A lender foreclosed on part of Ingram Park Mall in 2021 and has now put the property on the market.
About three years after foreclosing on part of Ingram Park Mall, a lender has put it up for sale An entity affiliated with Morgan Stanley is seeking to unload about 22.9 acres of the 83.5-acre site at 6301 NW Loop 410 and 3202 Wurzbach Road . Its portion encompasses about 375,044 square feet of space across two parcels at the 1.
Group Inc. An asking price is not listed for the Northwest Side properties, which the Bexar Appraisal District values at $72.2 million. highlighted opportunities to redevelop or fill vacant space and a contractual right to purchase the space occupied by Macy’s “at a dramatically below market price” if the department store closes. Other anchor tenants such as Dillard’s and JCPenney also own their space at the mall, which is 88.8% leased.
said. More stores, restaurants closing in San Antonio area, but space may not be empty for long In 2021, the Morgan Stanley affiliate, MSCI 2011-C2 Ingram Park Mall LLC, bid $100.7 million for the property at a foreclosure auction. Simon Property Group Inc., an Indiana-based real estate investment trust, built the mall in the late 1970s. A regulatory filing showed Simon had borrowed $122.3 million on the mall and owed roughly $9.7 million in principal and interest annually.
Northwest Side Morgan Stanley Simon Property Group Inc. C2 Ingram Park Mall LLC Jcpenney Dillard's Bexar Appraisal District Macy's Namdar Realty Group CH Capital Group Kohan Retail Investment Group Ingram La Cantera Simon MSCI 2011 Ingram Park Mall San Antonio South Park Mall North Star Mall Rolling Oaks Mall Wurzbach Road NW Loop 410 North Star Shops At La Cantera Americas Green Street New York Balcones Heights Indiana B+ Mason Asset Management Wonderland
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