2017-01-22 — fansided.com
The reason? As explained by money, it's that the mall simply hasn't done well. Though the Galleria isn't even 15 years old, it's never performed to expectations, and the changing patterns of the surrounding populace plus the overall trend away from mall shopping in many areas combined to spell its doom.
Analysts suggest that it's simply too large for the area it serves, and while it still has anchors like Macy's and Dick's Sporting Goods, the Galleria is almost half empty. Without getting into technical jargon, the mall wasn't truly open to outside bids, as Wells Fargo Bank more or less bought the mall from itself after foreclosing on it two years ago.
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