Eastern Hills Mall Owners Put Property on the Market

Looking for either joint venture or outright sale

Tom Puckett
September 12, 2017 - 5:42 pm
Categories: 

Clarence, NY (WBEN) The owners of Eastern Hills Mall have decided to put the property on the market. There are two options on the table.

"We want to go forward with a repositioning of the mall. To do this, we would like to find a joint venture partner that would come in with us and participate in the program," says Mountain Development CEO L. Robert Lieb. "However, if the demand is such and there's great interest in it, we would consider a sale."

Lieb envisions the mall as a modern town center, with a combination of residential, office, and commercial uses. "The days of the big box based mall seem to be over," explains Lieb. He says the price tag will be determined by what the market has to say.

As for current tenants, "This would be over a period of time. Notwithstanding the fact we've acquired the Macy's building after it left, we would continue to entertain them over a gradual period of time," explains Lieb.

Lieb says Mountain remains committed to the property, calling it dynamic, but it's time to change the concept of the property.

Comments ()