Namdar Mall properties are typically subdivided, with small parcels such as independent restaurants or strip malls sold for commercial purposes.
That’s what happened in Beaver Valley, Sisk said.
“When they first bought the property, they subdivided the outer parcels and sold off the Burger King and the little strip,” he said. “But we don’t see much movement towards attracting anything into the mall.”
Namdar bought Enfield Square Mall and several parcels in Connecticut for $11.4 million in 2018. The declining property was dubbed the state’s deadest mall by the YouTube series “Fleabitten Adventures,” but Namdar raised nearly $18 million to keep it open. The adjacent Target and several independent restaurants will be sold.
In Wyomissing, leaders are biding their time until the entire mall is sold. It is under contract with Motus Development. left a message
Meanwhile, Baer said Namdar was charged with 20 pages of Uniform Construction Code violations for a cratered parking lot, peeling paint and unsafe construction equipment.
“Even if Mr. Bonton was accused, they didn’t shut it down,” Baer said. “We went in there and found graffiti, so someone is breaking in.”
At Voorhees Town Center in New Jersey, Mr. Namdar has entered into a sales agreement that calls for reconsidering part of the property as a mixed-use residential and commercial development, the Philadelphia Inquirer reported last week. . Namdar bought the mall in 2015 for $13.4 million.
Voorhees Town Center “clearly needs resuscitation,” Town Manager Michael Mignogna told the newspaper.
“Our hands are tied. We can’t force them to sell it. They just take, take, take.”
— Frazer Supervisor Lori Ziencik
In Illyria, Ohio, the Lorain County Port Authority stepped in and took over Midway Mall when it became a ghost town. Opened in 1966 and accessible from the Ohio Turnpike, this location flourished for more than 50 years. Namdar bought it in 2017 for $4.25 million. The company sold it six years later for nearly $14 million.
By then, “there were just a lot of vacant storefronts, a few small churches, and a few big-name brand stores,” said Dawn Calvert, who manages the Illyria Economic Development Authority. “County commissioners realized that the mall, located midway between Sandusky and Cleveland, is one of the busiest corridors in the state. I thought it was an opportunity because it’s a place that represents the world.”
Anthony Gallo, president and CEO of the Lorain County Chamber of Commerce, said the site will transition to light industry, which will create jobs and spur redevelopment. However, the closure of the mall caused a bit of an uproar.
“People remember the heyday when there were four department stores, a big food court and specialty stores,” Gallo said. “With access to three major highways, you would think retail would flourish, but once the anchor closed, there was no way to get people into these huge vacant buildings.”
Back at Pittsburgh Mills, Ziensic said Fraser officials have no way to step in and buy the mall. Instead, they will be burdened with angry shoppers who attack Mr. Dziensik’s phone to complain about potholes and ask whether the town is “getting rich” from the land. .
“Our hands are tied,” she said. “You can’t force them to sell it.
“They just take, take, take.”
