Largest shopping mall in Vermont sold
The University Mall in South Burlington, Vermont has been sold to a capital investment firm and real estate venture.
University Mall is the largest shopping center in Vermont. It has been acquired by Taconic Capital Advisors, an investment firm with offices in New York, London and Hong Kong, and Eastern Real Estate, a commercial developer and real estate manager based in Boston, Massachusetts and Santa Barbara, California.
In a release announcing the acquisition the partner companies say they are “exploring a range of plans to reenergize the mall...”
The purchase price was not disclosed.
The 617,000-square foot facility is 95-percent occupied and about 3.9 million shoppers annually visit the mall.