Massive changes are on the horizon for the Pine Ridge Mall property after it was recently acquired by SimonCRE, a national development and acquisition firm headquartered in Scottsdale, Arizona.

SimonCRE officially closed on the mall property on Thursday and distributed a press release detailing its plans to convert the 2.5 million-square-foot area of space into an open-air retail complex that will “draw in multiple large retailers that are desired by the local community.”

“The Pine Ridge Mall has been a major anchor for the community of the Pocatello-Chubbuck area, and we want to honor that longstanding history with this redevelopment,” said Joshua Simon, founder and CEO of SimonCRE. “Our goal is to revitalize this area by bringing in retailers that residents have been requesting, and ultimately support this community as it continues to grow and thrive.”