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Monday, September 26, 2016
Namdar Purchases Northfield Square Mall for $9.6M, Begins Repositioning
In July, Bradley’s Northfield Square Mall was sold to Namdar Realty Group for $9.6M. The privately held Great Neck, NY, real estate investment firm purchased the 527,000 SF shopping complex from C.W. Capital, Bethesda, MD. Spinoso Real Estate Group, North Syracuse, NY, formerly managed the property.

Namdar reportedly will actively manage the Illinois Route 50 property with an eye toward significant repositioning. Announced moves under consideration are pursuing outlot development, moving the anchors toward independent operations, lowering rents and remodeling. Among ongoing investment at the site, Movies 10 has undergone total renovation of its theaters and projection systems over the past 12 months.

Namdar owns and operates more than 20 million square feet of commercial real estate across the United States. Its portfolio includes retail centers, as well as medical and office buildings.

Northfield Square Mall opened in August 1990.