DeSoto Square mall is up for sale once again, according to Namdar Realty Group’s listing website, hakimiproperties.com.
The next owner will be the 580,325-square-foot mall’s fourth since it was built in 1973 by former San Francisco 49ers owner Ed DeBartolo Sr. In 1996, ownership was transferred to Simon Property Group. The mall fell into foreclosure before Mason Asset Management, Inc. and Namdar Realty Group, under the name DeSoto Square Mall LLC, purchased it in 2012.
There is no listed price and interested parties are asked to inquire further.
The net operating income, according to the current sale listing, is $4.65 million. The mall is currently 71 percent full, though the Herald previously reported a slew of tenants leaving in March.
It was also revealed in April that DeSoto 6 Colonial Cinemas had a rat infestation and requires approval from the health department to reopen. Other tenants also reported pest issues. The cinemas were still closed as of Wednesday, according to a theater message.
Mall manager Sondra Anderson was not available for comment.