Norwalk’s SoNo Collection Is Up for Sale

When it was under construction in 2017 and 2018, some joked that the SoNo Collection would be “the last mall built in America.” Now about seven years after it opened its doors in 2019, the mall is up for sale. 

The property, located just off I-95, includes about 12 acres and about 738,800 square feet of “leasable area.” JLL Capital Markets, which is advising on the sale, said the property has a “compelling tenant mix,” and an occupancy rate of 86%. 

“The property presents an exceptional opportunity for a new owner to acquire a dominant retail destination at a compelling basis, while executing a thoughtful re-merchandising strategy to unlock embedded value across the remaining vacancy and property,” a statement from JLL reads. 

But it's a tough economic time for commercial properties. And the SoNo Collection isn’t just a small property—it’s one of the highest valued properties in Norwalk. As a part of the 2023 revaluation, the city found the appraised value of the property was $224,956,130 and its assessed value, or 70% of that, to be $157,469,290. The assessed value is what the property owner pays taxes on. Still, that value is down significantly from when it was first built. Following the 2019 revaluation, the mall was appraised at $385 million, with an assessed value of $269.5 million. The lower assessment came at a time when the city saw commercial property values decrease, while residential property values increased, shifting more of the tax burden onto residents.

So let’s take a deep dive into the mall: how it came to be, what it’s like today, and what this could mean. 

The History of the SoNo Collection

The roots for the mall can be traced back decades to the city’s Urban Renewal Plan for the Reed Putnam Area. The initial plan was approved in 1983, and subsequently updated in 1997-1998, and again in 2007. The area, which for years was referred to as 95/7 due to its close proximity to both highways, was described as “a natural site for the future development of higher density uses,” due to its location.

The goals of the plan were to “create development opportunities for an appropriate mix of uses, including office, retail, residential, hotel, and nonprofit institutions; increase the tax base of Norwalk; enhance public access to and enjoyment of the Norwalk waterfront; increase housing opportunities for the residents of Norwalk; and increase employment opportunities for the residents of Norwalk.” 

The original plan included properties beyond the current mall’s location, where many of these aspects came to life, including the Sheffield apartment buildings and office space. 

In 2015, the Common Council (and Redevelopment Agency) modified the plan once again noting that at the time many of “these parcels remain in a blighted substandard physical and economic condition,” which is why officials wanted to act. The updated plan calls for “a mixed use development consisting of retail, hotel, and public realm” on the properties located where the current mall and the site along North Water would be redeveloped for residential, retail, and more. 

It also noted that the land “was cleared for development a decade ago, but private development fell victim to market forces and the great recession,” leaving it empty, something officials said was painful. 

Former Councilman Travis Simms told NancyonNorwalk that he would support the plan because it would bring something to the empty site. 

“I think it’s time we start moving this project forward. It’s time to get Norwalkers to work, with these jobs, and it’s time to start filling up this eyesore that’s been here 13 to 15 years,” Simms said. “We lost a lot of tax revenue under the Republican administration using eminent domain, taking these small businesses and homes. For what? I mean, we lost millions and millions and millions of tax revenue over the last 13 to 15 years, for what? Now we have the opportunity to get some of that back and really help the folks out here in Norwalk.”

From there, the roots of the SoNo Collection came into play. In 2015, officials voted to approve updates to the land disposition agreement that governed the site. “It’s a go,” former Mayor Harry Rilling told NancyonNorwalk. At the 

“They are going to make this not only a shopping experience, it’s going to be an experience that people can walk through. I don’t know of any project anywhere that I have seen with the public realm areas that will be this interesting, this attracting to people, getting people to come into the mall,” Rilling said in 2016 when the updated plans were approved. 

Officials said that the property would bring “significant revenue to Norwalk and the state of Connecticut.” 

Initially, the plan called for about 700,000 square feet of retail space and a 150+ room hotel, but the hotel was eventually phased out of the plan. The original developer, General Growth Properties, ended up paying the city $3.5 million in response to removing the hotel. That funding has been used for some projects in South Norwalk, including supporting the community center at 98 South Main Street and a South Norwalk Community plan. 

The mall officially opened its doors in October 2019, and had planned for a “rolling opening” into the early months of 2020. Almost immediately after it opened, the mall was shut down due to the COVID-19 pandemic, which also changed many people’s shopping habits, pushing them even more online.

The SoNo Collection Today

The mall today, as noted earlier, has about an 86% occupancy rate. Many of the big name stores that were there at the start have continued on including Bloomingdales, Nordstrom’s, Apple, H&M, Victoria’s Secret, Sephora, and more. Some sites have switched hands—for example the CAMP toy store and kids’ play area, was replaced by Playhouse SoNo, which provides similar opportunities. Jacobs Pickles opened in late 2023, as a featured restaurant along West Avenue, while construction continues on Sally’s Apizza, which is slated to open this spring. 

But other big names have left, leaving some major vacancies in the mall. Yardhouse, which was a restaurant also prominently located along West Avenue, closed in 2025. Pinstripes, which occupied a large amount of space on the third floor, due to its bowling alley, restaurant, and bocce court, also closed in 2025. 

What’s next for the property?

The listing information says that it’s looking for a new owner to acquire a “dominant retail destination,” particularly one that could execute a “thoughtful re-merchandising strategy to unlock embedded value across the remaining vacancy and property.” 

The listing did not include a price and no details were provided about what the future of the building could look like. News12 reported that a spokesman for the mall said that the “SoNo Collection is open and operating as usual, while next steps for the property are being evaluated.”