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Sandy City officials discuss sale of South Towne Center

Thursday, January 24, 20131410 views

South Towne Center will soon be under new ownership. Owner Macerich has put the mall up for sale, along with 15 other properties it owns across the country, said Sandy Mayor Tom Dolan.

Although it’s unlikely the mall will be closed, developing a relationship with the new owner is a big priority for Sandy City, Sandy City Economic Development Director Nick Duerksen said

The mall is a large part of Sandy City’s long-term Civic Center Master Plan project.

“We are interested to see how the sale of the mall will impact our master plan project,” Duerksen said. “This is a huge part of the project. Macerich has been given all the information about the project, but we don’t know what it will share with potential investors interested in purchasing South Towne.”

City officials are very interested in the sale process, but will have little to do with the sale or potential buyers. Duerksen said he hopes Sandy Citywill have the ability to know who the investors are so they can potentially provide them with information about the Civic Center Master Plan project.

Macerich Public Relations Officer Kimberly Hastings would not comment on the sale or about Sandy’s involvement in the process.

But Dolan said there are 15 other malls that will be part of this package, including malls in New York, Kentucky and California.

It will be business as usual at South Towne Center while the sale process goes on, according to Duerksen.

Duerksen said South Towne has had consistent sales numbers, especially over the last several years. He doesn’t anticipate the new owners will close the mall, but hopes instead they will make renovations to it and other improvements.

“South Townehas a great track record and solid sales,” he said. “This mall will be a very attractive part of the package for the right investor.”

Sandy City became aware of Macerich’s plans to sell the mall in December.  Dolan informed the city council on Jan. 8 that he had been informed that Macerich already has several buyers that have already expressed interest in the package.

“Whoever owns the mall has a lot of control over Sandy City’s future,” Dolan told the city council.

Duerksen said the future of the mall’s ownership is something city officials are watching very carefully. Macerich has been a large part of the master plan process, and Duerksen said that partnership will be missed when the sale is complete.

“We’ve always had a great relationship with Macerich in the past, and they will be missed in our community,” he said. “The unknown is always scary, but we are confident everything will work out for all parties.”

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