 Applebee's initially declined to open in one of the new freestanding restaurants on the site, but eventually built a new freestanding restaurant about a block away in 2005.When the Methuen Mall finally closed, the city of Methuen took a huge financial hit, seeing property tax revenue fall from US$60 million annually to US$18 million annually for the site alone.In 1999, the land was redeveloped by The Brickstone Companies into the first of their branded shopping centers named The Loop after the loop made by the highways that surround it.