Local Developer Buys the Aroostook Centre Mall in Presque Isle, Maine
A local developer has bought the Aroostook Centre Mall in Presque Isle. Dana Cassidy purchased the building from Kohan Retail Investment Group.
Aroostook Centre Mall Sold to Local Developer
General Manager of the mall, Bruce Brigman, confirmed the transaction. Cassidy has been in discussions to buy the mall for the last two years, according to WAGM.
Mall Remained Open after Announced Closure
The Aroostook Centre Mall announced on February 26 that it was closing for unpaid utilities. Some stores were able to stay open because they paid for their own electric and water services. Brigman said store owners came together to help pay the bills and keep the mall open. Representative Austin Theriault also worked on the issue through negotiations with Versant Power.
Hobby Lobby at the Mall
Ideas to revitalize the mall are in the works. Hobby Lobby has been investing in developing part of the old Kmart location, reported WAGM. Brigman said the company has already invested close to $80,000 to anchor a store at the Aroostook Centre Mall.
Residential Spaces in the Mall
Other ideas to repurpose the mall include retail spaces converted into residential areas as put forth by Representative Richard Campbell of Orrington.
First Local Owner of the Aroostook Centre Mall
The sale proceeds with the mall getting transferred to Cassidy. Brigman said plans are being discussed for the mall’s future success.
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