From anchor tenant to landlord: Dillard’s, a leading American department store chain, has partnered with mixed-use developer Trademark Property Co to acquire the 646,000-square-foot Longview Mall in Texas —a move that reflects the growing trend of investors purchasing and revitalizing established malls in pursuit of a retail refresh.
Longview Mall secures future as Dillard’s and Trademark take the helm
Dillard’s and Trademark Property Co. have teamed up to acquire Longview Mall in eastern Texas from Washington Prime Group (WPG). According to Monday’s announcement, Trademark will manage both operations and leasing at the shopping center, where Dillard’s continues to serve as a key anchor tenant.
“Dillard’s and Trademark will be good owners going forward,” WPG CEO Chris Conlon said in an email. “Good outcome for us and Dillard’s.”
Although the purchase price was not disclosed, the deal marks a promising development for older malls at a time when many have struggled to adapt. Longview Mall does not fall into the elite category of “A” malls once seen as the only survivors of retail’s decline, yet Conlon describes it as an “evergreen mall,” meaning its staying power is tied to its strong location and enduring relevance.
The property holds a unique position in the market as the only enclosed regional mall within a 45-mile radius. As Trademark founder and CEO Terry Montesi noted, it remains “a vital part of the region’s retail landscape.”
Dillard’s and Trademark plan major upgrades for Longview Mall
Longview Mall has long been a key hub for Dillard’s, Chief Executive Officer William Dillard noted in a statement. Moving forward, the strategy is to enhance both the property itself and the mix of tenants, according to Daniel Goldware, Trademark’s senior vice president of leasing.
Currently, the mall hosts a wide variety of retailers and eateries, including Dillard’s, Dick’s Sporting Goods, J.C. Penney, HomeGoods, Bath & Body Works, Foot Locker, H&M, Kay Jewelers, Auntie Anne’s, Chick-fil-A, and Chuck E. Cheese. Located in the heart of Longview, the mall attracts more than 3.7 million visitors each year.
“We believe this community will support better retailers and more offerings from Dillard’s and deserves a higher-level regional shopping destination,” Goldware said.
Trademark Property has previously overhauled La Palmera in Corpus Christi, Texas, another Dillard’s-anchored mall. Within just two years, “Trademark successfully transformed the property, establishing it as one of the top-performing tertiary market malls nationwide,” the company said. This experience suggests that the partnership with Dillard’s could indeed breathe new life into Longview Mall, improving both the tenant mix and the overall shopping experience.
How older malls are getting a second life
The sale of Longview Mall to Dillard’s and Trademark highlights a growing trend in retail real estate, where investors and retailers are revitalizing older malls rather than abandoning them. This category of malls has been drawing renewed attention: earlier this year, Walmart purchased a mall in the Pittsburgh area, and Simon Property Group announced plans to refurbish many of its B-class malls, as reported by Retail Dive.
For retailers like Dillard’s, taking ownership of a property provides an opportunity to control the tenant mix, boost foot traffic, and transform the mall into a stronger regional shopping destination—a strategy that increasingly appeals to both investors and local communities.
Source: Retail Dive