The former Sears store at Lindale Mall has been sold.
Mall general manager Becky Eckley said Thursday, Jan. 18 that the building has been purchased by Reserve Development, a Dallas, Texas-based investment company led by managing partners Jeff Strong and Sean Porter.
The purchase price was not disclosed, but the property was last assessed at a value of $3.82 million.
“Our goal is to always design a properties experience that maximizes business value for the user, fosters a sense of community and enhances the physical experience and environment for our tenants, their employees, and customers,” Reserve Development officials said in a release announcing that the Sears store at Lindale had been sold.
““We are excited to work with our new neighbors and witness the ongoing redevelopment.” Ms. Eckley added.
The 146,278-square-foot Sears store at Lindale Mall opened in 1960 and closed in July 2018 as the last Sears location in the Corridor. Since then, the building has been owned by Seritage Growth Properties separately from the rest of the mall, which was purchased by New York-based Kohan Retail Investment Group in July 2023 for $28.5 million.
Reserve Development lists several development projects on its website, including a Tesla warehouse in Council Bluffs.
