A joint venture between Eastern Real Estate and Taconic Capital has paid $60 million for University Mall, a 617,000-square-foot, grocery- and Target-anchored enclosed regional mall in Burlington, Vt., that is the No. 1 shopping center in the state.
The seller was not disclosed.
With an estimated 3.9 million visitors per year, University Mall generates more foot traffic than any other shopping center in the state of Vermont. The 96.3 percent–leased mall is the largest enclosed shopping center in the state and is anchored by Hannaford Supermarkets and Target’s first and only store in Vermont. The mall has a diverse tenant mix that includes JCPenney, Kohl’s, Sears, H&M, Victoria’s Secret, Bath & Body Works and Party City. The new owners announced they are exploring a range of plans to reenergize the property, which was originally constructed in 1979 and last renovated in 2018.
University Mall spans nearly 52 acres at 155 Dorset St. in Burlington le
