West Oaks Mall Comes Back to Life

West Oaks Mall is a well renowned mall in Texas which has been sold out of foreclosure. Los Angeles based Pacific Retail Capital Partners recently purchased it for $15 million. Steve Plenge of Pacific Retail believes the mall is in an idea location known to be a great trade area. Although major retailers J.C. Penney and Mervyn’s have vacant lots in the mall, the mall still has three main retail anchors such as Macy’s, Dillard’s and Sears.

The mall is currently 60% occupied. The new mall owners have plans in work to rake in more leased tenants and other marketing and management operations. Focus will also be placed on exterior enhancements. West Oaks is one of the few U.S. malls to have been sold this year – as property sales declined and credit remained tight.