Rutland Mall sold for $4.3 Million - WCAX.COM Local Vermont News, Weather and Sports-

Rutland Mall sold for $4.3 Million

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MONTPELIER, Vt. (AP) - Paperwork filed at the Rutland Town Clerk's office shows that the Diamond Run Mall has sold for $4.3 million to a New Jersey-based company.
Anchor stores at the mall include JCPenney, Sears and Kmart. The Spartan Arena, where Castleton State College Men's Ice Hockey team plays, is also attached to the mall.
The Rutland Herald reports that the mall sold previously for $53 million in 2007 to Gemini Real Estate Advisors.  At the end of last year, the owners surrendered the mall to the mortgage holder with more than $30 million outstanding.
Besides the anchor stores, the mall is about two thirds empty.
The new owner is BAI Rutland LLC of Englewood Cliffs, N.J.

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