Town Center at Cobb

Town Center at Cobb, commonly called Town Center Mall, is a super-regional shopping mall in Kennesaw, Georgia, in the northern Atlanta metropolitan area. The property is positioned within a major retail district along Barrett Parkway, near the interchange area where Interstate 75 and Interstate 575 meet. Its location made it a significant retail destination for Cobb County and surrounding communities, while also placing it in direct competition with open-air big-box retail, lifestyle centers, and higher-end Atlanta-area malls. The mall opened in late February 1986 as one of Georgia's largest shopping centers. Its original anchor lineup consisted of Rich's, Macy's, and Sears, with Mervyn's joining later in the same year. The original Macy's was notable because it was the first Atlanta-area Macy's store that did not begin as part of the locally rooted Davison's chain. The development was designed in a style comparable to Gwinnett Place Mall and helped draw shoppers away from older nearby properties, including Cumberland Mall and Cobb Center Mall. Town Center at Cobb expanded in 1992 with a northward wing and the arrival of Parisian, a Birmingham-based department store. The addition increased the center to approximately 220 stores and five anchors, making it one of the few Georgia malls of that period with such a large anchor roster. Its anchor portfolio subsequently changed as department-store chains retrenched and consolidated. Mervyn's left Georgia and Florida in the late 1990s, after which JCPenney moved into its former space in 1997. Rich's and Macy's later combined operations, leading to the closure of the original three-story Macy's location. The former Rich's space became the principal Macy's store, while portions of the former Macy's footprint were adapted for furniture, clearance, and men's departments. The mall underwent an initial renovation in 1995. A more substantial modernization was announced in 2008 and completed in May 2009. The project introduced updated common areas, a redesigned food court, family restrooms, a children's play area, new signage, and additional seating. It also brought several higher-profile specialty retailers, including Coach, Charlotte Russe, Swarovski, and H&M. Macy's later announced that a Macy's Backstage concept would be added within its store in 2017. The center's later history reflects the broader pressures facing traditional enclosed malls. Sears announced in 2020 that its Town Center at Cobb location would close as part of a nationwide reduction, and the store shut on August 9 of that year. The property was subsequently affected by debt and ownership problems. A $200 million loan associated with the mall was placed into foreclosure proceedings, and the property was offered at a Cobb County courthouse auction in February 2021 without receiving a bid. Foreclosure followed. Kohan Retail Investment Group acquired the mall in 2023. The anchor base contracted further in 2025 when Belk announced its closure. In January 2025, the property temporarily closed after its electricity service was disconnected amid reported delinquent utility bills; the mall reopened the following day. Later that year, the owner resolved a reported property-tax dispute with Cobb County. The remaining principal department-store anchors are JCPenney and two Macy's locations, while former Sears and Belk spaces are vacant. Town Center at Cobb remains an operating retail property, although its recent ownership, utility, tax, and anchor changes illustrate the financial and competitive challenges confronting aging regional malls.

Town Center at Cobb opened in late February 1986 in Kennesaw, Georgia, as a major enclosed shopping center serving northern Cobb County and the broader Atlanta region. Its original department-store anchors were Rich's, Macy's, and Sears. Mervyn's joined the center later in 1986. The original Macy's was significant in Atlanta retail history because it was the first area Macy's location that did not originate from the Davison's chain, which had been an important local department-store name before its conversion to Macy's. The mall formed part of the retail concentration along Barrett Parkway, between portions of Interstate 75 and Interstate 575 and near their junction. Its opening strengthened the area as a shopping destination and diverted business from older properties such as Cumberland Mall and Cobb Center Mall. In 1992, Town Center added a northward extension from its eastern wing and opened a Parisian department store. The expansion brought the mall's reported store count to approximately 220 and increased its anchor count to five. For a period, this made Town Center one of Georgia's most substantial enclosed malls. The property underwent a renovation in 1995, followed by significant anchor and tenant changes. Mervyn's withdrew from Georgia and Florida, and JCPenney moved into its former space in 1997. Rich's and Macy's later consolidated their operations. The original three-story Macy's closed, while the former Rich's location became the main Macy's store. Portions of the former Macy's space were subsequently used for Macy's furniture, clearance, and men's operations. Parisian later left the property and was replaced by Belk in 2007. These changes reflected the broader restructuring of the American department-store sector. In May 2008, mall management announced a year-long renovation designed to improve the center's appearance and visitor experience and to support a stronger tenant mix. Completed in May 2009, the work included a redesigned food court, family restrooms, a children's play area, updated signage, and additional seating. New or upgraded specialty retail offerings included brands such as Coach, Charlotte Russe, Swarovski, and H&M. In 2017, Macy's announced that it would add a Macy's Backstage off-price department within its store. The center later faced increasing competition from big-box stores and open-air lifestyle developments along Barrett Parkway and elsewhere in Cobb County, as well as from more upscale destinations such as Phipps Plaza and Lenox Square. Sears announced in May 2020 that its Town Center location would close as part of a national downsizing program; the store ceased operations on August 9, 2020. Financial pressure became a defining feature of the property's subsequent history. Deutsche Bank was identified as lead lender and trustee for a $200 million loan connected with the mall. In February 2021, Town Center at Cobb was placed on the public-auction calendar with an opening bid of $130.4 million. No offers were tendered, and the property was foreclosed. Kohan Retail Investment Group acquired the mall in 2023. The anchor base contracted again in 2025 when Belk announced that it would close its store on February 18. On January 28, a notice at mall entrances announced a temporary closure. Subsequent reporting linked the shutdown to Georgia Power disconnecting electricity over highly delinquent bills. The property reopened the following day. In March 2025, the owner reportedly settled an approximately $1 million property-tax case with Cobb County, avoiding foreclosure and a further auction. The mall's principal remaining department-store anchors are JCPenney and two Macy's locations, while the former Sears and Belk spaces are vacant.

• 2025

  Belk closes and ownership disputes intensify

  [1]Town Center at Cobben.wikipedia.org

  Belk closes its anchor, the mall experiences a brief electricity-related shutdown, and the owner settles a reported property-tax case.

• 2023

  Kohan acquires the property

  [1]Town Center at Cobben.wikipedia.org

  Kohan Retail Investment Group purchases Town Center at Cobb.

• 2021

  Foreclosure follows unsuccessful auction

  [1]Town Center at Cobben.wikipedia.org

  The mall is offered at a public auction without receiving a bid and is subsequently foreclosed upon.

• 2020

  Sears closes

  [1]Town Center at Cobben.wikipedia.org

  The Sears anchor closes on August 9 as part of the chain's nationwide downsizing.

• 2009

  Major renovation completed

  [1]Town Center at Cobben.wikipedia.org

  A modernization project concludes with redesigned visitor amenities and a refreshed tenant environment.

• 2007

  Belk replaces Parisian

  [1]Town Center at Cobben.wikipedia.org

  Belk becomes an anchor after Parisian leaves the property.

• 1997

  JCPenney replaces Mervyn's

  [1]Town Center at Cobben.wikipedia.org

  JCPenney takes over the former Mervyn's anchor space after Mervyn's exits Georgia and Florida.

• 1995

  First recorded renovation

  [1]Town Center at Cobben.wikipedia.org

  The mall undergoes an initial renovation as competition from newer and older regional centers evolves.

• 1992

  North wing and Parisian expansion

  [1]Town Center at Cobben.wikipedia.org

  A northward wing is added and Parisian opens, bringing the center to approximately 220 stores and five anchor stores.

• 1986

  Mall opens

  [1]Town Center at Cobben.wikipedia.org

  Town Center at Cobb opens in late February with Rich's, Macy's, and Sears as original anchors; Mervyn's joins later in the year.

A regional and super-regional enclosed shopping center serving Cobb County and the northern Atlanta metropolitan area, with department stores, specialty retailers, dining, and family amenities.

• Department store · 1986

  Macy's

  Macy's operates two anchor locations at Town Center at Cobb. The current principal Macy's occupies the former Rich's anchor footprint following the consolidation of Rich's and Macy's operations. The property has also included Macy's furniture, clearance, men's, and Macy's Backstage concepts, giving the department-store presence a broader assortment than a conventional apparel-focused anchor.

• Department store · 1997

  JCPenney

  JCPenney has occupied the former Mervyn's anchor location since 1997. Its assortment traditionally spans apparel, accessories, beauty, home merchandise, and related department-store categories, making it one of the mall's two remaining principal anchor tenants after the later departures of Sears and Belk.

• Off-price department-store concept · 2017

  Macy's Backstage

  Macy's Backstage is an off-price concept announced for installation inside the Town Center at Cobb Macy's store in 2017. The format was intended to broaden Macy's value-oriented merchandise offer within the existing department-store footprint rather than operate as a separate external anchor.

• 2025

  Temporary closure linked to unpaid electricity bills

  In January 2025, the mall temporarily closed after Georgia Power disconnected service, with reporting attributing the action to highly delinquent bills. The property reopened the next day. The episode highlighted financial and operational difficulties under the mall's then-current ownership.

  Source

• 2025

  Property-tax dispute with Cobb County

  Kohan Retail Investment Group reportedly settled an approximately $1 million outstanding property-tax case with Cobb County in March 2025, avoiding a foreclosure and auction process.

  Source

Read more

• 2023

  Transfer ownership to Kohan Retail Investment GroupM&A

  Background

  The property had entered foreclosure after an unsuccessful public auction in 2021.

  Action taken

  Kohan Retail Investment Group purchased the mall.

  Aftermath

  The acquisition placed the property under a new owner while the mall continued to face anchor departures and operating challenges.

  Source

• 2017

  Add Macy's BackstageProduct launch

  Background

  Macy's was broadening its off-price and value-oriented retail formats.

  Action taken

  Macy's announced that a Macy's Backstage operation would open inside the Town Center at Cobb Macy's store.

  Aftermath

  The announcement extended the department-store tenant's format mix within the mall.

  Source

• 2008

  Undertake a comprehensive property renovationStrategy

  Background

  The mall faced competition from big-box retail, lifestyle centers, and newer or more upscale regional malls.

  Action taken

  The property announced a year-long renovation involving common areas, food-service facilities, family amenities, signage, seating, and tenant upgrades.

  Aftermath

  The project was completed in May 2009 and added or supported retailers including Coach, Charlotte Russe, Swarovski, and H&M.

  Source

• 1992

  Expand the center with a new wing and fifth anchorStrategy

  Background

  Town Center was competing for regional shoppers and sought to strengthen its scale and tenant offer.

  Action taken

  Management added a northward wing and recruited Parisian as an additional department-store anchor.

  Aftermath

  The mall reached approximately 220 stores and five anchors, becoming one of Georgia's largest enclosed shopping centers at the time.

  Source

1. 1Town Center at Cobben.wikipedia.org
2. 2Simon Property Group Town Center at Cobb listingsimon.com