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by Joyce Lobeck

Yuma, AZ - In a new chapter in its life, Southgate Mall will go into 2013 under new ownership. In a sale that closed Friday afternoon, the mall was purchased by Southgate Mall LLC, confirmed spokesman Gordon Keig.

The entity is an affiliate of CCA Acquisitions Company and Kornwasser Shopping Center Properties, which develop and own shopping centers in Arizona, California, Utah, Washington, New Mexico and Montana.

Keig, who is based in Phoenix, said he’s been looking at Southgate Mall for quite a while and made an initial offer in early May. The company completed the purchase of the mall this month from MidFirst Bank for $4.1 million. Tom Pancrazi of A.T. Pancrazi Real Estate in Yuma and CB Richard Ellis in Phoenix assisted with the purchase.

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