October 31, 2014

Starwood Capital Group Buys Northlake Mall For $248 Million

Starwood Capital has purchased recently the Northlake Mall for $248 million.

The shopping center, located at West W.T. Harris Boulevard and Interstate 77, was one of the seven shopping centers that Tauban Center Inc. sold to Starwood, a $1.4 billion deal announced last summer. Starwood also owns One Wells Fargo Centre office tower situated at uptown Charlotte.

Northlake mall, constructed last 2005, has more than a million square feet of leasable space. According to Charlotte Business Journal, this mall is considered one of the biggest shopping centres in Charlotte.

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