 Five months later, Macerich announced it was buying the mall, in a deal that closed at the end of that year.After Macerich's purchase, Kings Plaza underwent an significant renovation project which included reconstruction of the parking garage, renovation of the exterior facade and signage, as well as a renovation of the interior common areas and decor.In September 2016, Macerich announced that the Sears store at Kings Plaza would be closed and replaced by two European retailers