The Gallery at South DeKalb was sold to the Namdar Realty Group during a December 2021 auction, for roughly $19.3 million. The mall’s previous owner, Thor Equities, defaulted on a commercial mortgage-backed securities loan, leading to the recent sale.
The mall opened in 1968 and has recently acquired several vacant storefronts, including anchor tenants such as Macy’s. The Namdar Realty Group specializes in regional malls and other commercial real estate. The company has partnered with Mason Asset Management to oversee leasing efforts.
“Namdar Realty Group does not own the former Macy’s box, but we are actively working on backfilling the former movie theater and Fallas Discount Store,” said Igal Nassim, director of leasing at Mason Asset Management.
Donna Smiley is the lead commercial broker working with management and ownership to aid with the revitalization of The Gallery at South DeKalb. The mall spans 71 acres and over 800,000 square feet. There is open space for a movie theater, and potential spaces for an event center and gymnasium.
“The property has transitioned to new ownership; [I was] approached to be involved with this project several weeks ago,” Smiley said. “I reached out to The Gallery at South DeKalb inquiring about a space for one of my existing clients. During the negotiation, management reached out and asked if I would be interested in leading the leasing efforts for the mall. For me, that was an easy decision, being that this mall has been a pillar in the community for a very long time.”
Her responsibilities will consist of sourcing a diverse new set of tenants that will hopefully bring a renewed energy to the mall. Smiley’s goal is to bring more entertainment, food court options and more national brands to the shopping center.
Mall management is hopeful that the Gallery at South DeKalb can make a significant positive impact on the surrounding community.
“The mall is committed to serving DeKalb County, and is looking forward to hosting events that benefit and bring the community together,” general mall manager Tene Gallemore said. “We are currently holding early voting on the property through May 20th.”