The Dillard’s (NYSE: DDS) department store chain has purchased the Dallas-area Longview Mall for $34 million, according to a Wall Street Journal report sourced from an unnamed “person familiar with the matter.”
It is rare for chain store retailers to buy an entire mall, but there have been a few notable cases – Walmart acquired the Monroeville Mall near Pittsburgh earlier in the year for $34 million while Home Depot purchased Virginia’s Charlottesville Fashion Square in 2022. The acquired mall in Longview, Texas, is a favorite shopping destination of Dillard’s CEO Bill Dillard, who swooped in with his checkbook when it recently became available.
Dillard’s is headquartered in Little Rock, Arkansas, and owns the majority of its 272 stores. The 638,000-square-foot Longview Mall opened in 1978 and also includes JCPenney, Dick’s Sporting Goods, Conn’s Home Plus, and HomeGoods as its anchor stores. The mall was part of a portfolio being sold by Washington Prime Group, and Trademark Property – which partnered with Dillard’s on the purchase – will lease, manage and operate the venue.
