Description

Jones Lang LaSalle Americas, Inc. ("JLL"), as exclusive advisor, is pleased to present the opportunity to acquire Parkdale Mall and Crossing (the “Property” or the “Mall”), a dominant regional retail Destination strategically positioned in Beaumont, Texas – approximately 85 miles west of Houston. The Property is situated on approximately 145.3 acres, ~93.0 of which are owned, and consists of the Main Mall (Parkdale Mall), Parkdale Crossing, comprising two (2), multi-tenant strip parcels and one (1) single-tenant pad, and an additional nine (9) single-tenant pads and three (3) two-tenant, pads. The Property consists of approximately 1,324,449 square feet of gross leasable area (“GLA”), 828,614 SF of which is owned, and includes anchors Dillard’s (203,000 SF, non-owned), JCPenney (169,100, non-owned SF), and a dark, former Sear’s (115,732 SF, non-owned).

Strategically located at the intersection of US-96 (~70,400 VPD) and Dowlen Road (~23,250 VPD), Parkdale Mall and Crossing serves an extensive trade area of over 420,000 people and benefits from a highly visible location. The Property’s dominance is solidified by a lack of immediate competition, with the next nearest regional mall located over 21 miles away, establishing Parkdale Mall and Crossing as the undisputed primary shopping hub for the region – evidenced by exceptional performance metrics, including approximately 8.5 million annual visitors, which ranks it in the top 1% of all shopping centers nationwide according to Placer.ai.

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