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Taconic, Eastern Partner for Mall Purchase in South Burlington
Taconic Capital Advisors and Eastern Real Estate have partnered to acquire University Mall in South Burlington, VT. The property is 95 percent occupied with over 50 local and national shops and restaurants and is considered a major retail hub for shoppers from across the region, including Quebec.
The 617,000-square-foot shopping destination is the largest in VT as well as the most-visited in the state with an estimated 3.9 million annual visitors. The property features JCPenney, Kohl’s, Hannaford Brothers grocery store and Target (the first and only Target to open in VT).
Eastern Real Estate will oversee the planning, leasing strategy and overall positioning of the mall, while KeyPoint Partners will maintain its role as property manager.
The new owners are planning to reenergize the mall, which is one mile from the University of Vermont, The University of Vermont Medical Center and the Burlington International Airport.
- ◦Sale/Acquisition
