The long ill North Dekalb Shopping Center has found a new owner, according to a report by Decaturish. The website yesterday reported that North Carolina-based real estate developers EDENS bought the mall from a real estate private equity firm Sterling organization.

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A sale price was not communicated, but according to DeKalb County property records, in 2021, most of the mall was last appraised for $ 9,800,000, while the Macy’s the store itself was valued for $ 5,000,000. There is no indication whether all or part of the mall structure will be reused in future development.

Mall will likely be redeveloped as a mixed-use project, DeKalb County Commissioner says Jeff rader. Such a redevelopment would require the property to be rezoned from its current zoning from C-1 (local commercial) to MU (mixed use) zoning by the DeKalb County Council of Commissioners. The property is listed as a “downtown” location on the future DeKalb County Land Use Map.

The North DeKalb Mall is located in unincorporated DeKalb County, just west of the intersection of North Druid Hills and US-78. The mall opened in 1965 and, at its peak, housed 85 stores, a food court, and a multiplex cinema. However, like many indoor malls across the country, North DeKalb Mall sales and tenants have steadily declined since the early 2000s. A Costco store had been planned for the mall as recently as 2016, but the deal was never done. The pandemic dealt a final blow to the mall when the main section of the mall closed in October 2020. Only a few flagship stores remained open, while the main space and parking lots were periodically used for film shoots.

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