Northbrook, Ill. -- StreetMac Asset Managers announced that an affiliate has purchased the Brazos Mall in Lake Jackson, Texas, and the Shawnee Mall in Shawnee, Okla., through a joint venture with an affiliate of Stamford, Conn.-based Five Mile Capital Partners. The seller was Lightstone Properties.
The two malls have a combined 1.14 million sq. ft. of leasable retail space. Terms were not disclosed. The acquisitions represent StreetMac’s inaugural purchases of retail malls in markets nationwide.
Chicago’s Urban Retail Properties will serve as the property manager and leasing agent for both malls.
Brazos Mall is a 682,831-sq.-ft. regional shopping center anchored by Dillard’s, J.C. Penney, Sears and the Starplex Cinema, with junior anchors that include Ross, Palais Royal and Powerhouse Gym.
Shawnee Mall is a 453,861-sq.-ft. regional mall anchored by Dillard's, J.C. Penney, Kohl’s and Sears.