This new development is quite frankly, baffling.
Say you owned a mall built in the 1950’s, that had seen better days. Much better days. Say almost all your national brand retailers had left years ago, and the entire second floor was now being leased to government agencies and other office uses. Say your biggest anchor, one of only two, went bankrupt and liquidated in 2009, and nobody has expressed serious interest in the location yet. And your other anchor, is Sears, a brand that has fallen on tough times.
In fact, your mall is in so much trouble, someone even took it upon themselves to visit it only to write about how it is a dying mall. And that was even written before Gottschalks died. (Lots of pictures of the mall in that link).