Business Journal: Sunrise Mall Owner Buys Macy’s Property
The owner of Sunrise Mall in Citrus Heights has taken a step that could make redevelopment of the site more likely.
“The mall’s owner, New York-based Namdar Realty Group, bought a Macy’s store building on the east side of the mall,” says Sonya Sorich of the Sacramento Business Journal. “The purchase also included about 10 acres of parking on the mall’s east side.”
The move comes as Citrus Heights city officials are crafting a new site plan for the 100-acre mall property, with participation from Sunrise Mall’s owners. Anchor stores at a mall typically own their own properties, and that can pose a significant barrier to any possible redevelopment plans.
To read more, please visit Capradio.