Laguna Hills Mall closing its doors

LAGUNA HILLS, Calif. -- Laguna Hills Mall is closing its doors.

The mall was slowly losing its large anchor stores. Sears closed in 2014. Macy's and J. C. Penney shuttered this year.

There are plans for the space to be redeveloped as the Five Lagunas shopping center. Those plans will be shared in early 2019.

Tenants with entrances outside the mall and surrounding it will remain open. Management company Merlone Geier bought the mall in 2013 for $110 million.

More than 500 malls closed in the U.S. since their peak in the 1990s. The last day of shopping at the Laguna Hills Mall is Dec. 31.