Ashland Town Center
An enclosed regional shopping mall in Ashland, Kentucky, serving the surrounding northeastern Kentucky market.
Last updated August 26, 2026
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Overview
Ashland Town Center is an enclosed shopping mall in Ashland, Kentucky, located near downtown along U.S. Highway 23. It is one of two malls serving the city and functions as a regional retail and dining destination for Ashland and nearby communities in northeastern Kentucky. The property contains more than seventy retailers and restaurants, together with a food court and a combination of department-store anchors, junior anchors, specialty retailers, and restaurants. The mall was developed in 1988 through a joint venture involving Glimcher Realty Trust, Edward J. DeBartolo Corporation, and Crown American. It opened in 1989 with Walmart, JCPenney, and Hess's as its principal anchors. Goody's was subsequently added as another anchor. The original tenant mix reflected the traditional enclosed-mall model of the late 1980s, with department stores drawing traffic to a broad selection of apparel, general merchandise, and specialty shops. Ashland Town Center underwent substantial physical and tenant changes during the 2000s. Walmart left the mall in 2005 after moving to a freestanding Supercenter outside the property. The former Walmart building was demolished in 2008, and a much larger JCPenney store was built in its place. The replacement was one of JCPenney's prototype stores in the United States and opened in August 2008. The previous JCPenney space was later reused in part for a Belk men's and home-format store. The 2008–2009 renovation program also modified the mall's common areas and circulation. The food court was reduced in size to create additional retail space, a family restroom was added, existing men's and women's restrooms were remodeled, and several tenants were repositioned to support the new JCPenney corridor. Former department-store space and adjacent specialty-retail locations continued to change as national chains and local businesses adjusted their presence at the property. Anchor succession was another important part of the mall's evolution. Hess's locations were sold to Proffitt's in 1993, and Proffitt's stores were later acquired by Belk in 2006. Goody's was replaced by TJ Maxx in 2010, while other additions during that period included Rax, Panera Bread, and The Children's Place. A Cheddar's Casual Café was constructed near the JCPenney side of the parking area, and Slim Chickens opened at the property in 2018. Five Below later occupied space that had previously been associated with Hibbett Sports. More recent additions have broadened the property beyond conventional apparel and department-store retail. EarthWise Pet, a local pet nutrition and wellness spa, opened near the food court and TJ Maxx in 2022. Olive Garden opened in May 2023 in the former Kentucky Hall of Fame Cafe location. Current major anchors and junior anchors include JCPenney, TJ Maxx, two Belk stores, Ulta Beauty, Kay Jewelers, Aspen Dental, and Five Below. CBL Properties manages the mall. In July 2025, CBL announced the completion of its purchase of Ashland Town Center and three other malls from Washington Prime Group, making the property part of CBL's mall portfolio.
History
Ashland Town Center was developed in 1988 as a joint venture of Glimcher Realty Trust, Edward J. DeBartolo Corporation, and Crown American. The enclosed mall opened in 1989 in Ashland, Kentucky, near downtown and along U.S. Highway 23. Its initial anchor lineup consisted of Walmart, JCPenney, and Hess's, with Goody's added later. The mall was designed according to the conventional regional-mall model of the period, using department stores and a central enclosed retail environment to attract shoppers from Ashland and neighboring communities. During the 1990s, the property changed relatively little. Its department-store history nevertheless followed broader retail-industry consolidation. In 1993, Hess's sold several stores to Proffitt's. Proffitt's later transferred its store portfolio to Belk in 2006, establishing Belk as a continuing anchor presence at Ashland Town Center. The mall entered a major redevelopment phase after Walmart vacated its anchor space in 2005 to relocate to a new freestanding Supercenter outside the mall. Rather than retain the old building, the former Walmart space was demolished in early 2008. A new JCPenney store was constructed on the site and opened in August 2008. It was twice the size of the prior JCPenney location and was identified as one of three JCPenney prototype stores in the United States. The original JCPenney building was then vacated, with part of it converted into a Belk men's and home store in 2009. The 2008–2009 work extended beyond anchor replacement. The food court was reduced to create more room for retail, a family restroom was added, and the existing men's and women's restrooms were renovated. Other tenants were moved to improve the layout and create additional space along the JCPenney corridor. The changes represented an effort to modernize the property while adapting its footprint to changing department-store requirements. Tenant turnover continued after the renovation. The former Goody's anchor was replaced by TJ Maxx in 2010. That year also brought new or relocated stores including Rax, Panera Bread, and The Children's Place. The former Belk men's location in the Belk wing became a Hibbett Sports store in late 2009 and was later occupied by Five Below, reported as the tenant in that space by 2020. Restaurants also became increasingly important to the property's overall offer. Cheddar's Casual Café was built near JCPenney in the parking area, and Slim Chickens opened in 2018. In the 2020s, the mall added uses beyond traditional fashion and department-store retail. EarthWise Pet opened in 2022 near the food court and TJ Maxx, offering pet nutrition and wellness services. Olive Garden opened in May 2023 in the former Kentucky Hall of Fame Cafe location. The resulting tenant mix combined department stores, off-price retail, beauty, jewelry, dentistry, discount merchandise, pet services, and casual dining. The property's ownership and management also changed over time. It was originally owned through the development partnership led by Glimcher Realty Trust and associated partners, and it was later managed by CBL Properties. On July 30, 2025, CBL Properties announced that it had completed the acquisition of Ashland Town Center and three other malls from Washington Prime Group. The transaction placed the property within CBL's mall portfolio while preserving its role as an active enclosed shopping center serving Ashland and the surrounding region.
- 2025
CBL Properties completes acquisition
[1]CBL Properties announced completion of its purchase of Ashland Town Center and three other malls from Washington Prime Group.
- 2023
Olive Garden opens
[1]Olive Garden opened in May in the former Kentucky Hall of Fame Cafe space.
- 2022
EarthWise Pet opens
[1]EarthWise Pet opened near the food court and TJ Maxx, adding pet retail and wellness services.
- 2018
Slim Chickens opens
[1]Slim Chickens joined the property's restaurant mix.
- 2010
TJ Maxx replaces Goody's
[1]TJ Maxx took over the former Goody's anchor location; additional stores including Rax, Panera Bread, and The Children's Place also opened.
- 2009
Renovation and tenant repositioning
[1]The mall remodeled restrooms, added a family restroom, resized the food court, repositioned tenants, and converted part of the former JCPenney space for Belk.
- 2008
New JCPenney construction begins
[1]The former Walmart building was demolished and construction began on a substantially larger JCPenney prototype store.
- 2008
Replacement JCPenney opens
[1]The new JCPenney store opened in August, occupying the former Walmart site and offering approximately twice the area of the previous store.
- 2006
Belk acquires Proffitt's stores
[1]Belk acquired the relevant Proffitt's store operations, continuing the department-store presence associated with the former Hess's location.
- 2005
Walmart leaves the mall
[1]Walmart vacated its mall anchor after opening a freestanding Supercenter outside the property.
Products and positioning
A traditional enclosed regional shopping mall combining department stores, off-price retail, specialty shops, personal services, and restaurant offerings for Ashland and surrounding communities.
Department store · 1989
JCPenney
JCPenney is a principal anchor at Ashland Town Center. The current store opened in August 2008 on the site of the former Walmart anchor and was built as one of the retailer's prototype stores. It is approximately twice the size of the mall's former JCPenney location and provides department-store apparel, accessories, home merchandise, and related services.
Department store · 2006
Belk
Belk operates two anchor stores at Ashland Town Center. Its presence developed from the former Hess's and Proffitt's department-store lineage, with Belk acquiring the relevant Proffitt's stores in 2006. The mall has included a Belk men's and home-format store created from part of the former JCPenney space, alongside the main Belk presence.
Off-price retailer · 2010
TJ Maxx
TJ Maxx occupies the former Goody's anchor position and became part of the mall's anchor lineup in 2010. Its off-price model adds discounted apparel, accessories, home goods, and seasonal merchandise to the center's department-store and specialty-retail mix.
Beauty retailer
Ulta Beauty
Ulta Beauty is a junior anchor offering cosmetics, skincare, haircare, fragrance, beauty tools, and salon-related services. Its presence supports the mall's specialty-retail and personal-care categories.
Value retailer · 2020
Five Below
Five Below occupies space that was previously associated with Hibbett Sports in the Belk wing. The retailer focuses on low-priced lifestyle goods, toys, games, accessories, technology items, and seasonal products aimed especially at younger shoppers and families.
Jewelry retailer
Kay Jewelers
Kay Jewelers is a junior anchor and specialty jewelry tenant offering jewelry, watches, engagement and wedding products, and related services such as repairs and customization.
Dental services
Aspen Dental
Aspen Dental represents the mall's service-oriented junior-anchor category. Its dental practice adds health and personal services to a tenant mix otherwise centered on retail and dining.
Pet retail and wellness · 2022
EarthWise Pet
EarthWise Pet is a local pet nutrition and wellness spa that opened near the food court and TJ Maxx in 2022. It extends the mall's offer into specialty pet products and service-based retail.
Casual dining restaurant · 2023
Olive Garden
Olive Garden opened in May 2023 in the former Kentucky Hall of Fame Cafe location. The restaurant adds a national full-service dining concept to the center's broader restaurant and parking-lot development.
Brand decisions
2025
CBL Properties acquires Ashland Town CenterM&ABackground
Washington Prime Group owned the mall before the announced portfolio transaction.
Action taken
CBL Properties completed the purchase of Ashland Town Center as part of a four-mall acquisition from Washington Prime Group.
Aftermath
Ashland Town Center became part of CBL Properties' mall portfolio, with CBL continuing as the property's manager.
2010
Replace Goody's with TJ MaxxStrategyBackground
The mall needed to fill the anchor position vacated by Goody's.
Action taken
TJ Maxx took over the former Goody's anchor location.
Aftermath
The change shifted the space toward the off-price retail segment and reinforced the mall's revised anchor mix.
2008
Modernize the mall layout and amenitiesGeneration changeBackground
The new JCPenney project required changes to circulation, common areas, and adjacent tenant space.
Action taken
The mall reduced the food court, added a family restroom, remodeled existing restrooms, and repositioned tenants along the JCPenney corridor.
Aftermath
The renovation created additional retail space and updated the customer facilities while supporting the new anchor configuration.
2005
Redevelop the former Walmart anchorStrategyBackground
Walmart left the enclosed mall after opening a new Supercenter outside the property, leaving a major anchor vacancy.
Action taken
The former Walmart space was demolished and replaced with a substantially larger JCPenney store.
Aftermath
The replacement store opened in August 2008, while the former JCPenney space was subsequently adapted for Belk and other uses.
Recent events
- 2025
CBL Properties completes purchase of Ashland Town Center from Washington Prime Group[1]
M&A
CBL Properties announced that it had completed the acquisition of Ashland Town Center along with three other malls previously associated with Washington Prime Group. The transaction added the Ashland property to CBL's managed and owned mall portfolio.
- 2023
Olive Garden opens at Ashland Town Center[1]
Product launch
Olive Garden opened in May 2023 in the former Kentucky Hall of Fame Cafe space, expanding the mall's restaurant offering.
- 2022
EarthWise Pet joins Ashland Town Center tenant mix[1]
Product launch
EarthWise Pet, a local pet nutrition and wellness spa, opened near the mall's food court and TJ Maxx.
- 2018
Slim Chickens opens at Ashland Town Center[1]
Product launch
Slim Chickens opened at the property, adding a national fast-casual restaurant to the mall's surrounding dining offer.
Sources2 sources
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