.

  Aftermath

  The replacement shifted the anchor space toward discount and closeout retail.

  Source

• 2017

  Regal Cinemas expansion and modernizationProduct launch

  Background

  The mall sought to strengthen entertainment offerings as shopping centers faced increasing pressure from online retail and changing consumer behavior.

  Action taken

  Regal expanded its theater from seven to nine screens and added new finishes and reclining seats.

  Aftermath

  The cinema became a larger experiential component of Aviation Mall’s tenant mix.

  Source

1. 1Aviation Mallen.wikipedia.org
2. 2Official Aviation Mall websiteshopaviationmall.com