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Several new businesses open in Eastdale Mall


Category: Property NewsStore Openings

Date: February 19, 2021

Several new businesses have opened in Eastdale Mall creating more than 30 jobs and boosting customer traffic, the mall’s manager said. 

“All the new stores have brought more value and excitement to Eastdale Mall,” mall manager Richard Holman said. “We are getting great feedback and the tenants are generating more traffic in the mall.”

The vendors offer products and services ranging from shoes and clothes to help for those trying to become more fit in 2021. 

To read more, please visit Montgomery Advertiser.

Hope Baptist moves into old Nike store at Lebanon Outlet Marketplace; retail still the focus


Category: Leasing Updates

Date: February 08, 2021

A church that sold its campus to The Journey Church has reopened at Lebanon Outlet Marketplace in the former Nike store space.

“It was positive,” Lebanon Economic Development Director Sarah Haston said. “We discussed their ideas and our ideas to (redevelop) the property and we are looking forward to working out a way to maintain (a) retail component. We are both interested in updating the property and keeping it an interest spot in Lebanon.”

New retail tenants could be announced in the coming weeks, Lebanon Outlet Marketplace General Manager Hugh Graham said.

To read more, please visit The Tennessean.

Nation’s Top Retail Landlords to Donate Space to Deserving Small Businesses


Category: Uncategorized

Date: February 04, 2021

Some of the well-known participating landlords include: Simon Property Group, Westfield Group, Tanger Outlets, Brookfield, Kimco, Phillips Edison, Urban Edge, Brixmor and Federal. (Entire list below)

Participating landlords have committed to 90 days of free rent in temporary, or “pop-up” space. In return, the small businesses agree to pay for desired capital improvements and utilities, along with a one-month security deposit. Azor herself will offer up free space to support local businesses at each of her shopping centers where there is availability.

List of all participating landlords:

List of all participating landlords:

  1. Azor Advisory Services
  2. Arrow
  3. Basser Kaufman
  4. Bayer Properties
  5. Brickstone
  6. Brixmor Property Group
  7. Brookfield
  8. Cana Development
  9. CBL
  10. Celso Leite
  11. Collett
  12. DLC Management
  13. Federal Realty
  14. First National Realty Partners
  15. Gart Properties
  16. Garrity
  17. Graff
  18. Hutton
  19. InvenTrust
  20. Kimco
  21. Linear
  22. Mason Asset Management

To read more, please visit Yahoo! Finance

Mason Asset Management featured on Business Insider


Category: Acquisitions

Date: December 14, 2020

2020 has been a devastating year for retail. The COVID-19 pandemic pummeled an industry that was already struggling to adapt to the rise of online shopping, leading to the announcement of 11,157 store closures for the year — a record, according to CoStar Group, a provider of commercial real-estate data. Nearly 40 major retailers and restaurant companies filed for bankruptcy.

But that’s not the full story.

Smaller mall landlords are also thinking like the major players.

Mason Asset Management, a commercial real-estate investment company that specializes in buying distressed malls, owns 60 enclosed malls around the country. This summer, it purchased its first retail company, Jennifer Furniture, along with a movie-theater chain, Goodrich Quality Theaters.

Elliot Nassim, the owner and president of Mason Asset Management, said the company saw an opportunity “to go vertical” during the pandemic by investing in distressed brands that had promise. Nassim said the rise of home renovation during the pandemic bolstered the company’s choice to purchase Jennifer Furniture, but he also cited the potential for a brand’s longevity beyond its distressed period. Mason Asset Management has six Jennifer locations open.

“The way we see it is there’s a value to these companies that maybe the business world doesn’t appreciate the long-term value of,” Nassim told Business Insider in an interview. “While today maybe the values are depressed and people are calling it quits, as mall operators and landlords, we understand the value of these brands.”

In the case of movie theaters, Nassim said that though the pandemic had essentially halted moviegoing, it would resume its place in American culture once the pandemic passes.

Nassim added that the company wasn’t just buying up brands so that its properties would have tenants.

The theme of brand longevity and history underpins the strategies of many brand-management companies choosing which bankrupt brands to buy.

“It’s not necessarily to sustain the mall — it’s believing in the long-term viability of a Brooks Brothers, a Forever 21, where these things have a place in society,” he said. “Maybe today they just need to be redirected.”

To read more, please visit Business Insider

Malls Turn to Underused Parking Lots for New Revenue


Category: Property News

Date: August 06, 2020

As mall stores have closed during the COVID-19 outbreak, some landlords have found a new, surprising source of revenue—shopping center parking lots.

Mason Asset Management, which buys distressed malls in partnership with Namdar Realty Group, is open to exploring turning its parking lots into movie theaters or concert venues, according to Elliot Nassim, president of the company.

“We have an entire specialty leasing team now just focused on the parking lot and the ancillary income,” Nassim says. “If you have a good real estate, you have the potential to do so much with it, and we are excited to have new, non-traditional opportunities to continue adding value to our properties.”

To read more, please visit

Mason Asset Management featured on CNBC


Category: Acquisitions

Date: July 22, 2020

Lauren Thomas recently interviewed Elliot Nassim, Mason Asset Management, for her story “A risky bet by America’s mall owners: Plucking retailers out of bankruptcy to salvage a pandemic-hit industry”

Two family-owned investment firms that have made a name for themselves in the mall world, Namdar Realty Group and Mason Asset Management, are taking a similar view on investing in retail. 

The two have come together over the years to amass a portfolio of dozens of suburban shopping malls. Their business strategy, in sum, is to acquire distressed assets from either banks or other owners, and refurbish them enough to keep them running. 

Even during the pandemic, they have acquired three malls — Belknap Mall in Belmont, New Hampshire; Mesilla Valley Mall in Las Cruces, New Mexico; and Meriden Mall in Meriden, Connecticut, Mason Asset Management President Elliot Nassim said. 

And they’ve also acquired a local furniture chain, Jennifer Furniture, out of bankruptcy, along with the Grand Rapids, Michigan-based movie theater chain Goodrich Quality Theater, Nassim said, not disclosing the financial terms of those deals. 

“We are looking at investing in more retail chains to become a little more vertically integrated,” Nassim explained. “We believe in the future of brick and mortar.” 

“We look at it as a wonderful opportunity to be involved in a new sector with promising returns,” he added.

To read more, please visit CNBC.

Mall Owners Buy Theater Chain


Category: Acquisitions

Date: July 13, 2020

Bankruptcy documents identify the purchasers as “Goodrich Theater Newco, LLC,‘ with Elliot Nassim of Mason Asset Management in Great Neck, New York as the contact person.

The Cadillac News reached out to Mason Asset Management’s public relations team, who confirmed that Nassim, Igal Namdar and VIP Cinemas have partnered to acquire the Goodrich Quality Theaters chain.

Nassim and Namdar are frequent partners in shopping malls, Reuters reported in June of 2018. Indeed, Mason Asset Management and Namdar Realty operate several in Michigan, including Flint, Jackson, Muskegon, Saginaw and West Branch.

And now they’re buying into the movie business.

“The plan is to continue operations of the existing theatres and grow the brand’s footprint,‘ said Nassim, founder of Mason Asset Management.

To read more, please visit Cadillac News.

Mason Asset Management Interview in The New York Times

Category: Uncategorized


Sapna Maheshwari recently interviewed Elliot Nassim, Mason Asset Management, for her story “With Department Stores Disappearing, Malls Could Be Next.”

The directory map for the Northfield Square Mall in Bourbonnais, Ill., has three glaring spaces where large department stores once stood. Soon there will be a fourth vacancy, now that J.C. Penney is liquidating stores after filing for bankruptcy.

With so much empty space and brick-and-mortar retail in the midst of seismic changes even before the pandemic hit, the mall’s owners have been talking with local officials about identifying a “higher and better use for the site,” though they have declined to elaborate on what that could be.

“Filling in one anchor space, generally, is doable,” said Elliot Nassim, president of Mason Asset Management, which co-owns the Northfield Square Mall and dozens of other enclosed shopping centers. “But once you get hit by two others and you’re dealing with three anchor closures, that’s usually where we become a little more likely to put it into the bucket of a redevelopment.”

To read more, please visit The New York Times.

Walmart And Amazon Lead The Retail Pack By Leveraging Healthcare


Category: Uncategorized

Date: June 26, 2020

In recent years a lot of experts have predicted that the retail and healthcare industries would converge. Pre-COVID, retailers like Walmart WMT, Amazon AMZN, Best Buy BBY and CVS jumped on the bandwagon of leveraging opportunities in healthcare. But COVID-19 has quickly accelerated this trend to a new reality.

Elliot Nassim, President of Mason Asset Management was recently quoted in a Pymnts piece that “Today’s malls are not only anchored by department stores, but include entertainment, healthcare and fitness studios… This creates an exciting opportunity for the communities that surround these properties.”

To read more, please visit Forbes.