Southland Center in Taylor shopping mall sold to Illinois investment firm
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The Southland Center, the largest shopping mall in the downriver area, has been sold to Greenwood Global, a private investing group based in Glencoe, Illinois.
According to Crain’s Detroit Business, the sale was finalized on Dec. 30. The City of Taylor announced the sale on Facebook Saturday.
Alex Berman, who leads Greenwood Global, told Crain’s Detroit on Sunday his plan with the mall is to drive more foot traffic and keep it as a shopping mall, instead of redeveloping the lot into rental properties or mixed-use spaces.
“We like it because we believe it’s a strong mall in a strong market,” Berman told Crain’s. “We believe it’s a strong property with strong anchors in Macy’s, JCPenney, Best Buy and Cinemark. We also believe people in the area like the mall. We would like to keep it operational and add some leasing. That’s our strategy.”
Amy Jurecki, senior general manager for Southland, wrote in the announcement that the sale “is going to be an exciting new chapter for Southland.”
The 905,000-square-foot Southland Center was one of the original JL Hudson’s shopping malls. Like many malls, the facility has struggled financially over the last decade.
In 2022, the former owning agency, Brookfield Properties, defaulted on a $78 million loan, according to Crain’s. The City of Taylor said Jurecki was “always bullish” to preserve the shopping mall, despite financial trouble.
The city wrote that the Southland Center brought in more than $8 million in revenue during the first half of 2024.
Contact Liam Rappleye: LRappleye@freepress.com.
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