Esplanade Mall in Kenner up for sale, acting mayor says

MarketsAssociated Press

For sale: One mall in the New Orleans suburbs.

The Advocate reports ( ) that Esplanade Mall in Kenner is on the market.

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Last week, Simon Property Group of Indianapolis handed management of the mall to California-based Pacific Retail. Kenner's acting mayor, Mike Sigur, says the new manager is working with investors on a possible purchase in the next few weeks.

Sigur declined to discuss a potential sale price or identify the investors. But he says the prospective owners intend to restore the mall "to its past glories."

The mall opened in 1984. Although it has been one of Kenner's biggest sources of tax revenue, the Esplanade has struggled to keep retailers.