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The East Brook Mall in Mansfield has sold!
The mall was sold to America's Realty LLC with plans to renovate the existing mall and develop new apartments in the rear of the site. The mall sold for $12 million with a sale recorded on October 8th. The mall last sold for $30.1 million in 2008. The mall sits between UConn's flagship Storrs branch and Eastern Connecticut State University. All of the mall's anchors are currently occupied, with Kohls, TJ Maxx, Michael's, Mansfield Movieplex, Dollar Tree, and Old Navy serving as anchors/junior anchors. The site is also home to a number of in-line businesses including Papa Gino's, Sally's Beauty Supply, Subway, Gamestop, East Brook Liquor, and more. The mall has a number of vacant in-line stores, including former Olympia Sports, Mattress Firm, Claires, and a kitchen-gadget store. The plan is to fill these empty spaces. The new owner plans to renovate the mall including a new roof, new solar panel installation, paving, and new LED light fixtures, and develop the new apartments in the back. He estimates the renovation will be a $5 million investment. The new owner hopes to clear permitting and break ground on the new 150-unit apartment development in about 15 months, a $35-40 million investment. We had previously documented the mall's condition and tenant mix. Check out that story here: http://www.theconnecticutscoop.com/.../mansfield-scoop...
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