Business
Business

Southlake Mall sold to California firm

Southlake Mall is 90 percent occupied, according to Vintage Real Estate, and has annual sales of more than $100 million.

Credit: Credit: Vintage Real Estate

Credit: Credit: Vintage Real Estate

Southlake Mall is 90 percent occupied, according to Vintage Real Estate, and has annual sales of more than $100 million.
By Arielle Kass
April 2, 2014

Southlake Mall in Morrow, foreclosed on last year, was purchased by a Los Angeles real estate company that has been buying malls across the country.

Vintage Real Estate plans to spend millions of dollars to develop an adjacent building left empty by JCPenney in 2011, according to an emailed statement. The company will also work to add fashion retailers and popular restaurants to “bring in tenants currently missing” from the mall, the statement said.

“We have the capital and experience to transform it into a thriving and popular destination for the Atlanta metro area,” Vintage chairman Fred Sands said in the statement.

Southlake is 90 percent occupied, according to Vintage, and has annual sales of more than $100 million.

The mall had been owned by General Growth Properties before it was foreclosed on. Across metro Atlanta, it was one of several troubled malls. Union Station Mall — formerly known as Shannon Mall — closed in 2010, and will be demolished to make way for a business park. Gwinnett Place Mall was foreclosed on in 2012, and is now under new ownership. Malls in Macon, Gainesville and Rome were foreclosed on in recent years and remain open.

About the Author

Arielle Kass covers Gwinnett County for The Atlanta Journal-Constitution. She started at the paper in 2010, and has covered business and local government beats around metro Atlanta. Arielle is a graduate of Emory University.

More Stories

Keep Reading

Home Depot is an economic bellwether and its financial results are closely watched as a gauge of consumer spending and the housing market. (Hyosub Shin / AJC file)

Credit: HYOSUB SHIN / AJC

Home Depot cuts outlook amid housing slump and consumer uncertainty

Home Depot said its net income dipped to $3.6 billion during the third quarter, down 1.3% from the same period last year.

Global software firm announces Atlanta expansion with 250 new jobs

Sales software company Salesforce announced Tuesday it will invest $15 million to expand its Georgia operations, adding 250 new jobs to Fulton County by the end of 2028.

Downtown Atlanta’s Hotel Phoenix takes flight, sets opening date

The opening comes as Centennial Yards and its parent, CIM Group, push ahead on several key projects across the 50-acre site, the largest project the city has seen in decades.

The Latest

Older model used vehicles for sale at an independent dealership in Chattanooga, Tennessee, on Nov. 11, 2023. Photo courtesy of Chris Hardesty.

Credit: Special

Beyond the odometer: What matters most in a used car

Why your car’s safety tech needs maintenance, too

OPINION

Saying goodbye to the Porsche 718 Cayman — for now

Featured

Rose Scott signals as Closer Look goes on air in the WABE studio. An Atlanta resident left WABE a $3 million donation, a boost after WABE lost $1.9 million in annual funding from the Corporation of Public Broadcasting. (Ben Gray / AJC file)

Credit: Ben Gray

Donor leaves WABE $3 million, largest individual gift in station’s history

An Atlanta resident has bequeathed WABE a $3 million donation, the largest one-time individual donation in the nonprofit media operation’s 76-year history.

Usher sues business partners over failed Buckhead restaurant plan

Atlanta singer Usher wants his money back after loaning $1.7 million to music producer Bryan-Michael Cox and others to buy a Buckhead restaurant property for $6.3 million.

Braves’ original ‘Freeze’ is retired. But you probably still can’t catch him.

As the Atlanta Braves prepare to find their next sprinting mascot, Nigel Talton is enjoying his new career coaching high school athletes at McEachern High.