The region’s largest shopping center, Kirkwood Mall, will soon be under new ownership. CBL & Associates Properties has announced intentions to purchase full ownership of Kirkwood Mall . CBL had already bought a 49% share of the mall last month, this transaction will put the property under full CBL ownership. CBL also bought Minot’s Dakota Square Mall last year.
Kirkwood was put up for sale back in 2011 as well, for the first time since 1987.
According to an article by Zacks, Kirkwood was 87.9% occupied in September 2012.
About Kirkwood Mall
Kirkwood Plaza, as it was originally known, was developed by cousins Paul and James Wachter. It had been a decades-long dream, specifically of Paul Wachter.
The anchor housing Woolworth’s was the first part of the shopping center completed, opening in November 1970. Kirkwood Plaza officially opened in April 1971, followed by a Grand Opening ceremony the following month with Robert Kirkwood, the mall’s namesake, in attendance.
Kirkwood originally consisted of 39 tenants, including 3 anchor stores: Woolworth’s, Herberger’s, and Montgomery Wards. In 1977, Kirkwood began the construction of a southern wing that saw the addition of 2 new anchors – Target and J.C. Penney – when completed in 1980. The center has undergone 2 notable renovations since, in 1985 and 2002.
