Newmark Knight Frank (NKF) is pleased to announce it has arranged the sale of the Southern Hills Mall in Sioux City, Iowa. The single-story enclosed regional mall, which has a total gross leasable area of 571,465 square-feet, sold for $55 million. The sales team was led by New York City-based Executive Managing Director Thomas Dobrowski, in cooperation with Senior Managing Director Jeffrey Miller.
Southern Hills Mall was constructed in 1980, renovated in 2007 and is anchored by notable tenants such as AMC Classic Southern Hills 12, Barnes & Noble, JCPenney, Scheel’s Sports, Sears and Younkers. The mall also offers eight outparcels consisting of national organizations such as Chick-Fil-A, Hy-Vee Grocery, Red Lobster and Wells Fargo. The property is strategically located directly off Interstate 29, the primary north/south thoroughfare connecting Sioux City with its neighboring communities.
“As the only enclosed regional shopping center within a 90-mile radius, Southern Hills Mall is a unique opportunity in the growing Sioux City market,” Dobrowski said. “Its strategic location — the fourth-largest city in Iowa, in an area that consistently ranks top for businesses — will help in ownership’s efforts to drive valuable traffic to the district and attract consumers to the western side of the state.”
About Newmark Knight Frank
Newmark Knight Frank (NKF) is one of the world's leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NKF's 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NKF's strong foundation makes it one of the most trusted names in commercial real estate. NKF's full-service platform comprises BGC's real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, valuation and advisory services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC's common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.