Wilmorite plans to buy back five Rochester-area malls
By: Import User
Updated: December 3, 2007
Two years after selling them off, Wilmorite is planning to buy back five of its Rochester-area malls. Eastview Mall, Eastview Commons, Greece Ridge, Pittsford Plaza and The Marketplace Mall were sold as part of a $2.33 billion real-estate package to a west coast developer.
However, the Wilmorite Corporation retained a clause in the deal which would allow the company to buy back the Rochester malls within two years. The company decided to exercise the right to buy back the Rochester centers.
Wilmorite management tells News 8 Now customers will not likely notice any changes in the malls under the new sale. The deal is scheduled to be signed in early January.
