Speculation over who would purchase Midway Mall and what they planned to do with the shopping center dominated much of the year. But it all came to a head this summer, when the mall was sold at auction in July and the new owner was revealed in August as Igal Namdar.
The owner and president of the privately held investment and management firm, Namdar Realty Group, purchased Midway Mall at auction for just under $4.5 million through a limited liability corporation, Elyria Realty. Namdar has not publically announced any plans for the mall, but Mayor Holly Brinda has portrayed a cautiously optimistic outlook while also working on deals related to property surrounding the mall to help strengthen the overall area.
One such deal is a plan that would see Johnny K’s Powersports, a retailer of recreational vehicles and boats, turn the former Macy’s department story into its flagship location, offering the mall as a new anchor. City officials are backing the plan with a $500,000 investment loan and tax incentives in the hope it will attract others to the mall.
- Johnny K's Powersports has until 2033 to repay loan from Elyria CIC
- 2017 in review
- Johnny K's Powersports wants old Macy's spot at Midway Mall
- Discount clothing store plans permanent location in Elyria
- Consultants want to turn previous plans into reality for Elyria economic development
- Brinda sees loan as a plus
- Elyria Mayor Holly Brinda wants to lend unnamed business $500K
- New Midway Mall owner revealed
- Identity of Midway Mall buyer remains unknown -- even to Elyria council
- Midway Mall sold for $4.25M at auction
- Midway Mall appears sold at auction
- Shoppers flock to pop-up discount fashion retailer
- Midway Mall listed on auction website
- Elyria mayor says Midway Mall targeted to be sold in July
- Sears officials announce closing of Midway Mall store
- Midway Mall Payless to close as parent company restructures in bankruptcy