Horton Plaza is in escrow.
According to 10News, the current owner, Unibail-Rodamco-Westfield, has reached an agreement to sell the mall to Stockdale Capital Partners, a company specializing in developing underperforming and obsolete real estate.
Many would agree that Horton Plaza qualifies on both counts.
Several stores (including Nordstrom and Jessop’s Jewelers recently) have fled the mall, leaving the iconic structure feeling empty. One store still there is Jimbo’s Naturally, a grocery selling organic and non-GMO foods.
On May 22, Jimbo’s filed suit against Horton Plaza, alleging that the mall failed to operate as “a first-class regional shopping center,” as it was contractually obligated to do.
In 2012 Jimbo’s owner, Jim Someck, signed a 15-year lease and opened the Horton Plaza store investing significant resources in it. His lawsuit contends that the mall has become crime-ridden and unwelcoming and that the environment has caused him to lose millions of dollars in sales.
