Court records say that 5,699 prospective buyers showed interest in acquiring the mall.
CHARLOTTE, N.C. — Charlotte’s Northlake Mall is set to be sold after years of financial instability and crime issues.
Spinoso Real Estate Group, which took over the mall through a defaulted loan in 2021, approved a $39 million sale to a trio of Georgia-based businesses that work as Hull Property Group. Spinoso approved the deal on Jan. 7.
North Carolina Business Court records say that 5,699 parties showed interest in acquiring the property with 54 of them making potential offers.
Spinoso declared that Hull put in “the highest and best offer” for the mall.
Northlake Mall is over 1 million square feet and features over 100 retailers, including Belk, Dillard’s, and Forever 21. The mall opened in 2005 and sold in 2014 to a real estate company. The mall fell into receivership after owners defaulted on a $362 million loan.
Opposing parties have until Jan. 22 at 5 p.m. to file objections to the sale.
No companies have come forward with objections as of Thursday but two interested parties in an ongoing legal dispute with the mall’s receivers have filed their opposition.
Bianca Brown and the estate of Armani Spencer filed objections to the sale on Thursday. Spencer was killed in an August 2022 shooting outside the mall. Brown suffered serious injuries. The lawsuit was filed in July 2024. The plaintiffs say the mall did not do enough to prevent shootings. The August 2022 shooting happened after an apparent road rage incident.
Brown and Spencer’s estate worry that Spinoso will be waived of any obligation to see out the court proceedings.
“The sale could impair the Interested Parties’ ability to recover on a judgment against Spinoso and TM Northlake,” the objection said.
The objection requests the denial of the sale or requests that a portion of the sale’s proceeds be set aside for potential claims.
The August 2022 shooting was far from the only violent act to happen at the mall. Three shootings happened from December 2022 to February 2023 and a stabbing was reported in April 2023. American Eagle, Apple, and Buckle, among others, closed in the wake of the violence. The mall then implemented higher security measures.
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