Kimco Realty Corp. has purchased Jantzen Beach Center, adding the Hayden Island shopping center to its portfolio of hundreds of malls it manages and develops throughout the U.S.
The New York real estate investment firm bought the center for $131.8 million, according to a statement released Monday.
Kimco said its acquisition of the 67-acre lot could allow for the construction of two additional 6,000-square-foot buildings, along with possible “mixed-use densification opportunities.” This means the Jantzen Beach Center could someday be home to apartments and office space.
Jantzen Beach Center will join Kimco’s eight other strip mall-style properties in the Portland area, including Clackamas Promenade, Tanasbourne Village, Sunset Mall and Gresham Town Fair.
The Hayden Island center opened in 1972, on the former site of the Jantzen Beach Amusement Park. The mall has changed hands several times and undergone multiple renovations over the years, the latest of which demolished the remaining enclosed portion of the mall and added a free-standing Target.
The center’s current roster also includes Home Depot, Best Buy, TJ Maxx, HomeGoods, Burlington Coat Factory, Petco, DSW, Michaels, Ross Dress for Less, Toys R Us and Ulta.
But the shopping center tenant that has garnered the most attention over the years is the beloved 1921 C.W. Parker carousel. The last vestige of the amusement park, the carousel disappeared in 2012, during the latest remodel.
At the time, the mall’s owners, South Carolina-based Edens, promised to restore and reopen the carousel after it completed the remodel. But the carousel never reappeared, leaving its many local fans to wonder whether it had been damaged or sold.
An Edens spokesperson told The Oregonian/OregonLive in 2015 that the carousel was still in storage, and that plans for the location of the carousel at the center had not been finalized.
It’s unclear whether the carousel was included in the sale of the shopping center, or what Kimco plans to do with it. We’ve reached out to a representative for Kimco, so stay tuned for updates.
Update 12:42 p.m.: In an email, Kimco said that any questions about the carousel should be directed to the prior owner. When The Oregonian/OregonLive called Edens’ public relations firm, a spokeswoman said the carousel has been sold to Kimco, and she didn’t know why they would direct questions to Edens.
We’ve reached out to Kimco again for further clarification. Until then, the mystery of the missing carousel continues.
— Anna Marum