Independence Mall and a nearby property recently changed hands for more than $50 million, according to deeds recorded on Friday.

Florida-based 4th Dimension Properties purchased two parcels that encompass much of Independence Mall for $48.8 million from former owner Rouse Properties, according to a special warranty deed, effective Aug. 5. The purchase does not include anchor tenants Belk and Dillard’s, which own their buildings.

In a separate deed recorded on Friday, 4th Dimension Properties paid $2.45 million for nearly an acre at 3750 Oleander Drive, a site that’s home to a Wells Fargo Bank branch.

Rouse Properties, a subsidiary of New York City-based Brookfield Properties, bought Independence Mall in 2017 after the previous owner defaulted on a $110 million loan. The firm reportedly paid $45 million for the portion of the mall that served as collateral for the loan.

After buying the mall, Rouse Properties embarked on a "sweeping redevelopment," which included adding grocery store tenant Lidl, updates to the mall's interior and bringing in "upscale dining and retail options, and a multi-tenant building complex," company representatives said at the time of the purchase. 

Independence Mall has witnessed an uptick in new eateries and stores in recent years, both inside the mall and on nearby outparcels along Oleander Drive. Several storefront spaces remain available for lease inside the mall, according to 4th Dimension Properties' website.

4th Dimension Properties owns a portfolio of malls across the U.S., with shopping centers in Texas, Alabama, Pennsylvania, Minnesota, Iowa and Washington, among others. Independence Mall is the company’s only North Carolina property, according to its website.

Felix Reznick, a principal with 4th Dimension Properties, was not immediately available on Monday to discuss the firm’s acquisition and plans for Independence Mall.

According to its website, 4th Dimension Properties “sees the future of malls as places for more than just shopping.”

“Shopping malls are social spaces where members of a community interact with each other, and where local businesses can prosper alongside national brands, in public high-traffic settings,” the company’s website states. “Our goal is to transform shopping centers into community hubs where entertainment, shopping and food all come together.”