WESTLAND, MICH., AND SANTA FE, N.M. — Fort Worth, Texas-based Trademark Property Co. recently partnered with a private equity fund to acquire two enclosed regional malls in Michigan and Santa Fe. The fund purchased the properties, and Trademark will oversee their management and redevelopment.
The first property is Westland Shopping Center, a 1.06 million-square-foot property located in the Detroit suburb of Westland. The center's anchors include Macy's, Kohl's, Sears and JC Penney. Additional tenants include Panera Bread, Longhorn Steakhouse, Forever 21, American Eagle Outfitters, PacSun, Hot Topic and Express.
The second property is Santa Fe Place, a 571,238-square-foot shopping center located in Santa Fe. The mall is the only regional shopping center in northern New Mexico. Its anchors include Dillard's, JC Penney and Sears. Additional tenants include Hollister, Gap, New York & Co. and Victoria's Secret.
While Trademark is still determining future plans for the two shopping centers, it has mentioned its desire to reposition and redevelop Santa Fe Place. The company has experience in redeveloping malls, which can be seen in its ongoing redevelopment of La Palmera in Corpus Christi, Texas.
— Coleman Wood