Business & Tech
SouthPark Mall Sold To East Coast Firm
The major retail complex is now under new ownership, according to reports.
STRONGSVILLE, OH — SouthPark Mall in Strongsville has been sold to a private investment firm.
The mall was purchased by a company related to Kize Capital LP, an East Coast hedge fund, according to reporting by Crain's Cleveland. The sale was brokered by CBRE's National Retail Partners, Rebusiness Online noted.
SouthPark Mall is a 1.4 million square foot shopping complex located at 500 Southpark Center. Major retailers at the mall include Dick's Sporting Goods, Cinemark, Kohl's, Macy's Dillard's and JC Penney.
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SouthPark Mall was owned by Starwood Capital Group, which purchased the property in 2012.
It's unclear if COVID-19 and its related economic fallout motivated the sale of the mall. SouthPark was briefly closed at the onset of the pandemic, when all retail locations were shuttered by state mandate.
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The mall reopened in May 2020 with new safety measures in place.
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