Esplanade Mall sold to California company

theesplanade

KENNER, LA (WGNO) – Sources tell WGNO that the Esplanade Mall in Kenner now has a new owner.

Those sources say the Pacific Retail Property group purchased the mall from the Simon Property Group of Indianapolis, Indiana.

The Esplanade is one of the largest malls in the New Orleans area.  The mall’s website also lists Pacific Retail as the owner.

The mall has struggled to keep up with the popularity of some other malls in the New Orleans area.  It recently added new theaters.

Pacific Retail is based in El Segundo, California and is known for turning around troubled properties.

No terms were available on the purchase.