SWANSEA, Mass. (WPRI) — A New Hampshire real estate developer has purchased the Swansea Mall property, just about two months to the day after the shopping center closed its doors for good.
The mall had lost anchor stores and many smaller tenants, struggling for years despite efforts of its previous owners, Carlyle Development Group.
The new owners are New Hampshire-based Anagnost Companies, a real estate developer and management company, according to town selectman Christopher Carreiro. The final price at auction was $4.6 million, he said in a statement on his Facebook page Thursday.
“The new owners have tremendous vision and a team of experienced professionals that have repositioned similarly distressed properties,” Carreiro said.
Anagnost is expected to “take a multifaceted approach,” Carreiro added, to find multiple new uses for the 600,000-plus square foot property.
The mall was built in 1974. At its peak, it housed about 90 stores and businesses.
Potential ideas include a supermarket, restaurants, office space, medical facilities, and housing — as well as a new municipal complex for the town.
The sale comes after the town created a redevelopment authority, which will collaborate with Anagnost on plans, Carreiro said.