Northtown Mall in Blaine
Omar Abuisnaineh bought about 44,000 square feet from Northtown Mallowner 4th Dimension Properties for about $3.67 million on Feb. 28, accordingto a certificate of real estate value published this week. The parcel is on thenorthwest side of the mall at the former home of LA Fitness, which closedbefore 4th Dimension bought the mall in 2023.
Abuisnaineh, who also owns Slim’s in Brooklyn Center and Pangea HalalMarket across from Northtown, didn’t offer details of his plan, saying theproject is still in the early phases.
But Felix Reznick, owner of Hollywood, Florida-based 4th DimensionProperties, said Halal Square will give a whole new group of people a reason tocome around the mall. It’s all part of his efforts to build traffic and hype for theretail center.
Reznick has been selling off pieces of the mall since the 2023 acquisition. LastMarch, he sold a strip center in the mall’s outlot for $4.7 million. In August, hesold another chunk of the mall for $4 million to make way for Asia Village,which will have an Asian grocery store, retailers and dining options.
Reznick’s “secret sauce” is to offer deals on underused spaces that could benefitthe mall, and to sell income-producing chunks — like Sky Zone TrampolinePark or the strip center he sold last year — at market prices.
For example, Asia Village “is something that’s going to completely change theface of Northtown,” he said. It’ll be a “beehive,” attracting 2,500 people a day.Selling that spot to a storage facility for the highest price wouldn’t help themall. Knowing that the Asia Village investors want to put a lot of money intothe effort, Reznick knew they’d need to control the real estate to make thatkind of investment, and he gave them a deal.
Reznick recently hired Cushman & Wakefield to help with leasing for some ofthe mall’s open spaces.
“This is an opportunity for people to lease space at a better price, prior to thesetwo mammoths [Asia Village and Halal Square] opening up,” Reznick said.“Once they open, the price point is going to be very different.”