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