Eastdale Mall sold to private New York-based firm

Eastdale Mall sold to private New York-based firm
Montgomery's Eastdale Mall has been sold to a New York real estate investment firm.

MONTGOMERY, Ala. (WSFA) - Eastdale Mall has been sold to a privately held, commercial real estate investment firm, according to mall General Manager, Richard Holman.

New York-based Namdar Realty Group bought the mall off Atlanta Highway and Eastern Boulevard for roughly $24 million, Holman told WSFA 12 News.

Namdar owns dozens of malls across the country, including the Wiregrass Commons Mall in Dothan, and is considered to be one of the nation’s largest mall owners.

Eastdale opened its doors in 1977 and remained in the hands of the three families that developed it until this sale. A decision to put the property on the market was announced by the Aronov, Lowder and Moore families in early 2019.

Holman said the new owner has contacts with all the major national retailers and hopes to bring new stores and restaurants to its Montgomery property.

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