The mall was built in 1972, expanded and renovated in 1987 and again in 1996. Northpark Mall is located on Joplin’s main retail thoroughfare, Range Line Road. NorthPark Mall posted average mall shop sales of $308 per square foot in 2003. The property also includes two spaces that were formerly occupied by Montgomery Ward and ShopKo. Northpark Mall is a 991,076-square-foot mall that is currently 77.0% occupied and anchored by Famous Barr (The May Company), Famous Barr – Men’s, JC Penney, Sears and Hollywood Theaters. Laredo is recognized as the nation’s largest land port with more cross-border trade than California, Arizona, New Mexico and West Texas combined. With the closest competing mall over 140 miles away, Mall Del Norte serves a customer base of over 200,000 in its primary trade area and attracts consumers from Mexico including the immediately adjacent Nuevo Laredo (population of 650,000) and in Monterrey (population of 3.4 million), which is the country’s second largest industrial city. Located at the intersection of I-35 and Hillside Drive in Laredo, Mall Del Norte was originally built in 1977 and has been upgraded and expanded numerous times including a $2 million renovation of the food court and an expansion of the Beall’s store currently underway. Mall Del Norte posted average mall shop sales of $350 per square foot in 2003. The property also includes a space formerly occupied by Montgomery Ward. Mall Del Norte is a 1,198,199-square-foot single-level mall that is currently 88.0% occupied and anchored by Dillard’s, Foley’s, JCPenney, Mervyn’s and Sears, as well as a Beall’s, Foley’s Home store and Joe Brand. In both cases, we are confident we can leverage these favorable characteristics to create dominant, thriving mall franchises." The Mall Del Norte and Northpark Mall trade areas are similar to other border and middle market cities in our portfolio in terms of population and income growth, diversity of the economic base and lack of mall competition. In addition, there are opportunities to achieve greater efficiencies in mall operations, specialty leasing and marketing.
The properties offer significant opportunities to improve cash flow through re-tenanting and upgrading the malls and through creative use of the vacant anchor stores. The anchor stores are Vintage Stock, TJ Maxx, H&M, JCPenney, and Dunham's Sports.Commenting on the announcement, Charles Lebovitz, chairman and chief executive officer of CBL & Associates Properties, said, "These acquisitions play to the strengths of our company they each possess market dominant positions in their respective markets. Northpark Mall is managed by CBL & Associates Properties. The mall was also the temporary home of the 11th and 12th grades of Joplin High School until August 2014, when the new high school was completed. Freeman hospital added a soft play area in the Macy's women's court in the summer of 2014.
Northpark Mall is the largest mall in the Joplin region and serves a trade area of nearly 500,000 people. Today Northpark mall is 1,080,000 square feet, and features more than 100 inline tenants including a food court. The mall opened in 1972 with 600,000 square feet, and featured 60 stores, restaurants, and other services.
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