California-based Vintage Real Estate has acquired The Mall at Whitney Field in Leominster.

The 700,000-square-foot regional center, located at 100 Commercial Road, sits on 75 acres and is anchored by Macy’s, Sears, J.C. Penney, Market Basket grocery, Toys R Us and Old Navy.

Vintage did not release a purchase price.

Concurrent with the mall acquisition, Vintage executed a 10-year lease with Burlington Coat Factory for the 66,000-square-foot, former Circuit City store. The space has been vacant since the Circuit City bankruptcy in 2008. Burlington Coat Factory is expected to open in the first quarter of 2014.

"The Mall at Whitney Field remains a dominant retail center in the area," Fred Sands, chairman of Vintage Real Estate, said in a statement. "Our ability to immediately fill a large and long-vacant space is a testament to the strength of the market and our leasing and management team that is overseeing the property."

The mall was sold in 2007 for $82 million, which included the assumption of a $74.5 million loan. The lender foreclosed on the mall in November 2010, with a $72.2 million loan balance, and it was marketed for sale by Eastdil. Vintage Real Estate will oversee operation of the mall including marketing and leasing.

Vintage Real Estate Acquires The Mall At Whitney Field

by Banker & Tradesman time to read: 1 min
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