New owner of Walnut Square Mall wants to create ‘strong lineup of shopping and dining options’

Published 5:11 pm Tuesday, December 20, 2016

Walnut Square Mall in Dalton has a new owner.

As expected, Hull Property Group, based in Augusta, has announced that it has completed the purchase of the approximately 500,000-square-foot mall from CBL & Associates Properties Inc. based in Chattanooga. Terms of the deal were not disclosed.

“Walnut Square Mall and the surrounding retail node is an important part of the Dalton community and we want to see this area of Dalton succeed,” said Jim Hull, managing principal of Hull Property Group, in a statement. “We are looking forward to working with local leaders and property owners to build a consensus on … a vibrant retail offering both in the Walnut Square Mall and throughout this important retail node. There is a lot of hard work ahead but we believe that together we can bring new and exciting opportunities to this important retail node in Dalton and create a shopping destination that will make the community proud.”

Hull, established in 1977, specializes in buying underperforming enclosed malls and shopping centers and revitalizing and developing those properties. The group purchased Mount Berry Square in Rome in 2012.

“We are encouraged by our conversation with local leaders, stakeholders and property owners in the retail node surrounding the mall,” said John Mulherin, vice president of government relations for Hull. “We firmly believe the future success of this important Dalton retail node is paramount and look forward to continuing to work to ensure that a sense of place is created that shoppers will enjoy.”

Ky Widener, senior vice president of leasing for Hull, said the company wants “to focus on creating a strong lineup of shopping and dining options in the Walnut Square Mall and throughout the surrounding retail node.”

“We are encouraged by the tenants already in the area but to attract more stores we will need to improve the aesthetics of the property and demonstrate the potential for long-term success. We will be working on stabilizing the property and determining necessary improvements to attract the right tenant,” said Widener.

Hull said its portfolio of retail property includes 28 enclosed shopping malls in 12 states. The company says it “self-manages its entire retail portfolio and will oversee the leasing, property management and marketing operations for Walnut Square Mall.”

Other Hull malls in Georgia in addition to those in Dalton and Rome are in LaGrange, Macon, Milledgeville and Statesboro.