Stockton, Calif. — Family-owned real estate platform Mershops has acquired Weberstown Mall, an 800,000-square-foot regional shopping center located in Stockton, for $50.8 million. Originally opened in 1966, the center is anchored by JCPenney, Dillard’s and Barnes & Noble. Other tenants include Old Navy, Five Below, BoxLunch, Foot Locker, Lids, Victoria’s Secret and Journeys. Steerpoint Capital brokered the sale on behalf of Mershops. The seller was Washington Prime Group. This transaction marks Mershops’ sixth enclosed shopping center acquisition across California and Nevada.
Mershops’ current portfolio includes North County Mall in Escondido, California; Galleria at Sunset in Henderson, Nevada; Antelope Valley Mall in Palmdale, California; The Shops at Montebello in Montebello, California; Northridge Mall in Salinas, California; and two office campuses in Silicon Valley. The company plans to make reinvestments for each property, blending retail, hospitality and community elements.