Helen Putterman, President, and Ric Kaiser, Senior Executive Director, of Cohen & Company, Inc. R.E. (CCIRE) are pleased to announce the sale of The Watertown Mall, a 303,000 square foot mall anchored by JC Penney, Herberger’s, Dunham’s Sports, Office Max, Hy-Vee, and a diverse merchant mix in Watertown, South Dakota. The mall serves the Watertown community, known as the “South Dakota’s Rising Star”, as well as cities in eastern South Dakota and western Minnesota.
Helen Putterman represented a New York City buyer, a private individual she had as a client since the 1980’s. The buyer owns many malls in tertiary cities and although the deal had many obstacles and challenges, he had the patience and foresight to meet the challenge.
Ric Kaiser represented the seller, a public Midwest REIT that had owned this asset for many years. This property was considered a non-core asset that no longer fit within the REITs portfolio. Helen Putterman, “The transaction was a ‘win-win’ situation for both parties.”
CCIRE, in conjunction with its affiliate offices, is one of the leading full service brokerage firms specializing in shopping centers and pad sites in the United States. The firm now has exclusive listings for the sale of shopping centers priced from $3,000,000 to $40,000,000 in Connecticut, Florida, New Jersey, New York, and North Carolina. Look for our newest exclusive, a redevelopment or leasing opportunity in Minnesota.
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