By 1808Delaware
Polaris Fashion Place, a cornerstone of retail in Delaware County and one of Columbus’ top shopping destinations, has officially changed hands. O’Connor Capital Partners, a New York-based real estate investment group with a growing national footprint, has assumed full ownership and operational control of the sprawling mall complex.
After more than a decade as a minority stakeholder, O’Connor has now acquired 100% of Polaris from Washington Prime Group, which has been shedding properties amid financial turmoil. The sale is part of a broader divestment strategy by Washington Prime, which recently laid off staff and is in the process of offloading more than 70 shopping centers.
From Partner to Sole Owner
For O’Connor Capital Partners, this acquisition is more than a portfolio expansion — it’s a strategic move. The firm plans to “elevate Polaris through thoughtful leasing, active management, and a continued focus on community,” according to a company statement.
Polaris now joins O’Connor’s portfolio of upscale retail properties such as The Esplanade in Palm Beach and The Shops at Canal Place in New Orleans. In total, the company oversees more than $30 billion in assets across 18 U.S. states and Mexico.
The Bigger Picture: Investing in Central Ohio
This isn’t O’Connor’s only play in the region. In partnership with Trident Capital, the firm is backing a massive 3.67 million square foot industrial development near Rickenbacker International Airport, signaling a strong bet on Central Ohio’s economic future.
For local shoppers and businesses, the transition brings both optimism and questions. While the retail sector nationally has seen its share of challenges — from e-commerce disruption to shifting consumer preferences — Polaris has remained a stronghold for national brands and local favorites alike.
A Community Landmark Poised for the Next Chapter
Polaris Fashion Place has long served as a hub for Delaware County residents and beyond, not just for shopping but as a gathering place for events, dining, and entertainment. As the mall enters this new phase under O’Connor’s guidance, all eyes will be on how the new ownership steers its future — and whether it can continue to be the magnetic destination it has been for over two decades.
Stay tuned for developments, and perhaps a few surprises, as Polaris reimagines itself in the evolving landscape of American retail.
