NewBridge Retail Advisors recently served as advisor in the sale of two Mississippi malls comprising Leigh Mall in Columbus and Greenville Mall in Greenville.
The total value of the transactions was not disclosed.
NewBridge represented the sellers, LB Lowndes MS LLC (Leigh Mall) and LB Washington MS LLC (Greenville Mall). The buyer of both malls was Security National Properties Funding.
Leigh Mall, a 308,398-square-foot regional mall, is anchored by Sears, JCPenney, and Books-A-Million. The mall is located on approximately 30 acres on Hwy. 45N and was built in 1973. The property was 86 percent occupied at the time of sale.
Greenville Mall, a 306,145-square-foot regional mall, is anchored by Sears, McRae’s, JCPenney, and Piccadilly Cafeterias. It is located on approximately 32 acres at the intersection of Hwy. 1 and Bowman Boulevard. Greenville Mall, built in 1972 and renovated in 1999, was 100 percent occupied at the time of sale.
NewBridge Retail Advisors Inc. provides services to retail asset owners and investors.
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