Already a subscriber? Log in
- Unparalleled business coverage of the Iowa City / Cedar Rapids corridor.
- Immediate access to subscriber-only content on our website.
- 26 issues per year delivered digitally, in print or both.
- Support locally owned and operated journalism.
Lindale Mall has been sold for $28.5 million in a transaction completed March 23, according to Cedar Rapids Assessor’s Office records. The sale transfers Lindale’s ownership from Washington Prime Group, based in Columbus, Ohio, to Kohan Retail Investment Group (KRIG), based in Great Neck, New York. The 723,666-square-foot Lindale Mall, at 4444 First Ave. NE, opened in September 1960 as Cedar Rapids’ first large-scale mall. It currently houses approximately 70 storefronts and service agencies in its enclosed structure, along with several peripheral businesses. The sale includes the main mall structure and nine other parcels as listed below, with their listed assessed valuations:
- The former Hy-Vee store at 279 Collins Road NE, $2,244,400
- Jared The Galleria of Jewelry at 159 Collins Road NE, $1,390,700
- Parking lot outside former Hy-Vee, $1,382,500
- Jo-Ann Fabrics store at 255 Collins Road NE, $1,322,300
- Five Guys Burgers and Fries, 157 Collins Road NE, $877,600
- Fantastic Escape, 4444 First Ave. NE, $855,400
- Vacant wooded parcel, 0 First Ave. NE, $1,100
- Vacant land and private road/yard lights (perimeter road), 0 First Ave. NE, $0
- Vacant land and private road/lights only (perimeter road), 0 First Ave. NE, $0