While Simon Property Group and other property managers start to reopen their malls as stay-at-home orders begin to expire, one owner has decided to permanently close a major retail center in Durham, North Carolina, for good because of the extreme financial difficulties caused by the coronavirus pandemic.
North Carolina Mall Becomes First Super Regional Mall to Permanently Close From Pandemic
Northwood Retail Closes Northgate Mall in Durham as Tenants Face 'Extreme Financial Difficulties'
By Tony Wilbert
CoStar News
May 5, 2020 | 3:58 P.M.
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IN THIS ARTICLE
- Properties
- Northgate Mall
1058 Club Blvd, Durham, NC
- The Shops at Northgate
1720 Guess Rd, Durham, NC
- Companies
- Northwood Retail
Real Estate
- Contacts
- Jonathan Stewart
Partner, Piedmont Capital
- Shlomo Chopp
schopp@terrastrats.com, Terra Strategies, LLC