News

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.

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.

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.

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.