Sale of Heritage Mall in Albany Final

By Donna R. Green
Press Release
Dated: August 16th, 2005

The sale of Heritage Mall in Albany was completed last week on August 10, 2005. The 34 acre site is located on the north side of Fourteenth Avenue between Geary and Clay Streets in the heart of Albany and is well positioned to service many communities throughout Linn and Benton counties, in the greater Willamette Valley.

The Heritage mall has been purchased by Steadfast Companies, a privately held development company based in Newport Beach, California. All local staff members have been retained as part
of a team that will ultimately work to renovate and enhance the shopping center. “The community of Albany has always supported this shopping center and Steadfast has been preparing plans for multiple phases of renovation in order to provide the community with the kind of shopping center it deserves” says Dean Curci, the Project Manager in charge of its repositioning for Steadfast.

Throughout the acquisition process, Steadfast Commercial Properties has been working with Helen Burns Sharp, the Community Development Director at the City of Albany. “The City of Albany and their Community Development people have been proactive team members and have helped us greatly as we prepared to complete the acquisition of the property,” said Jim Yoder, Senior Vice President of Steadfast Commercial Properties. “They have provided very valuable information related to the community area and all of the positive growth that is taking place. We look forward to a fruitful relationship going forward.”

The Heritage Mall is anchored by Sears, Ross, a newly opened Gottschalks, a newly expanded Target, and Old Navy, which is expected to open in early September. Mall hours are 10am-9pm weekdays, Sat 10am-7pm and Sun 10am-6pm. For more Information, please call (541) 967-8238 or visit www.heritagemall.com

Steadfast Companies is a multi-divisional company with over 800 employees involved in all facets of real estate development, ownership and management, including Retail, Office, Multi-Family and Hotel properties. Steadfast Commercial Properties is one of Steadfast Companies most vibrant and active divisions. In the last 2-1/2 years alone, it has acquired and is actively redeveloping four regional malls located between Sacramento and Seattle.

Back to Top