Cohen & Company (CCIRE) has brokered 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.
CCIRE’s 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, but considered it a non-core asset that no longer fitted within the REITs portfolio.
