Namdar Reality Group: The $2.7 Billion Cheapskates. They’re known for buying malls that have potential to get better, and they do absolutely nothing with them. They just sit in decay. They’re just as awful as Moonbeam.
I don’t think I’ve ever seen a store like FootLocker move out of a mall into a nearby shopping center. It’s a definite red flag that Namdar is neglecting the malls!!
Crystal Mall in Waterford is needing proper maintenance none of the elevators work and it also needs work on the parking lot and inside only one bathroom is usable that's in the food court area Good luck trying to find a place to do number two That's what happens when you increase rent
We miss malls. Hate outdoor strip malls. Enjoy Shopping inside when the weather is bad, like rain, snow, ice, heat. So many awesome memories of mall madness, midnight skating, Christmas, Easter, Halloween events. So many different things that use to go on. Portable petting zoo, arcades, chess tournements, craft shows, scouts bake sale, Veterans events...etc ..
If I were a mall owner who was looking to sell, I would not sell to Namdar since they have a poor reputation. Instead, I would look for someone else with a better reputation.
no one will buy the mall when business in them keep getting shoplifted. this a big problem with all malls in the united states and stores that are not in malls.
Exactly. Why put all your hard work and money into a property just to sell it to a company that does not give a shit at all? My childhood mall, was owned by Gumberg Asset Management, but due to bankruptcy from Covid, Namdar bought the mall and absolutely killed it. It’s so dead and empty now. Now with the loss of rue21, that just hurt even more. I would’ve sold the mall to PREIT or Simon for example. Especially Simon. Namdar, Kohan and Moonbeam are the 3 reasons why malls are dying today.
Simon still owns 3 of the 4 top malls in the Boston area while Brookfield owns the Natick Mall. Chances are pretty good the Burlington Mall, Natick Mall, Northshore Mall, and the South Shore Plaza will continue to thrive. I know of a number of restaurants and retailers who will not consider opening locations in the lower grade malls particularly the ones owned by Kohan and Namdar.
@@arosenweig What pisses me off most about Namdar is the fact how much they’re worth: $2.7 billion fucking dollars. And the fact they don’t spend a dime on any of their malls is cruel. They have the opportunity to make their malls thrive again and they can definitely afford it, look at their office building for example. My childhood mall has a Walmart attached to it, and also has a TJMaxx and ULTA Beauty. Sears, JCPenney and Bon-Ton all sit vacant. They could seriously use that as a perfect opportunity to add more stores to the vacant spaces especially with the Walmart and TJMaxx in tact. But… they won’t. Cause all they care about is money. If PREIT or Simon owned the mall, it would’ve been completely filled. I hate Namdar so much. I’m so sick of going to my mall which is absolutely gorgeous as well just sit empty and dead.
Namdar has always been a sketchy company and I’m honestly shocked more people haven’t caught wind… I mean, it sounds borderline illegal, but it’s probably one of those situations where everything is technically legit, but it’s all shady. Any mall owned by Namdar are doomed to spiral and fall apart unless another landlord acquires such properties.
@@kauzpayne2 no I witnessed stores from a Namdar owned mall moving into nearby shopping centers. The problem is greed! It’s this corporation charging an arm and a leg and not pumping the money back into the mall.
