Uptown Christiansburg
Uptown Christiansburg, formerly New River Valley Mall, is an enclosed shopping center in Christiansburg, Virginia.
Last updated August 26, 2026
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Overview
Uptown Christiansburg is an enclosed shopping mall in Christiansburg, Virginia, serving the New River Valley region. The property opened in 1988 as New River Valley Mall and was developed by Crown American. Its original anchor lineup included Hess's, J. C. Penney, Sears, and Leggett, the latter of which later became part of Belk. The center experienced prolonged vacancy and occupancy challenges during the 1990s, reportedly operating at approximately 75 percent occupancy for much of that decade. Most of Crown American's portfolio was later acquired by PREIT, which undertook a series of renovations and tenant changes during the 2000s and 2010s. These improvements included expanding the Belk store, adding a Dick's Sporting Goods location, and reusing the former Hess's and adjacent cinema-related space. A vacant movie theater was converted into a food court and a satellite campus for New River Community College, broadening the center's functions beyond conventional retail. The mall's anchor composition changed substantially after Sears closed in 2014. Kohl's replaced Sears in 2015. Following J. C. Penney's closure in 2017, the former department-store space was reconfigured for Ulta, HomeGoods, and Kirkland's. Planet Fitness also announced plans in 2018 to open in the Kohl's wing. These changes reflected the wider repositioning of enclosed malls toward discount, off-price, fitness, sporting-goods, beauty, and experiential or community-oriented uses. Ownership changed several times in the property's later history. Farallon Capital Management acquired the mall from PREIT in 2016 and appointed CBL & Associates Properties to manage it. Farallon subsequently sold the property to RockStep Capital for a reported $21.6 million in fall 2019. In July 2020, the center adopted the name Uptown Christiansburg, replacing the New River Valley Mall identity. The renamed property continues to operate as a regional shopping and service destination, with major tenants including Kohl's, Belk, HomeGoods, and Dick's Sporting Goods. The available reference material does not establish a separate corporate brand structure, public listing, or independently reported executive team for the property.
History
Uptown Christiansburg began as New River Valley Mall, an enclosed regional shopping center that opened in Christiansburg, Virginia, in 1988. Crown American developed the property, which initially relied on a conventional department-store anchor model. Hess's, J. C. Penney, Sears, and Leggett occupied the principal anchor positions, with Leggett later becoming Belk. The center faced a difficult operating environment during the 1990s. The available account states that it remained at roughly 75 percent occupancy for much of that decade, indicating sustained vacancy pressure and a need to refresh the tenant mix. A major ownership transition occurred when PREIT acquired most of Crown American's portfolio. Under PREIT, the mall underwent renovations and broader repositioning during the 21st century. The improvements included an expansion of the Belk space and the introduction of a Dick's Sporting Goods store. Dick's replaced Peebles, which had been operating in the former Hess's location. The property also adapted non-retail space: a vacant movie theater was converted into a food court and a satellite campus for New River Community College. These projects gave the center additional dining, educational, and community functions while helping reuse underperforming portions of the complex. Anchor turnover continued in the 2010s. Sears closed in 2014, and Kohl's replaced it the following year. J. C. Penney closed in 2017. Its former space was renovated to accommodate Ulta, HomeGoods, and Kirkland's, replacing a single traditional department-store use with several specialty and off-price tenants. In 2018, Planet Fitness announced that it would open in the Kohl's wing, further expanding the property's service and fitness offering. Farallon Capital Management acquired the mall from PREIT in 2016 and selected CBL & Associates Properties as manager. Farallon later sold the property to RockStep Capital in fall 2019 in a transaction reported at $21.6 million. In July 2020, New River Valley Mall was renamed Uptown Christiansburg. The new name marked the property's shift away from its original regional-mall identity and toward a broader shopping, dining, fitness, educational, and service destination. The center's current major anchors are reported as Kohl's, Belk, HomeGoods, and Dick's Sporting Goods. Other referenced occupants and uses include Ulta, Planet Fitness, a food court, and the New River Community College satellite campus. The available material does not document a founding individual, a public-company listing, a separate operating corporation, or a detailed executive history for the property.
- 2026
Kirkland's closes
[1]The reference material reports that Kirkland's closed at the center.
- 2020
Property renamed Uptown Christiansburg
[1]The former New River Valley Mall adopts the Uptown Christiansburg name in July.
- 2019
RockStep Capital purchases the mall
[1]RockStep Capital acquires the property from Farallon Capital Management for a reported $21.6 million.
- 2018
Planet Fitness announces a new location
[1]Planet Fitness announces plans for a facility in the Kohl's wing.
- 2017
J. C. Penney closes
[1]J. C. Penney vacates its store, and the space is subsequently reconfigured for Ulta, HomeGoods, and Kirkland's.
- 2016
Farallon Capital Management acquires the property
[1]Farallon purchases the mall from PREIT and appoints CBL & Associates Properties as manager.
- 2015
Kohl's opens in the former Sears space
[1]Kohl's takes over the former Sears location.
- 2014
Sears closes
[1]Sears leaves the shopping center.
- 2000
PREIT-led renovation era begins
[1]After PREIT acquires most of Crown American's portfolio, it renovates and repositions the center over the following years.
- 1990
Occupancy challenges characterize the 1990s
[1]The mall reportedly operates at approximately 75 percent occupancy for much of the decade.
Products and positioning
A regional enclosed shopping and services center serving Christiansburg and the wider New River Valley, with a tenant mix combining department stores, off-price home retail, sporting goods, beauty, fitness, dining, and community uses.
Department store
Belk
Belk is one of the property's principal department-store anchors. The store originated as Leggett, part of the original anchor lineup, and its space was expanded during later renovation work.
Department store · 2015
Kohl's
Kohl's occupies the former Sears anchor location. Its arrival followed Sears' 2014 closure and became a significant part of the mall's updated department-store mix.
Home furnishings
HomeGoods
HomeGoods is an off-price home-furnishings tenant introduced in the renovated former J. C. Penney space, alongside Ulta and Kirkland's.
Sporting goods
Dick's Sporting Goods
Dick's Sporting Goods occupies a major retail position at the center and replaced Peebles, which had been operating in the former Hess's space.
Beauty retail
Ulta
Ulta was added during the redevelopment of the former J. C. Penney space, contributing beauty products and services to the center's more diversified tenant mix.
Fitness · 2018
Planet Fitness
Planet Fitness announced plans for a location in the Kohl's wing, representing the property's expansion into recurring service and fitness uses.
Dining
Food court
A former movie-theater area was repurposed as a food court, adding dining capacity and helping convert obsolete entertainment space into an active mall amenity.
Education and community use
New River Community College satellite campus
A satellite campus of New River Community College was established in space associated with the former movie theater, giving the mall an educational and community-serving function.
Brand decisions
2020
Rebranding as Uptown ChristiansburgStrategyBackground
The property had evolved from a traditional department-store mall into a more varied shopping, dining, fitness, educational, and community destination.
Action taken
The New River Valley Mall name was replaced with Uptown Christiansburg in July 2020.
Aftermath
The property continued operating under the Uptown Christiansburg identity with Kohl's, Belk, HomeGoods, and Dick's Sporting Goods as major anchors.
2019
RockStep Capital purchaseM&ABackground
Farallon Capital Management subsequently sold the shopping center after owning it for approximately three years.
Action taken
RockStep Capital acquired the mall in fall 2019 for a reported $21.6 million.
Aftermath
RockStep became the property's reported owner before the center changed its public name the following year.
Reported acquisition price. $21.6 million (Fall 2019 transaction)
2016
Farallon acquisition and management transitionM&ABackground
The mall was transferred from PREIT during a period of continued tenant repositioning and changing ownership in the enclosed-mall sector.
Action taken
Farallon Capital Management acquired the property and retained CBL & Associates Properties to manage it.
Aftermath
The property remained under Farallon ownership until its sale to RockStep Capital in 2019.
Sources1 sources
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