STERLING – Northland Mall has a new owner.
The mall was put up for sale on an online auction that ran Oct. 28-30 through Ten-X Commercial Real Estate.
The property is in escrow; details on who bought it will be available once the sale is finalized, Ten-X said on its website.
The starting bid was $600,000 for the 292,000-square-foot-mall at 2900 E. Lincolnway, which is about 36 percent occupied.
Only one of the three anchor spots at the mall, which opened in July 1973, is occupied, by Dunham’s Sports. Original anchors Bergner’s and JCPenney closed in the past 2 years. Dunham’s lease runs through 2024.
Namdar Realty Group, a privately owned commercial real estate investment and management firm based in Great Neck, New York, bought the mall in December 2017 from Denver-based J. Herzog & Sons.