‘Best is Yet to Come’: Struggling Gateway is Sold, Eyes Entertainment-Focused Future

by Tony Semerad

Salt Lake City, UT – The Gateway mall in Salt Lake City is changing hands.

After months of negotiations, the Phoenix-based owner of nearly 50 open-air retail properties in Arizona, California, Texas and adjacent states moved Monday to complete its purchase of The Gateway’s 623,205 square feet of retail space.

Vestar’s acquisition has the potential to further remake the ailing mall on the western fringe of downtown into an entertainment-focused destination, coupled with marketing aimed at attracting young adults known as millennials.

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