Regency Square Mall Trades for $13M, or About $10/SF – CoStar Group

Regency Square Mall Trades for $13M – CoStar Group.

From CoStar:

Chicago-based General Growth Properties (GGP) sold the Regency Square Mall to a joint venture comprised of Great Neck, NY companies Namdar Realty Group and Mason Asset Management for $13 million, or about $9 per square foot.

Located at 9501 Arlington Expy. in Jacksonville, the 1,419,661-square-foot mall was built in 1968 with renovations in 2001. The mall is anchored by JC Penney, Belk, Sears and Dillard’s. Sears and Dillard’s were not included in the sale.

The center was 37.9 percent occupied as of December 2013, according to CoStar data. The new owners plan to redevelop the Mall.

Thomas Dobrowski, Cameron Pittman, Anthony Tufariello and Larry Kligman of Rockwood Real Estate Advisors represented the seller in the transaction.

About Ernie Saltmarsh

Ernie works for Colliers International in the Northeast Florida Investment Services Group. The team includes Robert Selton, Scott Rogers, Ernie Saltmarsh and Adrienne Miller. Ernie works with buyers who are looking to invest in commercial real estate and sellers who are looking to dispose of investment assets. Ernie's background in research, marketing and finance provide the vital skills necessary to serve his clients.

Posted on March 6, 2014, in Shopping Centers/Retailers, Transactions and tagged , . Bookmark the permalink. Leave a comment.

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