NWA Mall Seems To Be Doing Well
by May 11, 2015 12:00 am 91 views
Good news for the Northwest Arkansas Mall in Fayetteville.
According to the latest commentary from CW Capital Asset Management LLC, the Maryland-based special servicer for the mall debt, the mall is in pretty good shape.
It needs about $6 million in capital improvements over the next five years, but for a 600,000-SF property, that’s pretty much routine. And according to the commentary, new and renewal leases on 12,000 SF of space are “out for signature,” and another 30,000 SF of new leases are under negotiation with “high-profile national tenants.”
Keep in mind that a yet-to-be named, 300-unit trailside apartment community, a project by Specialized Real Estate Group, opens up down the street from the mall in fall 2016.
That can only boost the mall’s staying power.