Sacramento's Downtown Plaza is losing another significant tenant: The Gap and its neighboring Gap Kids are leaving the troubled mall.
Edie Kissko, a spokeswoman for parent company Gap Inc., said today the store is closing this month. She said in a prepared statement that the closure is part of a "long-term real estate strategy" that's been underway since 2007.
She said the Downtown Plaza location is one of several that are closing this month as the San Francisco retailer winds down the long-term strategy.
The mall has been plagued by high vacancy rates for years and was sold for just $22 million last summer to JMA Ventures of San Francisco.
The mall could wind up being turned into an NBA arena. JMA said Saturday it is considering teaming up with an investor group that's interested in bidding for the Sacramento Kings, who are in negotiations to sell to a group from Seattle