Tenants in the beleaguered Sunrise Mall will be looking for new homes – or closing permanently.

The Massapequa mall is not renewing tenants' leases, as redevelopment plans are being evaluated, according to Urban Edge Properties, the Manhattan-based company that led a partnership in buying the struggling retail property in 2020.

"Sunrise Mall is clearly in transition, a reflection of the challenges facing a generation of shopping malls across Long Island and the nation. To ensure it remains a positive and contributing economic anchor for the surrounding communities, the Town of Oyster Bay, and Nassau County we need to create an orderly roadmap for that transition," Coleen R. Conklin, Urban Edge vice president of marketing, said in a statement Tuesday.

Urban Edge is not considering any proposal to redevelop the site as a residential community, she said in the statement.

Oyster Bay's zoning laws limit development activity at Sunrise Mall to light industrial and commercial uses only. Residential development wouldn't be allowed at the site unless the town board approved a zoning change.

"The town board is committed to protecting the suburban quality of life in our community," Oyster Bay Town Supervisor Joseph Saladino said.

Specifics on what types of redevelopment are being considered for the site have not been disclosed.

"The company is evaluating various plans with a variety of other uses on the table for review and discussion," an Urban Edge spokesman said.

There are about 50 tenants left in Sunrise Mall.

Anchors include Macy’s, Dick’s Sporting Goods, Dave & Buster’s, Raymour & Flanigan and XSport Fitness. Macy's was the only one to respond to Newsday's requests for comment but it provided no details about a store closing.

"We are delighted to continue to serve our customers at Macy’s Massapequa. We have no announcements to make," said Carolyn Ng Cohen, a spokeswoman for Manhattan-based Macy's Inc.

It is unclear when tenants will have to leave Sunrise Mall or if they will be able to remain until their leases expire.

Asked when the mall's tenants will have to vacate the property, Urban Edge said, "There are a series of leases expiring over time so there is no one specific date by which these tenants need to vacate."

Built in 1973, the 1.2 million-square-foot mall sits on 77 acres and is about 50% vacant now.

It has struggled with high vacancy rates for years, after losing major anchor stores and shoppers to online retail competition.

The mall had net operating losses of $400,000 in the fourth quarter of 2021 and $3 million for the year, according to Urban Edge's earnings report released last week.

A 204,154-square-foot JCPenney in the mall closed in 2017. Walmart left in 2015, but its lower level was leased to Dick’s Sporting Goods in 2017. Dave & Buster’s took 36,680 square feet of the discount retailer’s former space on the second floor in 2018.

The mall’s two-story, 100,086-square-foot Sears store — Long Island's last — closed Oct. 3.

In September, Urban Edge reached an agreement to pay $20 million to Sears’ and Kmart’s parent company, Transform Holdco LLC, to terminate its remaining leases at Sunrise Mall, Bruckner Commons in the Bronx and The Outlets of Montehiedra in Puerto Rico effective Oct. 15, according to an Urban Edge filing with the U.S. Securities and Exchange Commission.

Urban Edge said in the filing that controlling the anchor space was "a critical aspect of the value creation plans" the company had for Sunrise Mall.

Sunrise Mall Holdings LLC, a joint venture led by Urban Edge, bought the mall from Unibail-Rodamco-Westfield, a Paris-based company, for $29.7 million in December 2020. The purchase price was a steep decline from the $143 million the property sold for in 2005.

Urban Edge’s partners in Sunrise Mall Holdings are Sagamore Hill Partners, a Manhattan-based real estate investment firm affiliated with Jericho-based Ripco Real Estate, and J.G. Petrucci Co. Inc., an Asbury, New Jersey-based company that is an "established developer of industrial assets."