Inside Square One Mall
|Opening date||August 17, 1994|
|Developer||New England Development Corporation|
|Owner||Simon Property Group (56.4%)|
|No. of stores and services||125|
|No. of anchor tenants||6|
|Total retail floor area||929,844 square feet (86,385.3 square meters)|
|No. of floors||2|
Square One Mall (formerly the New England Shopping Center) is a 125 store shopping mall located along US Route 1 (Broadway) between Main Street and Essex Street in Saugus, Massachusetts. Anchor stores include Sears, Macy's, Dick's Sporting Goods, Best Buy, T.J. Maxx, and BD's Furniture.
The mall was a $100 million project undertaken by New England Development Corporation to redevelop the former New England Shopping Center which consisted of Sears, Service Merchandise and the former General Cinemas which had closed in the mid-1980s. The construction of the mall was unique since it incorporated the previously built structure of Sears, signs of this being the difference in building materials between Sears and the rest of the mall. The mall opened for business on August 17, 1994.
The mall is credited with bringing sprawl and strip development to Saugus, especially along the Route 1 corridor. Route 1 through the area is a 6 lane highway (3 lanes in each direction) with a speed limit of 50 mph (80 km/h).
Filene's Basement, one of the malls former anchors, filed for bankruptcy protection on May 4, 2009. New York’s Crown Acquisitions, made a bid to buy Filene's Basement including their famous Downtown Crossing location which closed in 2007. All Filene's Basement stores closed in December 2011.
In 2015, Sears Holdings spun off 235 of its properties, including the Sears at Square One Mall, into Seritage Growth Properties. Sears downsized its store to the lower level in 2017 and part of the auto center is expected to become LongHorn Steakhouse and Xfinity in 2019. The upper level of Sears is now vacant.