Outlets at West Branch sold

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WEST BRANCH — The Outlets at West Branch has a new owner, as the outlet mall was recently purchased by Namdar Realty Group and Mason Asset Management.

A representative from Namdar Realty Group confirmed the sale to the Herald last week, though few details were available at press time and representatives from Mason Asset Management could not be reached.

According to an article in the Toledo Blade, the two New York-based real estate investment firms also recently purchased the Shops at Fallen Timbers mall in Maumee, Ohio. The Blade reports that the two firms have partnered in recent years to buy dying or under-performing malls and shopping centers.

In April, the firms purchased three shopping centers in suburban Chicago, and in August Namdar bought a mall in Elyria, Ohio, with Mason agreeing to manage the property, the Blade reports.

The Outlets at West Branch mall office was closed last week, but the stores were still operating at press time.

Namdar Realty Group is a commercial real estate investment and management firm that owns more than 15 million square feet of commercial real estate in the U.S. Its portfolio includes a number of retail strip centers and medical and/or office buildings, according to the company’s website.

Mason Asset Management is based in Long Island, N.Y., and is a real estate investment and advisory company that specializes in the acquisition, management, disposition and leasing of commercial real estate properties in the U.S. The company was founded in 2010.

More information will be reported as it becomes available.

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