Horton Plaza, the once-flourishing downtown San Diego shopping center, has officially been sold to a real estate company that wants to turn it into something far from a mall, the San Diego Union-Tribune reported.
NBC 7 confirmed through multiple sources in June that Westfield was selling the aging shopping center to Stockdale Capital, a commercial real estate firm based in Los Angeles.
The sources told NBC 7 Horton Plaza's new owners plan to turn the shopping center into a mix of retail and office space that could appeal to Silicon Valley technology companies.
Stockdale Capital confirmed their purchase of the property and their plans to the SDUT, according to their report published Thursday.
According to the company’s website, the firm owns a variety of properties in the southwest including medical and corporate plazas, hotels and apartments.
Horton Plaza opened in 1985 and was once considered the crown jewel of downtown but it became something of an eyesore in recent years.
When it first opened, it was considered a landmark of urban design, according to The Los Angeles Times.
Before the property's sale was complete, empty storefront littered the property and the halls were filled with homeless people than shoppers.