Exclusive: Eastdale Mall in Montgomery Sold
As Alabama News Network broke Exclusively earlier today, Eastdale Mall in Montgomery has been sold. The sale has been confirmed by Richard Holman, the mall’s general manager.
Namdar Realty Group is the buyer. It is a privately-held commercial real estate investment and management firm with more than 250 properties across 32 states. The company already owns properties in Alabama, including Wiregrass Commons Mall in Dothan.
“They’re looking to come into Montgomery and begin a partnership here and help this mall grow and be a better place,” Holman told Alabama News Network.
“The do business with every major retailer in the United States. We have have some great stores and we’ve already got great people out here, and people just want to see this mall be successful,” he said.
The vision is to revitalize the mall and add more stores and food options. The mall now has around-the-clock security through the Montgomery Police Department.
Eastdale Mall opened in 1977. Like many malls, it has been affected by customers who have switched to online shopping. In recent years, the mall has lost Sears as one of its anchors, which was replaced by At Home. Last fall, Chick-fil-a closed in the Food Court.
But the mall has been undergoing renovations, including investing $250,000 on new air conditioning units last year. It also held a “Noon Year’s Eve” family-friendly balloon drop to usher in 2020 earlier this year.