A small mall in downtown Worcester which was under threat of eminent domain from the city’s urban renewal agency has been sold to a new owner.
Owner Dean Marcus sold the Midtown Mall for $4 million, according to records in the Worcester County registry of deeds. The buyer, 10-30 Front Street LLC, is controlled by developer and prominent Worcester landlord Felicio Lana, president of Northeast Properties.
The Worcester Redevelopment Authority had threatened Marcus with eminent domain in April, the Worcester Business Journal reported, unless he turned in a plan to redevelop the property in 30 days. Officials say the building, which faces the Worcester Common and City Hall, is in dire need of revitalization. Marcus’ supporters said the low rents he charges are vital for helping minority business owners get their shops off the ground.
The 74,149-square-foot building is assessed at $2.38 million, according to city property records.