A Kansas City-based real estate developer has bought the Dillard’s property at the former Six Flags Mall in Arlington, its second purchase at the shopping center site since November.
NorthPoint Development, which has built industrial projects and apartment communities, primarily in Missouri, in late January bought the Dillard’s Clearance Store and the adjacent parking lot from the Little Rock, Ark.-based retailer, deed records show.
In November, NorthPoint also bought 13.3 acres on the east side of the mall, records show.
Chad Meyer, NorthPoint’s president and chief operating officer, said the company purchased the property on a speculative basis and plans to hold it long-term. It could be a couple of years before it’s decided how to develop the land, he said.
On its website, NorthPoint calls the property Arlington Logistics Center.
In the meantime, Meyer said Dillard’s has the option of continuing its operations at the location.
Dillard’s spokeswoman Julie Bull said the company has not made any announcements about the store, but that it is still open.
Meyer declined to say whether NorthPoint is under contract to buy the entire former shopping center site, now known as Plaza Central.
Plaza Central was a project of Fort Worth businessman G.L. “Buck” Harris, who once operated a large antique mall in west Fort Worth. Harris bought the property in December 2012 and attempted to reopen the defunct Six Flags Mall as a Hispanic-themed shopping center in July 2014.
Harris could not be reached for comment about a possible sale. He bought the property from the International Bank of Commerce, which foreclosed on the previous owner in 2008.
NorthPoint Development focuses on industrial, multifamily, and senior living projects in the central part of the U.S., according to its website.