The 3.9-acre Salem Center in downtown Salem has been acquired by three local investors who plan to re-energize the mall.

Partners Kelly McDonald, Patrick Carney and Mark Shipman acquired the mall under the entity name OGSC2 LLC. They acquired the mall from Rialto Capital Management, which had stewardship of the property since the 2018 default of a loan held by JP Morgan Chase.

Global commercial real estate and investment management company JLL will continue to provide property management and leasing services for the mall, JLL stated in a press release.

The downtown shopping center is at 401 Center Street NE in historic central Salem. It features a variety of national, regional and local restaurants and shops, including Macy’s, Kohl’s, Ross Dress for Less, Bath & Body Works, American Eagle Outfitters, Victoria’s Secret, Zumiez, Cinebarre Salem 7 theatre, and others.

“Salem Center is a unique investment opportunity that found us,” Carney stated in the release. “We were not looking to buy a mall, but the interim receiver reached out to us and asked us to submit an offer and amazingly it all came together. We are truly blessed and really excited for this opportunity, the property is centrally located in a prosperous and growing community, where people can come to live, work, and play and where both retailers and restaurants can thrive.”

The new owners said they have incentives for local businesses that may want to consider their new designated temporary pop-up space.

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