Overview
- Macerich, which closed the deal Wednesday, paid $260 million for the 1.5 million‑square‑foot mall and $12 million for an adjacent 13.1‑acre Sears parcel.
- The company funded the purchase with cash on hand that included about $85 million raised via its share‑sale program and $150 million drawn on its revolving credit line.
- Macerich plans about $40 million in leasing capital to refresh the tenant mix, with 353,000 square feet of committed openings scheduled across 2026 and 2027.
- A 116,000‑square‑foot Dick's House of Sport is slated to open in August 2026, alongside additions such as Dave & Buster's, Tesla, Uniqlo, and an expanded lululemon.
- The deal excludes Macy's while the vacant JCPenney is being re‑tenanted, and the separately purchased Sears corner offers a prime site for future mixed‑use or retail development.