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Westgate Mall in Spartanburg sold to New York firm for $15M

Jason Thomas //June 24, 2024//

SVN Blackstream, in collaboration with SVN Second Story, headquartered in Chattanooga, Tenn., and San Diego-based SVN Vanguard, have sold WestGate Mall in Spartanburg to Namdar Realty Group, a commercial real estate investment and management firm based in New York for over $15 million. (Photo/SVN Blackstream)

SVN Blackstream, in collaboration with SVN Second Story, headquartered in Chattanooga, Tenn., and San Diego-based SVN Vanguard, have sold WestGate Mall in Spartanburg to Namdar Realty Group, a commercial real estate investment and management firm based in New York for over $15 million. (Photo/SVN Blackstream)

SVN Blackstream, in collaboration with SVN Second Story, headquartered in Chattanooga, Tenn., and San Diego-based SVN Vanguard, have sold WestGate Mall in Spartanburg to Namdar Realty Group, a commercial real estate investment and management firm based in New York for over $15 million. (Photo/SVN Blackstream)

SVN Blackstream, in collaboration with SVN Second Story, headquartered in Chattanooga, Tenn., and San Diego-based SVN Vanguard, have sold WestGate Mall in Spartanburg to Namdar Realty Group, a commercial real estate investment and management firm based in New York for over $15 million. (Photo/SVN Blackstream)

Westgate Mall in Spartanburg sold to New York firm for $15M

Jason Thomas //June 24, 2024//

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A Spartanburg mall with several national retailers has been sold.

SVN Blackstream, in collaboration with SVN Second Story, headquartered in Chattanooga, Tenn., and San Diego-based SVN Vanguard, have sold WestGate Mall in Spartanburg to Namdar Realty Group, a commercial real estate investment and management firm based in New York for over $15 million, according to a news release.

WestGate Mall, a 431,306 square foot regional mall, is located on a 52-acre lot at 205 W.  Blackstock Road in Spartanburg, with over 80 stores that include major department stores, national retailers and local businesses, according to the release.

The mall, which was built in 1975 and renovated in 1996, holds well-known tenants such as Bath & Body Works, H&M, and Victoria’s Secret and is surrounded by national retailers including Target, Hobby Lobby, Sam’s Club, Lowe’s, Regal Cinemas and Home Depot.

The transaction was led by the Reedy River retail team led by Senior Vice Presidents Dustin Tenney and Daniel Holloway.

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“The NY-based business plans top do some remodeling but will keep the property operating as a mall,” says Dustin Tenney of SVN Blackstream’s Reedy River Retail team. Reedy River Retail navigated a number of complexities and executed a comprehensive marketing strategy that attracted multiple offers, ultimately securing a sale with an experienced mall operator. This achievement highlights the team’s ability to deliver exceptional results for their clients.

SVN Blackstream’s Reedy River Retail team, based in Greenville, SC, specializes in all aspects of retail real estate, including landlord and tenant representation, investment sales, and retail development. Their extensive experience and passion for the retail sector make them a leading choice for clients seeking superior brokerage services.

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