What: Dillard’s and Trademark Property have acquired Longview Mall in Texas, signaling renewed investment and confidence in regional malls through property upgrades and tenant mix improvements.

Why it is important: Dillard’s and Trademark’s approach provides a blueprint for how department stores and developers can collaborate to transform aging malls into thriving, experience-driven destinations.

Dillard’s, in partnership with Trademark Property, has acquired the 646,000-square-foot Longview Mall in Texas, marking a strategic move to revitalize a key regional shopping center. The mall, which draws over 3.7 million visitors annually and is the only enclosed regional mall within a 45-mile radius, will undergo upgrades to both its property and tenant roster. This acquisition reflects a growing trend of department stores and developers joining forces to breathe new life into aging malls, focusing on community relevance, location, and experiential enhancements. Trademark’s previous success with La Palmera in Corpus Christi demonstrates the potential for such partnerships to transform tertiary market malls into top-performing retail destinations. The Longview Mall case challenges the narrative that only A malls can thrive, showing that with targeted investment and anchor tenant leadership, regional malls can remain vital parts of the retail landscape. The move also aligns with broader industry shifts, as major players like Walmart and Simon Property Group invest in and refurbish B and tertiary market malls across the U.S.

IADS Notes:

Dillard’s and Trademark Property’s acquisition and planned revitalization of Longview Mall reflect a broader resurgence of investment and innovation in regional and tertiary market malls across the U.S. As reported by WWD (December 2024), Simon Property Group’s $1.3 billion in redevelopments and focus on community-driven, experiential strategies have contributed to a 6.4% increase in mall traffic, challenging the narrative of inevitable mall decline. PYMNTS (February 2025) and CNBC (February 2025) highlight how major retailers like Walmart are also acquiring and redeveloping mall properties, often transforming them into mixed-use destinations that combine retail, dining, entertainment, and even residential elements. WWD (November 2024) underscores the importance of attracting younger consumers and maintaining high occupancy rates through innovative leasing and experiential retail. Collectively, these developments demonstrate that well-located, regionally relevant malls—especially those with strong anchor tenants—are attracting renewed attention and capital, with department stores like Dillard’s playing an increasingly active role as both retail anchors and property stakeholders in the evolving retail real estate landscape.

Dillard’s buys a shopping mall