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Citrus Heights adopts new Sunrise Mall specific plan, paving the way for redevelopment

Property:

Category: Property News

Date: November 23, 2021

The Citrus Heights City Council this week unanimously voted to approve a new specific plan outlining redevelopment at the Sunrise Mall.

The mall’s majority owner, New York-based Namdar Realty Group, submitted a letter of support for the specific plan. “We have been working closely with City Staff to discuss redevelopment options for our property and support the approval of the Sunrise Tomorrow Specific Plan,” Namdar CEO Igal Namdar said in the letter. “We look forward to advancing our plans for the site.”

To read more, please visit SacBee.com

The Bangor Mall is turning into an entertainment destination

Property:

Category: Property News

Date: November 10, 2021

A growing number of people will pass through the doors of the Bangor Mall in the coming weeks and months to enjoy theater, music, gaming and other entertainment — attractions that are starting to rival retail centers at the mall.

Today at the mall, Some Theatre Company and Ten Bucks Theatre Company both operate spaces. Sunshine’s Fitness Studio and Wellness Center offers classes and personal training. Bangor Comic & Toy Con, after hosting its convention at the mall earlier this month, will now offer year-round programming in two storefront locations. Maineiac Manor, open during October and sporadically throughout the year, runs a haunted house in the former Hollister store, and local photographer Shane Grant opened a photography and video studio. 

And by the end of the year, G-Force Adventure Center will open an entertainment and gaming center with laser tag, an arcade, axe throwing, bounce houses, live music and comedy, and a bar and restaurant, in four leased storefronts in the wing of the mall where Sears once was.

To read more, please visit Bangor Daily News.

Yale New Haven Health Buys Former Macy’s Building at Meriden Mall in Connecticut

Property:

Category: Property News

Date:

Yale New Haven Health, a regional provider with a total of 2,409 beds across its facilities, has purchased a building previously occupied by Macy’s at Connecticut’s Meriden Mall. Yale New Haven Health plans to repurpose the property into a retail health clinic. According to the Hartford Business Journal, Macy’s closed its store within the 179,285-square-foot building in May 2020. An investment group that includes Mason Asset Management and Namdar Realty Group owns Meriden Mall.

Former Macy’s To Be Repurposed as Healthcare Facility

Property:

Category: Property News

Date:

The previously unoccupied 179,285 square-foot Macy’s store attached to the Meriden Mall at 460 Lewis Avenue in Meriden. The vacant Macy’s property provides YNHHS with the opportunity to create an innovative, consumer-focused facility with numerous advantages.

“We’re thrilled that YNHHS chose MedCraft as a strategic advisor to identify, evaluate and negotiate the acquisition of a location of this complexity, scale and importance,” says Steve Bruckeridge, Development Principal with MedCraft. “We brought an experienced, multidisciplinary team to conduct a comprehensive analysis of potential sites that could meet YNHHS’ criteria based on market location, functionality, cost and constructability. With our retail redevelopment expertise and collaboration with the YNHHS team, the City of Meriden, Macy’s and Namdar Realty Group (the Meriden Mall owner), we were able to find the optimal site.”

To read more, please visit Healthcare Facilities Today.

Yale New Haven Health System buys former Macy’s spot in Meriden Mall

Property:

Category: Property News

Date:

The Yale New Haven Health System has purchased the space of a former anchor store in the Meriden Mall, according to health system officials.

Terms of the deal were not released, but Yale New Haven Health said in a release that it would use the 179,285-square-foot, two-story former Macy’s spot for a “comprehensive ambulatory center.”

The Macy’s in the Meriden Mall closed in 2020. A Long Island, N.Y.-based retail center operator, Namdar Realty Group, acquire the mall in June of that year from Unibail-Rodamco-Westfield.

To read more, please visit New Haven Register.

Yale New Haven Health buys former Macy’s store at Meriden Mall; plans retail health center

Property:

Category: Property News

Date:

The Yale New Haven Health System has purchased the vacant former Macy’s store at the Meriden Mall and plans to repurpose the space as a retail health facility.

In a statement released Monday, healthcare real estate firm MedCraft said it helped facilitate the deal for the 179,285-square-foot property at 460 Lewis Ave. The company said it worked closely with the city and Namdar Realty Group, which owns the mall, to find the “optimal site” for Yale New Haven Health.

To read more, please Hartford Business.

MedCraft Healthcare Real Estate Partners with Yale New Haven Health System to Finalize the Purchase of Vacant Macy’s Store at Meriden Mall in CT

Property:

Category: Property News

Date:

MedCraft Healthcare Real Estate, a leading healthcare real estate firm that provides advisory, development and financing services to health systems and physician practices, facilitated the acquisition for Yale New Haven Health System (YNHHS) – Connecticut’s leading healthcare system offering more than 100 medical specialties.

“We’re thrilled that YNHHS chose MedCraft as a strategic advisor to identify, evaluate and negotiate the acquisition of a location of this complexity, scale and importance,” said Steve Bruckeridge, Development Principal with MedCraft. “We brought an experienced, multidisciplinary team to conduct a comprehensive analysis of potential sites that could meet YNHHS’ criteria based on market location, functionality, cost and constructability. With our retail redevelopment expertise and collaboration with the YNHHS team, the City of Meriden, Macy’s and Namdar Realty Group (the Meriden Mall owner), we were able to find the optimal site.”

To read more, please visit Yahoo! Finance.

New shops and warehouses are changing the look of Delaware’s shopping malls. Here’s the latest.

Property:

Category: Store Openings

Date:

Concord Mall

The Concord Mall has introduced a host of new businesses in the past few months.

Among the new additions is Rasa Sayang, a Malaysian restaurant that previously operated in the Independence Mall shopping center on Concord Pike in Fairfax. The mall also added eateries called Snack Shack and O My Smoke BBQ, and a coffee/tea shop called Natural Reserve.

In recent months, a handful of shops have also opened in the mall, including women’s clothing stores Jacqueline’s Boutique and Queeny and sports memorabilia shop 7th Inning Stretch.

To read more, please visit Delaware Online.

Meet the Long Island guys who love unloved shopping malls

Property:

Category: Uncategorized

Date: August 18, 2021

Igal Namdar and Elliot Nassim first teamed up a decade ago to buy problem U.S. shopping malls.

Now they rank among the biggest all-cash buyers of the nation’s hard-luck malls. The pandemic has made it even tougher for mall property owners already struggling to keep up on mortgage payments, resulting in several major players throwing in the towel on distressed properties and with more likely.

The duo, through Namdar Realty Group and Mason Asset Management out of Great Neck, Long Island, currently owns about 60 million square feet of shopping center space, including roughly of 100 open-air properties are 65 enclosed malls. 

To read more, please visit MarketWatch.com.