Muncie Mall to be Fully Demolished

Hull Property Group plans to raze the entire mall complex after determining redevelopment is no longer viable.

Published on Feb. 26, 2026

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The Muncie Mall, which has struggled with high vacancy rates and the loss of anchor stores in recent years, will be fully demolished by its current owner, Hull Property Group. The company says the mall's 92% vacancy rate and lack of interest from new retailers have made redevelopment of the existing structure unfeasible, leading them to opt for a complete demolition and redevelopment of the 25-acre site.

Why it matters

The Muncie Mall's decline reflects broader trends in the retail industry, with many malls across the country facing challenges from the rise of e-commerce and changing consumer preferences. The decision to demolish the mall entirely represents a shift away from attempts to revive struggling mall complexes, instead focusing on redeveloping the land for new uses.

The details

Hull Property Group, which purchased the Muncie Mall in 2024, originally planned to tear down parts of the mall and renovate the interior. However, the company says the mall's 92% vacancy rate and lack of interest from new retailers have made that plan no longer viable. Instead, Hull will demolish the entire mall complex, except for the portion owned by Buyer's Market. The company then plans to redevelop the 25-acre site, with a national wholesale club store fronting McGalliard Road and potentially new apartment buildings.

  • The demolition of the anchor stores can begin as soon as next month.
  • The interior section of the mall won't be demolished until the last tenant moves out, which could take between six months and two years.

The players

Hull Property Group

A real estate company based in Augusta, Georgia that has a record of mall revitalization, including by demolishing and reconfiguring parts of mall complexes in other states.

Buyer's Market

The owner of the portion of the Muncie Mall that will not be demolished.

Muncie Redevelopment Commission

The local government agency that has committed $2.8 million in tax increment financing to support Hull Property Group's new redevelopment plan for the Muncie Mall site.

Dan Ridenour

The Mayor of Muncie, Indiana.

Jeff Howe

The Director of the Muncie Redevelopment Commission.

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What they’re saying

“All we know is it's not gonna survive as it is. It has to be demolished completely.”

— John Mulherin, with Hull Property Group (Indiana Public Radio)

“I know for a fact there are three major retailers that are looking at the Muncie market…. But they're not coming to the mall. We've talked to them. They're not coming to the mall in its current configuration.”

— John Mulherin, with Hull Property Group (Indiana Public Radio)

“You build $65 million worth of apartments, it's gonna hit the books at $40 million in valuation.”

— John Mulherin, with Hull Property Group (Indiana Public Radio)

What’s next

The Muncie Redevelopment Commission has committed an additional $2.8 million in tax increment financing to support Hull Property Group's new redevelopment plan for the Muncie Mall site.

The takeaway

The decision to fully demolish the Muncie Mall reflects the broader challenges facing malls across the country, as changing consumer preferences and the rise of e-commerce have led to high vacancy rates and the decline of traditional retail hubs. Hull Property Group's plan to redevelop the site with a mix of new retail and residential uses represents an effort to adapt to these shifting market conditions.