An article in today’s Memphis Business Journal says that Peabody Place will lose another business, and this time it’s an anchor. Muvico will be closing its 22-screen theater in March.
The article goes on to say that Belz is in talks with the mall concerning a redevelopment of the space. The Peabody is interested in adding more rooms, and would be interested in converting the Muvico space into 160-170 luxury suites and a meeting space. Belz is also beginning to consider non-traditional mall stores for the remainder of Peabody Place, such as outlet stores.
More info to come as it becomes available.