The new owners say the first thing they will do is give the Mall some much needed TLC.
The Macy’s building was not included in the sale.
“It was a fast sale,” said Pettitt. “It closed in about 45 days.” No purchase price or terms were disclosed.
This is the fourth mall purchased by Brixton Capital in the last 18 months. Brixton is a private real estate investment firm based in Solana Beach California.
Pettitt told MyEverettNews.com in a brief phone conversation Monday that he likes what he sees in Everett given the projected growth for our area and the chance to develop something for the future.
“To start we’ll give the mall some much needed TLC as we work on our future plans,” he added.
Those plans could include mixed use including adding office space, residential development or both. One immediate need will be to work with the owner of the Macy’s property at the north end of the mall. That building was not included in the sale. The strip mall on the west side of the Mall across from Sears is also not part of Friday’s deal.
“We’ve been very successful with our retail properties,” said Pettitt. “We’re going to make Everett Mall relevant again, imagine a new town center.”
October 2, 2017
Everett Economy