Namdar Realty Group, a commercial real estate investment and management firm based in New York, purchased Westgate Mall in Spartanburg for over $15 million May 23. Read more at Upstate Business Journal.
In late 2022, it was announced that the former Sears space at the Acadiana Mall would be transformed into a new self-storage facility along with a car wash. However, the car wash aspect of the project has since been canceled, leaving only the self-storage component. Read more at Developing Lafayette.
Pickleball is coming to the mall.
Peak Pickleball, a 24-court complex that its owner says will be the nation’s largest privately owned, indoor pickleball facility, will take over the vacant Burlington department store at the Chapel Hills Mall, northeast of Academy and Briargate boulevards in northern Colorado Springs. Read more at The Gazette.
Purchase of Downtown Cleveland’s third-tallest skyscraper last week was officially confirmed today by the skyscraper’s new owner. A partnership of Namdar Realty Group and Mason Asset Management, both of Long Island, NY, also said they have a formed a five-year capital plan to improve 200 Public Square and hired a new building manager to carry out that plan. Read more at NEOTrans Blog.
A grand opening is set for Monday at Cayuga Health’s newest facility located at the Ithaca Mall, ensuring ease of access and exceptional care for patients. Read more at Finger Lakes Daily News.
According to an announcement from Scene One Entertainment, the six-screen theater in the Westgate Mall will celebrate its reopening on Wednesday with $3 tickets for multiple new and older classic features. Read more on My High Plains.
Nathan’s Famous has returned to the Trumbull Mall after a 15-year hiatus. And for those who don’t favor hot dogs, it brought Arthur Treacher’s Fish & Chips with it. Read more at Connecticut Post.
Namdar Realty Group and Mason Asset Management are set to embark on a redevelopment pipeline in 2024, with plans for eight pending deals and an additional 40 properties earmarked for redevelopment. Read more at ConnectCRE.
Namdar Realty Group and Mason Asset Management’s acquisition of a prime retail space in Chicago’s Magnificent Mile reflects a strategic bet on the revival of high-profile retail destinations in a post-pandemic world. Read more at bnnbreaking.com.