Coyote, Garrison acquire 1.6 million sq. ft. in shopping center space
Addison, Texas Coyote Management, L.P. and Garrison Investment Group said Thursday that, through their affiliates, they have acquired six regional malls and shopping centers totaling 1.6 million sq. ft.
The tandem acquired Lakeshore Mall in Gainesville, Ga.; Decatur Mall, in Decatur, Ala.; Promenade Montgomery Shopping Center and Promenade Montgomery North Shopping Center, in Montgomery, Ala.; Bellwood Center, in Montgomery, Ala.; and Quaker Village, in Greensboro, N.C.
Lakeshore Mall is a 517,153-sq.-ft. regional mall anchored by Belk, J.C. Penney and Sears. Decatur Mall is a 576,000-sq.-ft. regional mall anchored by Belk, Dillard’s, Sears, J.C. Penney and an eight-screen Regal Cinemas.
Promenade Montgomery Shopping Center, Promenade Montgomery North Shopping Center, Bellwood Center, and Quaker Village are all neighborhood shopping centers that serve densely populated communities throughout Alabama and North Carolina.
“These acquisitions represent the next phase of our company’s strategic growth initiatives,” said Coyote’s CEO and chairman, Michael E. Rulli. “We fully expect Coyote’s ownership of these kinds of assets to increase dramatically in the next two years.”