Christown Spectrum Mall, the oldest operating mall and the third shopping mall built in Phoenix, has sold for $115.2 million.

Located on Bethany Home Road and 19th Avenue, the central Phoenix shopping staple was purchased by New York-based retail giant Kimco Realty, according to property records. The deal closed late Monday.

Christown, which has benefited in recent years from having its own light-rail stop, is home to Costco, Walmart, Target, PetSmart and a 14-screen Harkins movie theater.

Christown Mall was originally named after the farmer, Chris Harri, who sold a large portion of his farm land to the mall’s developer in the late 1950s. The mall’s north-central location, about 7 miles directly north of the state Capitol, eventually became a well-known landmark. The surrounding neighborhoods are now commonly referred to by locals as the Christown area of Phoenix.

Construction was completed in mid-1961.