The firms plan to re-tenant the mall’s vacant Mervyn’s big-box store and add new amenities, including elevated dining options, entertainment offerings, and a reimagined food court.
The Antelope Valley Mall is the second property acquired by Bridge Group Investments and affiliates with support by Steerpoint Capital. In April, the firms acquired The Shops at Montebello.
“Having grown our family business from a single brick and mortar store to over 170 retail locations across the country, we know what works and have confidence in Steerpoint Capital’s investment strategy,” said George Mersho, Managing Principal of Bridge Investment Group. “This is a unique time in the lifecycle of commercial real estate, particularly retail, and with the right approach, there is an opportunity to transform obsolete properties while generating strong financial returns.”
Steerpoint Capital is a Black-owned investment management firm led by Managing Partner Bo Okoroji, who previously served as the Head of U.S. Investments at Unibail-Rodamco-Westfield (URW) and held various senior roles at Simon Property Group. Over the course of his career, Okoroji has participated in over $11 billion in commercial real estate transactions.
“This property has tremendous potential. Its location, retail tenants, and reputation in the market have positioned it well for growth. With the right vision, the Antelope Valley Mall can continue to dominate in the retail arena and beyond in this market space,” said Managing Partner Bo Okoroji.
Okoroji added, “Bridge Group Investments brings decades of retail expertise and a proven track record of generating significant returns within the space. Its partnership will be invaluable to elevating the Antelope Valley Mall.”
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Palmdale resident says
Went by the Mall to get a burger at BJ’s Brewhouse and Restaurant at noon on Monday. Monday!
The restaurant parking lots were nearly full. On a Monday.
Why is everyone badmouthing the Mall? I don’t go there often but it’s nice to have it. Otherwise, you’re Lancaster with nothing.
What nearsighted people forget is that Mall isn’t just an isolated place. All the businesses on 10th Street West and Rancho Vista Boulevard are there mostly because of the Mall. It’s called “synergy”.
Finally, the Mall has also brought AutoZone and O’Reilly Auto Parts to the westside. See how synergy works.
By contrast, when Rex invented the blvd, there was no synergy then or now. The parallel and side streets have little to recomend them as they are mostly old residential. I’m not a city planner or developer but I knew that from the very start.
How come Rex didn’t know that? His buying that old McMahon’s furniture store for his law offices didn’t do anything to help. It’s funny that new development in Lancaster such as on Avenue K where Toys R Us was and further east doesn’t do much for the blvd other than draw business away from it. Laugh quietly to myself.
Why do you think Rex wants Palmdale to give money to Lancaster? His failed leadership needs it. Mississippi needs money from California, not because it has great leadership somewhat like the leadership Lancaster lacks.
Don’t tell Rex I said this. It will make him cry in his beard.
ACE says
THIS JUST IN…
THE NEW OWNERS SEE WHAT IS SUCCESSFUL NOWADAYS AND WHAT IS NOT…
THEY PLAN TO GUT THE JOINT AND SPLIT IT IN HALF…
HALF WILL BE A MARIJUANA GROW FOREST WONDERLAND…
WITH A MINIATURE TRAIN RIDE THROUGH THE LUSH MARIJUANA RAIN FOREST…
LIKE THE TIKI – TIKI – TIKI ROOM AND JUNGLE-LAND ALL IN ONE…
WITH WALK AROUND DISPENSARIES…
ALONG WITH HOOKAH LOUNGES…
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THE OTHER HALF OF THE PALMDALE MALL WOULD BE A NEW LUXURY INDIAN BINGO CASINO AND LAZY RIVER FOR TUBING…
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WHAT’S NOT TO LIKE..?
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THEY COULD HIRE OUT OF WORK JIM LEDFORD AS A GREETER…
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FT says
I am shoping online but my family does not stop to go to the mall for the dining.
Tim Scott says
Food courts aren’t meant to bring people to the mall. They are a profit center intended to create additional revenue from people who are already at the mall.
The Mayor of Stomptown says
I only eat at locally owned and operated restaurants.
Tim Scott says
So you count franchises?
Tim Scott says
Do you, not so you.
The Mayor of Stomptown. says
I avoid franchises. I prefer places that are completely unique.
although I think Crazy Otto’s is a franchise
Tim Scott says
Quick sidestep from “locally owned and operated” to “completely unique.” The first is a ‘civic duty’ perspective, the second is more a personal preference.
I like to explore the unique places, but it has pitfalls. The up side is that when there are out of town visitors I have no desire to take them out to some franchise place where the entire experience is something they could have gotten six blocks from their own house. The down side is that franchised restaurants there is a fair degree of certainty about what you can expect but in some “local flavored” places the experience is like biting into a turd sandwich. Usually that’s nothing to do with the food, it’s just that some places cater to and encourage ‘regulars’ that shouldn’t be allowed in public.
Fat Bearded Guy says
I am surprised the place wasn’t entirely bought out by Paradise Furniture.
Iconoclast says
Well, they can renovate all the want, but the demographics of the area have changed and the population’s shopping habits have changed, too. The people who frequented the upscale stores in the Mall shop online now.
Dr. Joe Early says
The mall is ghetto
Mall Cop says
You muar feel right at home, Dr. Joe Early
ACE says
LOL…
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