Augusta’s Turnpike Mall Has New Owners
There's a chance that Augusta's Turnpike Mall will have some new life soon. The mall, which has sat mostly empty since the Sears store closed in 2017 has been purchased for $3.2 million by a New York company, according to a report in MaineBiz.
The MaineBiz report said Sun Equity Partners, doing business as SEP Augusta LLC, closed on the sale in May. The sale had to be approved by a federal court as the mall's previous owners, Taurus Augusta Mall LLC, had filed for bankruptcy in March of last year, according to MaineBiz.
MaineBiz said the new ownership is a privately-held company that at specializes in the acquisition, expansion, renovation and operation of office retail, shopping centers and residential properties.
According to MaineBiz, Eastern Retail Properties, the leasing agent, is listing space available in the mall and there is also a possibility of a proposed fitness center and two other new buildings in spaces along Whitten Road.
The report said the Turnpike Mall was opened in 1969 and was the first enclosed mall in the state.