Citrus Heights, CA Attorney News Archive

HAYWARD, CALIFORNIA — Namdar Realty Group, led by CEO Igal Namdar, has made headlines by acquiring the Southland Mall for $70 million in an all-cash deal. This purchase has sparked concern in the local community, particularly regarding the potential for bankruptcy and the ongoing underperformance of retail spaces.

The Southland Mall spans 1.1 million square feet and is strategically located near the intersection of Interstate 880 and West Winton Avenue. While it is home to well-known anchors like Macy’s and JCPenney, the mall has been struggling, particularly after the closure of its former Sears store.

Local officials in nearby Citrus Heights have voiced their dissatisfaction with Namdar’s business practices, citing numerous violations associated with properties they manage. As California’s market for distressed retail properties shifts, community leaders are closely monitoring developments that may necessitate legal actions under real estate law.

This acquisition by Namdar Realty Group underscores the ongoing challenges and evolving strategies within California's commercial real estate sector, particularly in the realm of business and corporate practices.