Albany, Ore. -- Vintage Real Estate announced that the company has acquired Heritage Mall, located in Albany, Ore.
The 406,500-sq.-ft. mall features more than 50 major retailers, boutiques and restaurants including Target, Sears, Ross Dress for Less and Old Navy, Maurice’s, rue 21, Zumiez, Famous Footwear, Game Stop and Bath & Body Works. It was remodeled in 2006 and is 50% occupied.
The Heritage Mall acquisition is the first retail property investment for Vintage in Oregon. The mall was purchased from a consortium of lenders; the transaction removed $38 million in debt from the property.