Rod Littler is packing up his merchandise at HionFi. He and his business partner are moving out of their Shoppingtown Mall location and taking their business to Jamesville.

"The problem is if the word of mouth out there is that the mall is closed, that doesn't help anybody," said Littler.

The repair store and retailer of vintage stereo equipment and vinyl will move out of the Town of DeWitt by the end of June. The depature comes less than two weeks after the mall's final anchor store, Sears, announced that it would be closing. 

"We did our research on Moonbeam and this is not unusual for them -- they own several malls, and it does not seem they've done anything on any of the malls," said Littler.

Moonbeam Capital Investments LLC is the parent company of Shoppingtown, purchasing the mall in 2013. According to its website, the business was established to purchase non-performing properties with the objective to "achieve long-term capital appreciation by investing in real estate related projects in the United States."

The Las Vegas-based company owns more than 50 properties in the U.S., 10 of which are malls that continue to struggle even after Moonbeam's acquisitions and plans for redevelopment.

According to the Burlington County Times in New Jersey, the Burlington Center will be empty come September. Still under Moombeam's ownership, it remains unclear what will become of it.

And in Pittsburgh, Century III Mall is up for sheriff's sale come July. According to KDKA-TV, lawmakers say they tried to work with Moonbeam, but nothing happened throughout the years.

And in Central New York, Moonbeam's website claims it plans to make Shoppingtown a mixed-use development with retail, office, hotel and residential spaces. One week ago, the Town of DeWitt passed a mixed-use zoning overlay, permitting developers to do just that.

But the town has received no word on plans from Moonbeam. 

"If they would just come out with a plan, it would appear that something was going to happen, but they have just let it lead to a decline, and that's a little frustrating," said Littler.

For Littler, leasing at Shoppingtown gave his business the opportunity to grow. But the ingredients necessary for success have become more and more scarce.