El Segundo, Calif. — El Segundo-based Pacific Retail Capital Partners has acquired a portfolio of three regional malls totaling 2.8 million square feet in a joint venture with an undisclosed partner.
The centers have a combined value of more than $200 million. Acquisitions include The Galleria at White Plains, an approximately 870,000-square-foot, four-level enclosed regional mall located roughly 30 miles outside of New York City in White Plains, New York; Northpark Mall, a 958,000-square-foot, two-level mall located roughly 10 miles outside of Jackson in Ridgeland, Mississippi; and The Esplanade, a more than 1 million-square-foot regional mall located roughly 13 miles outside of downtown New Orleans in Kenner, Louisiana.
The Galleria at White Plains is home to 130 retailers including Macy‘s, Sears, H&M and Forever 21. Northpark Mall is home to 120 retailers and eateries including Dillard’s, Belk, JC Penney, H&M, Victoria’s Secret, Footlocker and Sephora. The Esplanade is home to retailers including Dillard’s, Target, Macy’s, Victoria’s Secret and Old Navy. Orrick represented the joint venture in the acquisition. The seller was Simon Property Group.