Polaris Fashion Place marks 25 years in 2026 after ownership change and wider retail shifts
A regional retail landmark approaches a milestone
Polaris Fashion Place, the two-level shopping center off Interstate 71 on Polaris Parkway, is set to turn 25 years old in 2026. The mall opened in 2001 and grew alongside the wider POLARIS Centers of Commerce development on Columbus’ north side, helping establish the area as one of Central Ohio’s most concentrated retail and entertainment corridors.
The anniversary arrives at a moment of significant structural change for U.S. malls, where owners and tenants have increasingly emphasized experiential concepts, dining, and mixed-use formats in response to shifting consumer habits and e-commerce competition. Polaris has long combined an enclosed mall with adjacent open-air elements, positioning it within the category of large-format, hybrid retail destinations.
Recent ownership changes shape the next phase
In 2025, O’Connor Capital Partners consolidated full ownership of Polaris Fashion Place and assumed operational control, including day-to-day management, leasing, and on-site operations. The transition followed a period in which Washington Prime Group, previously associated with the property, pursued a broader portfolio selloff and announced layoffs at its Central Ohio headquarters.
The ownership shift is consequential for tenants, workers, and surrounding development because mall performance, capital investment, and leasing strategy are closely tied to an owner’s balance sheet, long-term time horizon, and redevelopment priorities. While the purchase price was not publicly disclosed, public records list a taxable value for the property exceeding $100 million.
Tenant mix and anchors remain central to the mall’s identity
Polaris Fashion Place has been built around department-store anchors and a wide roster of national brands, with dining and entertainment contributing to foot traffic beyond traditional apparel shopping. Anchors at Polaris include Saks Fifth Avenue, Von Maur, Macy’s and JCPenney, with additional draw from prominent specialty retail and food destinations located within the broader Polaris retail district.
Opened: 2001
Location: 1500 Polaris Parkway, Columbus (southern Delaware County, near the Franklin County line)
Format: enclosed mall with open-air components and adjacent retail/entertainment uses
How the 25-year mark fits Columbus’ retail history
In the Columbus market, Polaris’ longevity contrasts with the trajectory of several earlier “directional” malls that either closed or were demolished after extended declines. That context has reinforced the importance of occupancy, reinvestment cycles, and the ability to attract a rotating mix of tenants—particularly categories that benefit from in-person visits such as entertainment, personal services, and certain specialty retail.
As Polaris approaches its 25th year in 2026, its next chapter will be defined less by the anniversary date than by leasing momentum, reinvestment decisions, and how effectively the property adapts to evolving retail demand.
Any anniversary programming, tenant promotions, or commemorative events tied to the milestone would be expected to emerge through the property’s normal marketing and events calendar.