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Woodmont Shopping Enclosed Malls for New Deals

FORT WORTH-Some 3.55 million sf of leasing assignments have been added to Fort Worth-based Woodmont Co.'s responsibilities. The package represents the first "enclosed mall" contracts for a new initiative.

By Connie Gore | Updated on April 10, 2002

FORT WORTH-The Woodmont Co., headquartered in Fort Worth, is venturing into new territory in a push for “enclosed mall” leasing assignments. Three Texas malls and one in Roswell, NM have jumpstarted the initiative with more than 3.55 million sf.

Woodmont associate Eddie Myers tells GlobeSt.com that the four deals are just the beginning. Myers, who specializes in enclosed mall assignments, joined Woodmont 10 months ago and has been working on the initiative ever since. He admits he is targeting a niche market of ownership since many enclosed malls are controlled by the big boys in the industry either through in-house teams or third-party affiliates. Myers fervently believes there’s room for some competition, particularly for properties controlled by institutions or smaller private investors. Management contracts as well as leasing pacts are on Myers’ radar screen.

The catches to date consist of a three-mall portfolio of Alliance Management Inc., an affiliate of Los Angeles-based Alliance Retail Group, and the Roswell Mall, owned by Zuber Properties RM Inc. of Waco, TX. The Texas malls are the 1.2-million sf San Jacinto Mall at 1496 San Jacinto Mall near Interstate 10 in Baytown; 1.7-million sf Greenspoint Mall at 12300 N. Freeway in Houston; and 245,00-sf Crossroads Mall at 6834 Welsey St. in Greenville, situated 40 miles east of Dallas.

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