Sioux City, IO Newmark Knight Frank (NKF) has arranged the sale of the Southern Hills Mall. The single-story enclosed regional mall, which has a total gross leasable area of 571,465 s/f, sold for $55 million. The sales team was led by New York City-based executive managing director Thomas Dobrowski, in cooperation with senior managing director Jeffrey Miller.
Southern Hills Mall was constructed in 1980, renovated in 2007 and is anchored by tenants such as AMC Classic Southern Hills 12, Barnes & Noble, JCPenney, Scheel’s Sports, Sears and Younkers. The mall also offers eight outparcels consisting of national organizations such as Chick-Fil-A, Hy-Vee Grocery, Red Lobster and Wells Fargo. The property is strategically located directly off Interstate 29, the primary north/south thoroughfare connecting Sioux City with its neighboring communities.
“As the only enclosed regional shopping center within a 90-mile radius, Southern Hills Mall is a unique opportunity in the growing Sioux City market,” Dobrowski said. “Its strategic location—the fourth-largest city in Iowa, in an area that consistently ranks top for businesses—will help in ownership’s efforts to drive valuable traffic to the district and attract consumers to the western side of the state.”
NKF is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NKF’s 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents.